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My 6E trading strategy

  #869 (permalink)

Chicago IL
Trading Experience: Intermediate
Platform: Ninja, MT4,TOS, SC, Matlab
Broker/Data: CQG, AMP, MB, DTN
Favorite Futures: E/U, G/U
forrestang's Avatar
Posts: 1,039 since Jun 2010
Thanks: 227 given, 697 received

trendisyourfriend View Post
Basically, if price makes a HH within the cloud on the 1508 ticks chart while price is in a downtrend and price retraces to a rising EMA(13) which should coincide with the bottom of the cloud or near this bottom and the risk/reward to the EMA(50) has some merits (at least a 1:1 RR) then maybe the trade is worth taking even more so if the top of the cloud has enough room to allow a 2:1 RR. I also try to trade the Euro when price travels between two round numbers that end with 00 or 50 like 1,4000 to 1,4050 or 1,4050 to 1,4100. Such a scenario occured Friday just before noon EST. You need to evaluate if the risk is worth it given the potential targets (see chart).

That is an interesting way to look at it. I hadn't really thought about how much room a trade may have up top.

So do you think the best way to sort the best from the worst in terms of reversal trades is the RR?

Do you see any type of pa that might be more conducive to the trade being successful?