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58# 3 candles High or Low Trading System

Submit by ForexStrategiesResources

 

Time Frame 5min.

Pairs: EUR/USD, AUD USD, GBP/USD

 

Entry

3 consecutive candlesticks must be either bullish or bearish. Also it must be in slope

 

Stop Loss

Higher or Lower second candle

Profit Target: 6 pips AUD/USD, 8 pips EUR/USD, 10 pips GBP /USD

 

 

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Comments: 2
  • #1

    Dragonspeak (Thursday, 24 May 2012 14:41)

    Seems to be good system. Making a backtest, I think a good exit would be to close the trade when we get a bullish bar if we sold or bearish bar if we bought.

  • #2

    Gaz (Friday, 16 December 2016 11:01)

    This looks pretty good - so far 47 trades netting 130 pips with 35 wins and 12 losses. I've been trading EUR/USD, AUD/USD, USD/JPY and USD/CAD using a 7 pip take profit on all and setting the stops as suggested here.