The Rules are: Time Frame is 4Hr. Trend identification is at 4Hr and Daily TF. Entry will be made at 1Hr TF.
1. Identify the trend direction at 4Hr and Daily TF. Both these TF trend should be at the same direction.
2. Go to 1Hr TF and wait until at the same direction with 4Hr and Daily TF.
3. Once the 1Hr TF producing signal, then put your position but before that check if there is a nearest S/R. If S/R are nearer, don’t take a position, wait until crossed or put your pending order.
4. Once the system producing signal, confirm the signal with the following at sub-windows: a) Buy – Power fuse should be at BLUE colour and has cross the BB b) Stoch Histogram has pass the level -20. c) Sell shall opposite the Buy condition. Stop Loss shall be at the last two candles height/low or if too close, you may use at your own discretion.
1st TP for half of your position should be at the nearest S/R and let the other half run to the next S/R and move your SL to breakeven.
Don't Miss Pro Indicators And Trading Systems