hi phil! i just finished reading your ebook. i must say its very well written and extremely easy to understand. and your mm is very similar to mine, very good for long term investments.
a while back, i was also playing around with price action. what i tried back then was to look for the number of pips moved from recent lowest low or highest high on the h1. eg if the price has gone up 60 pips from recent lowest low, enter long for another 40 pips. basically the idea that i have is that once the price had moved a certain number of pips, it should have already be in a trend and continue that way. i got good results from a few pairs that way but only during certain times of the day. those times are specifically at eastern 2am to 6 am daily. during those times, my sr is virtually nearly 100%. but outside of that time period, i think i scored nearly 0%
. i'm poor fundamentally, but maybe if fundamentals are added in, i could've skipped a few of the bad trades.
in the meantime, i'm back-testing your method and it seems very profitable! i just need to check the charts every about 2 hours or so, so that i will not miss any action.
thx
yantz