Tony's Two Candle trading system
Hello everyone,
Just wanted to share a high probability trading system with you. It's easy, just pull up the 1 hour chart of any currency.
Now, just wait for a bull or bear candle to form, after a bullish or bear close, the next candle will most likely be a bull or bear candle... to give you some simple ideas.
Example:
The bull candle at 8GMT is likely to be a bull candle at 9GMT as well.
The bear candle at 11GMT, most likely the candle at 12GMT may also be a bear.
Enter exit rules:
Long Candle --- Stop loss at the low of the previous candle, with a target of 10-20 pips or the close of the next candle.
Short Candles --- Stop loss is placed at the high of the previous candle, with a target of 10-20 pips or the closing price of the next candle.
No trade --- if the next candle starts in the opposite direction of the previous candle.
Note: The best bull or bear candles are one-sided or have little or no wick. (Strong Bull/Bear Candle)
More information, templates and filters for this post --- http://www.forexfactory.com/showpost...&postcount=112
Happy Pippin
Just wanted to share a high probability trading system with you. It's easy, just pull up the 1 hour chart of any currency.
Now, just wait for a bull or bear candle to form, after a bullish or bear close, the next candle will most likely be a bull or bear candle... to give you some simple ideas.
Example:
The bull candle at 8GMT is likely to be a bull candle at 9GMT as well.
The bear candle at 11GMT, most likely the candle at 12GMT may also be a bear.
Enter exit rules:
Long Candle --- Stop loss at the low of the previous candle, with a target of 10-20 pips or the close of the next candle.
Short Candles --- Stop loss is placed at the high of the previous candle, with a target of 10-20 pips or the closing price of the next candle.
No trade --- if the next candle starts in the opposite direction of the previous candle.
Note: The best bull or bear candles are one-sided or have little or no wick. (Strong Bull/Bear Candle)
More information, templates and filters for this post --- http://www.forexfactory.com/showpost...&postcount=112
Happy Pippin
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