10.03.2019 Update on kitty scouting/ scavenging
As you know, this kitty is quite a curious cat and I always wuv the opportunity to learn. For the past week, I have been stalking a yootoob channel.
I will call em mentor TN. Now, mentor TN talked on one vid about the London Bwidge.
He kitty said that this stwategy woiks with the LONDON open on the GBP/USD pair [and other GBP/EUR pairs].
Kitty steps: (1) Mark the kitty sessions [Asian, London, US] on the 15m (2) Mark the absolute top and absolute bottom (ya know. top-most and bottom-most) to determine the range of the Asian Session (3) Wait foww a breakout of the Asian Session range (4) Ride the prevailin trend.
Easy peasy kitty steps right? (5) Set 1/2 of the Asian Session range as the Risk and set 2x the Asian Session’s Range as the Return [1:2 RRR]
So this kitty found himself backtestin and most setups were successful albeit the RRR not always being 1:2
London bwidge is flyin up, flyin up, flyin up
London bwidge is fallin down, fallin down, fallin down
London bwidge is flyin up, flyin up, fly- heeeyy…
There were also instances of kitty “fakeouts” that cudda burned an unsuspectin tuwwader
London bwidge is fallin down, fallin down, falli- Gaaasp! Oh nyuuuu!
In the pictuwwe, it shows a break to the downside but then it kitty flips and burns tuwwaders on the short side.
So this cat had pondered on this foww a while and then it hit me!
What if I combined mentor CP’s system with mentor TN’s London bwidge concept?
With CP’s system in place (Please see 1st post for reference), we would not have taken the “fakeout” trades coz they would fail to meet the criteria of the CP system (1) Stoch too close to OS zone of 20, (2) RSI was pointing up and actually broke 45.
Even if we were bad kitty tuwwaders and took the tuwwade (which did not pass mentor CP’s criteria), we would havv gotten out alive coz the Stoch and RSI will tell us itch time to kitty run.
It looks good on paper so maybe it’s time to try it out!
PS I usually trade in the evening when I get hoime from my day job. The London Open is smack-dab in the middle of office hours (a few hours from this bad cat typing at work) so I gatta be extra careful or my hooman boss will skin me. Goolakk to us and cheers to more pips to come! ^O^