Channel strategy on h1. Eur/USD
Winning is not difficult.
Next week I will start looking for entries using this setup.
CAP Channel Trading
Order Block Catcher
Various Heiken Ashi (smoothed, simple, exponential, linear weighted).
MACD
Eur/USD!
Thanks for the profits.
The channel strategy was lighting it up today on the Forex market.
Eur/Jpy - win
USD/Jpy - win.
Eur/USD - huge win.
It got me in a nice EURUSD short this morning!
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How are you using this? Price moves back into an order block? Then what?
I think on the M1it helps determine range. On KoF there are YouTube videos showing how to trade the range.
Eur/Aud - Moved SL to lock in profit.
Entered Eur/Jpy long yesterday.
Currently down 45 pips.
Diving back into Eur/Usd long today because of yesterday’s pullback.
Can you give me your strategy with the latest update?
Certainly.
As always, I welcome any suggestions if you see a way to improve it.
But here it is.
No changes to EMAs.
Additions:
Cap Channel Trading (orange lines) - No customized settings. Load the indicator as is.
Order Block Catcher (Bold thick pink lines) - No customized settings. Load the indicator as is.
Scaled Awesome Oscillator. or MACD with settings like 8, 26,6.
(Red 6 EMA is optional).
TicksSeparateVolumeDif (provided to the Forex Factory Community - Author credited earlier in this thread).
TicksSeparateVolume.ex4 (14.6 KB)
Strategy updates:
As you can see by the manually placed arrows on the screenshot below, we can simply enter when Yellow ema crosses upper green ema from above, or when Yellow crosses lower green ema from below.
We can also enter when a new Order Block line appears.
We can also enter when Oscillator switches from down to up or up to down.
With enhancements, we can use Cap Channel for exits.
We can also use Cap Channel to filter out signals such as the Long signal that is already near the top of the Cap Channel.
I suppose we could use the Cap Channel as a SL area too. But I would add a few pips to the outside of it.
As a side note:
I am finding that it works for all pairs and all timeframes. Obviously, a smaller spread is preferred.
Hi @AmericanTrader! I’ve been experimenting setting up KoF’s Full EMA strategy on the same chart as your EMA Channel Cross Strategy to look out for opportunities for both strategies on the 1-minute chart at the same time. I’m debating whether this is confusing or not lol.
So far I prefer trading the 1-minute charts because there is a lot more opportunities this way since I can’t trade the NY session market opening hours. I find if I trade the 5-minute charts, I’ve already missed the best moves of the day, but there are still plenty of mini waves to catch on the 1-minute charts. My best trading time for my schedule is for 2 hours around 8-10am PST (11am-1pm EST). I work at home on my computer so I can babysit any trades for the rest of the trading day if needed though.
Thanks for your PSAR recommendations by the way - I like incorporating them. So far I like the PSAR settings of either 0.009 / 0.01 or 0.02 / 0.02.
I’m wondering if you have traded KOF’s Full EMA Strategy, or are you trading his 1% strategy? Any thoughts on what works better for you? I see from your posts you are trading a few strategies and set ups. Do you have any advice on setting up your charts - do you combine the set ups for strategies on a particular chart at the same time, or do you change up the settings each time you trade so you decide beforehand which strategy you are using with that particular currency pair?
Hello.
I can definitely appreciate everyone having their preferences for time frames and settings. I agree that there is leeway to set up the charts to match our preferred trading styles.
I’m glad you found a way that works best for you.
As for KoF 1% Strategy, I have not really had a good opportunity to sit down and give it an honest effort. So I am cheating by using MACD when the 1% signal hits (I cannot discuss the 1% strategy details for proprietary reasons, but I assume you know what the signal is).
There are so many ways to make easy, high probability trades, that I use a few different ones most days.
I still use smoothed Heiken Ashi on H1, H4, and D1 time frames to send push notifications to my phone. Those trade entries are small (0.02 to 0.1) so I don’t need to monitor them more than a couple of times a day. Freeing me to not have to worry about them while I go out for the day. The small lot size is because, like KoF, I add entries from time to time to manage the trades until profitable.
It’s not easy to do at the same time as Kof though. I think of it as nearly passive income.
Here’s an example of getting hundreds of pips, over and over again, but it taking a week to a month or so each time.
My “passive” income suggested strategy. With text.
Just remember. I’m not a professional trader. I’m showing what I believe works.
Edit:
Best part about trading this way on D1…
You can ignore almost all high impact news. I’d say all high impact news, but maybe there will come a day when its so catastrophic it will matter.
You can trade while having a full-time job without having to check the charts more than once or twice a day.
You can start with small lot sizes (0.02 0.05) so it doesn’t matter if you are down 100 pips on any given day. Painless. Little stress.
You can cost average with additional entries if you want.
I tend to use non-major pairs so that I can still trade the majors every day if I want to. The non-majors are less volatile so there are not many wild swings. Fewer OMG moments when you scream, “WHAT HAPPENED LAST NIGHT!”
Its just relatively steady up or down for days, weeks, and even months.
The spike aaaaaaalmost got me this morning.
Since then. A nice couple of wins on Gbp/Jpy long and Usd/Jpy long.
Still holding my large timeframe trades.