38# Kevinator Retracement Trading System
Submit by janus trader (written by
This is a scalping system based on the retracement of the price.
Time frame: 5m Kevinator system Major only.
Pairs: Majors (eur/usd, usd /chf, gbp/usd, aud / usd, usd / cad, usd/jpy, gpb/gpy).
Retracement bars are the magneta (purple) bars on the indicator on the bottom.If the market is stepping down you take the downward magneta bars as entry.If the market is stepping up you take the upward magneta bars as entry.
You can either enter the market (long term) when the mtf stochastics is changing directions and hold until trend is done or at any of the retracement bars going in the direction of the trend and hold (20-400pips)
You can scalp the market by finding the direction of the current trend (stepping up or stepping down) and entering the retracement bars
There are two ways to trade this system but the entry rules are solid.We have a solid method to define a trend (mtf stochastics) and a solid entry method (enter on retracements).
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Retracement Forex Strategies