eurusd buy the 50's

mieloo · Post by **mieloo** » Wed Jul 11, 2012 5:20 am

hi

i have a simple method that i hope will be quickly an EA.

first time the price retreats from 80's at least to 50's it will find some big players willing to buy that usually will send us back to the 60's.
Some times the move can bring us back to 80's.

ways to trade:

1. place buy limit 1.xx50 (usually bid price will go to 1.xx48... so take into consideration the spread, maybe 1.xx51 will suite u better)
SL - 8 pips (1.xx42)
Tp - 10 pips (1.xx60)

2. place 2 buy limit 1.xx50 (usually bid price will go to 1.xx48... so take into consideration the spread, maybe 1.xx51 will suite u better) - this will work better if the trend on M15 at least is long.
one regular:
SL - 8 pips (1.xx42)
Tp - 10 pips (1.xx60)

one xxl
SL - 8 pips (1.xx42)
Tp - 30 pips (1xx80)
Be - 10 pips(at 1.xx60)

i will post examples.
i mention that this reaction is the most reliable thing that i saw in the markets trading on small charts eurusd day by day for more than a year.

mieloo · Post by **mieloo** » Wed Jul 11, 2012 5:21 am

price comes down to under the 50's and finds some buyers

mieloo · Post by **mieloo** » Wed Jul 11, 2012 5:27 am

same thing, first touch , clear reaction

mieloo · Post by **mieloo** » Wed Jul 11, 2012 5:32 am

again enough to hit the tp, even if the sellers were in control

mieloo · Post by **mieloo** » Wed Jul 11, 2012 5:37 am

even in the middle of the storm ....

mieloo · Post by **mieloo** » Wed Jul 11, 2012 5:53 am

first touch.

soulfire · Post by **soulfire** » Thu Jul 12, 2012 4:34 pm

Hi Mieloo,

Nice idea. Do you have any stats from trading this live in the last year?

If the main purpose of posting it is to have it coded into an EA then you might get more attention if you post it in the Automated trading systems section.

garyfritz · Post by **garyfritz** » Thu Jul 12, 2012 5:06 pm

I can move the thread if you want, Mieloo.

mieloo · Post by **mieloo** » Sat Jul 14, 2012 9:39 am

unfortunatlly i dont have the stats, but i will go back on the charts and show more examples tommorow. i will come with some stats.

yes, Gary. pls.

mieloo · Post by **mieloo** » Mon Jul 16, 2012 11:15 am

two important things that i want to share with you

a. this should work in high volatility markets, so the trading interval should be 8:00 - 23:00 CET.

b. imo any strat should have a recovery trade.

if the M1 candle that touches the SL closes back over the 1.xx42 price then the recovery trade is on (on the open of the next candle) the TP = 8 pips ( to recover the loss) and the SL placed under the low of the M1 candle

some times doing this manually could be hard as the market moves very quickly.

eurusd buy the 50's

eurusd buy the 50's

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