Ok, so a quick background. I've traded for 13 years. EVERYTHING. Stokcks, futures, options and forex. I focus on options and forex now. In the 13 years I think I've tried, tested and traded almost every strategy, auto system in the market. In fact, I managed a large fund that was made up of 100% automated system based in tradestation created by my partner and I. I've also co owned a Introducing Brokerage and have personally met some of the best most powerful traders in the world. On top of that, I am VERY involved in one of the worlds largets trading and investing schools. Long story short, I've seen it all... I've been around the block.
I know a few things for sure.
#1 - Low Vol is ALWAYS, followed by high Vol..... ALWAYS! Remember that. And think about that when looking at the current S+P value sitting at 1433 with the VIX starting to move up.... HINT HINT.
#2 - There are a TON of fakes out there. A lot of people are not who they say they are. Thats sad because I love this business and us good guys need to change it!
#3 - Things that work in trading: Price Action...... Thats it. With that Price Action forms supply and demand. The best setups are after a rise or fall in price, into a supply or demand level against the longer term trend.
Let me hit on #3. NZDUSD is perfect right now. Current long term (daily) trend is UP, Shorter term trend (4h) is UP, Price fell to a demand level! JACKPOT! BUY BUY BUY!
So, my strategy is simple: (I use 2 SHI channel indicators that are coded by others. They do a nice job. So THANK YOU to whoever created them)
Pull up a 4H chart
Add "Sonic SHI Channel MTF" indicator with the TF changed to 1440
Add "SHI_Channel_True_Modified_Version" (this will plot the 4H timeframe)
The trade:
Both 1440 and 4H channels moving in the same direction. Wait for a move against the trend and a close outside the far side of the 4H channel or the Daily channel and into demand or supply. Wait for a close back into the 4H channel or the daily channel. Take the trade! Use the low pivot as a SL and a supply and demand level as the target!
Simple: Picture will tell the story.... I hope!
Take a look. I will keep posting trades.
White lines are supply and demand. Orange is the Daily SHI Channel. Green is the 4H SHI Channel. Red is my BUY point. Stop is 8175 (Just below Demand) and target is 8310 (Supply).
I know a few things for sure.
#1 - Low Vol is ALWAYS, followed by high Vol..... ALWAYS! Remember that. And think about that when looking at the current S+P value sitting at 1433 with the VIX starting to move up.... HINT HINT.
#2 - There are a TON of fakes out there. A lot of people are not who they say they are. Thats sad because I love this business and us good guys need to change it!
#3 - Things that work in trading: Price Action...... Thats it. With that Price Action forms supply and demand. The best setups are after a rise or fall in price, into a supply or demand level against the longer term trend.
Let me hit on #3. NZDUSD is perfect right now. Current long term (daily) trend is UP, Shorter term trend (4h) is UP, Price fell to a demand level! JACKPOT! BUY BUY BUY!
So, my strategy is simple: (I use 2 SHI channel indicators that are coded by others. They do a nice job. So THANK YOU to whoever created them)
Pull up a 4H chart
Add "Sonic SHI Channel MTF" indicator with the TF changed to 1440
Add "SHI_Channel_True_Modified_Version" (this will plot the 4H timeframe)
The trade:
Both 1440 and 4H channels moving in the same direction. Wait for a move against the trend and a close outside the far side of the 4H channel or the Daily channel and into demand or supply. Wait for a close back into the 4H channel or the daily channel. Take the trade! Use the low pivot as a SL and a supply and demand level as the target!
Simple: Picture will tell the story.... I hope!
Take a look. I will keep posting trades.
White lines are supply and demand. Orange is the Daily SHI Channel. Green is the 4H SHI Channel. Red is my BUY point. Stop is 8175 (Just below Demand) and target is 8310 (Supply).