I like to keep it simple.
- Trades based on daily chart only.
- Risk only 1% of capital on any trade, look for return of 1.5%.
- Move SL to BE when return reaches 1%.
- we need three candles to form the pattern for entry.
- Buy - Third candle closes above close of previous two candles ( Ideally Third should be bullish and previous two bearish)
- Sell - Third candle closes below close of previous two candles. (Ideally Third should be bearish and previous two bullish)
- SL - 5 pip above/below the three candle pattern high/low.
- Close the trade (before it hits the SL) if the opposite pattern is formed.
Goal for 2022 is to grow capital by 15%.
i will post my trades as i go along.