Not keeping it to myself I assure you. Just that I posted a link to the e-book in which the system is detailed and I think exactly one person looked at it so didn’t bother here. You now: God forbid somebody actually has to read through something and learn i.e. not interested unless it’s spoon fed and/or doesn’t make 1 000% in five minutes type of thing.
Anyway. See link below. Go to page 41 section 4 “RSI Rollercoaster”. When I was indeed thinking about jumping in on a FOREX pair I was looking at AUDJPY and AUDUSD with this trading system. I actually got in and then decided no. Not for me. Have not bothered with FOREX for years and years. No reason to start now just to prove a point. So just closed the trade out (basically lost the spread is all). In just looking now though: still valid trades for the system as I type this i.e. stops have not been taken out as yet so could be a late entry with a very tight stop as per the system. Not the way I would trade it i.e. I don’t use stops. But that’s not for everybody for sure. Rather stick with the system as is (at very least until you are familiar with its nuances and shortcomings). Works a treat on Equities though I’ll tell you that.
Kathy Lien and Boris Schlossberg - High Probability Trading Setups for the Currency Market
Another possibility COULD be page 56 section 6 “The Memory of Price” on both pairs mentioned above at this current time. Now this particular trading system is REAL robust. Double tops and double bottoms. It’s reliable though simply because of the extreme wide stops and the way the trades are managed. Point is: with small accounts it’s probably not possible to trade it or not worth it.
Anyways. Good book and good reading I assure you. Even if a person doesn’t trade or isn’t interested in the trading systems the balance is sure worth absorbing.
And not infringing any copyrights i.e. these same systems were eventually published in their entirety on Investopedia.
By the way: not suggesting that anybody take any particular trades (the usual blah, blah, blah disclaimer). Just saying.
Also: none of these trading systems are my core trading system. Call them high probability opportunistic trades if you like.
For the sake of interest (although I’m figuring that given it’s not a FOREX chart it’s not going to excite but anyway) below is a daily chart of the Swiss Market Index Futures (Expiry 21 June). See if you can spot the last three slam dunk trades using The Memory Of Price. That’s serious money (if you have the capital of course i.e. very little leverage here).
Swiss Market Index Future Expiry 12 June