Hi mastersnap, basically you just count the 3 same colored bars. In that picture, there was only 3 occurances where there were 3 or more greens in a row (no reds).
So after the first set of 3 greens, on the 4th bar, you wait until price goes below the open of that bar...and the bar will turn red. Enter short then. For exits, that bar looks like it went about 60 pips down, but you never know. Some may only go 5 or 10 or so. You could target the mid point of the previous bar. Demo it and make your own observations on how it behaves. Perhaps only trade this when the hourly bars span 50 pips at a time or so, and NOT when they're only 20. Also visit
kreslik.com - Traders Community :: View topic - Never Lose Again... the Never Lose Again thread is continued there.
Happy Trades
