Ok, I am ironing out the details of this strategy based on a pattern I observe, so tweaking may occur from time to time.
[B]Time Frame:240min & Daily charts only.
Pairs:EURJPY, EURAUD, GBPJPY, GBPAUD, EURUSD
Bar Patterns:BEARISH ENGULFING, BULLISH ENGULFING, DARK CLOUD COVER, PIERCING CANDLE
R:R: Minimum 1:2. Hope to start out with 45:90 pips.[/B]
[B]METHODOLOGY[/B]
[B]Sell When…[/B]
[ol]
[li]The bar after a Bearish Enfulfing Bar (BEEB), closes below the BEEB. (Enter at BEEB Low) - Entry type #2 OR at the low of the inside bar after price breaks BEEB low - Entry type #1 OR the BEEB closes below the bar it engulfs, enter at the low of the inside bar- Entry type #3.
[/li][li]The bar after the Inside Bar in a Dark Cloud Cover (DCC) pattern, closes below the inside bar. (Enter at DCC Low)
[/li][li]The bar after the Inside Bar in a Piercing Candle (PC) pattern, closes below the inside bar. (Enter at PC Low)
[/li][li]A Bullish Engulfing Bar (BUEB) forms, and the following bar fails to break its high and forms a bullish bar. (Enter at the the close of the bullish bar)
[/li][/ol]
[B]Buy When…[/B]
[ol]
[li]The bar after a Bullish Enfulfing Bar (BUEB), closes above the BUEB. (Enter at BUEB High) - Entry type #2 OR at the high of the inside bar after price breaks the BUEB high - Entry type #1 the BUEB closes above the bar it engulfs, enter at the high of the inside bar- Entry type #3.
[/li][li]The bar after the Inside Bar in a Piercing Candle (PC) pattern, closes above the inside bar. (Enter at PC High)
[/li][li]The bar after the Inside Bar in a Dark Cloud Cover (DCC) pattern, closes above the inside bar. (Enter at DCC High)
[/li][li]A Bearish Engulfing Bar (BEEB) forms, and the following bar fails to break its low and forms a bearish bar. (Enter at the close of the bearish bar)
[/li][/ol]
[B]STRATEGY BEING TESTED, TRADE AT YOUR OWN RISK
CURRENT P/L: +129pips[/B]
