image6 by anigreen300, on Flickr
I have been trying few weeks to put together a simplistic swing trading system or a method, using simple chart, indicator and price action. Let me know what u guys think, comments and ideas are welcome.
1. As long as closing price of the current week is above the previous week's closing price, we stay long
2. We buy when Stochastic %K crosses %D, wether it is in OB or OS region
3. Takeprofit 30 pips, stoploss ur choice.
4. When price does closes below the previous week's closing price, then we go south, and repeat step 1 and step 2 opposite.
- pair : EUR/USD
- timeframe : 4 hours/ EST
- indicator : Stochastic 14.3.3
- horizontal dotted lines: previous week's closing price
- vertical grey lines : end of each week ( except the last dotted one, small screen)
- red line: current price ( not shown, small screen)
- green arrow : buy signal
- blue arrow: sell signal
- X : do not enter, if u do u are on ur own signal