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Hi Coody, I think Misty was just adding to the conversation by...

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RickM

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18/01/18

18:56

Post #: 30398391
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Originally posted by Cooder ↑

Hi Misty. I'm not familiar with the Ichimoku Charts and without backtesting I can't really comment
on it. On the previous drop below 50 on my chart you will see a support line. This was drawn in before
the RSI fell. Sup. line was extended over time. Entry would have been a 4H candle close at 7805, previous low
below that blue line. Also with the RSI closing below 50 on the 4H candle.

The idea is to try and catch a change of trend, but don't jump in too early.

The previous high would have been my S/L around 7880 , so If I had taken the trade I would be out.
Size of my Trade depends on how far my stop is from my entry. This would have been roughly 60 pips
and I would take a half standard lot, roughly $5 a pip. I trade on leverage.

Looking at your Chart would your system mean a Long entry on the 10th Jan. at 20.00 hr candle.
and what other indicators would you use for an entry.

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Hi Coody, I think Misty was just adding to the conversation by offering a different viewpoint.

I do like your clutter free charts, may we ask what your basic Forex strategy is.
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