in the June 2010 edition of TASC, Walter Downs speaks of his Forex Gambit trading system. Daily charts is what the article is based on.
Buy : Buy two lower lows and a closing price that is greater than the midpoint of the bar and is above the SMA
Exit Long: When a bar occurs whose range is greater than the previous three ranges and whose close is in the top 10% of the bar, exit a long position on the first closing price that is lower than the previous closing price OR exit after 16 days.
Anybody else tried this, seems to be WELL thought out. Any help on indicators to make the visuals easier especially in the exits.
Buy : Buy two lower lows and a closing price that is greater than the midpoint of the bar and is above the SMA
Exit Long: When a bar occurs whose range is greater than the previous three ranges and whose close is in the top 10% of the bar, exit a long position on the first closing price that is lower than the previous closing price OR exit after 16 days.
Anybody else tried this, seems to be WELL thought out. Any help on indicators to make the visuals easier especially in the exits.