Hello all, I have made several strategies, and have used them. I am trying to make this new strategy to adjust to my lifestyle. Every 8 am, 12 pm, 4 pm for an hour, I will analyze the major currency pairs. I use Ichimoku on a 4-hour chart to determine the trend direction. Once a candlestick has crossed the Kijun-Sen, I place a trendline above or below (depending on other factors) the candlestick once it finishes. Afterwhich, I use the 5-minute chart with Pivot Point to determine a stop loss. The limit is set by using a 1-hour chart with Pivot Point. Stop losses are placed on the last high, low, or adjacent to a pivot point. The trade is placed once the Chikou Span has crossed the Price Point (not Kijun-Sen) on the 4-hour chart and the candlestick has opened above/below the trendline showing up on the 5-minute chart. I use a daily chart with MACD and RSI to help back the momentum of the 4-hour trade. I also use candlestick patterns to help with decision making as well as some fundamentals. Now, here is the problem. When all conditions are met, I will place a trade. When it works, it works!!! However, there are times that the trade plays against me before it goes the way it is predicted. I think I am missing something and I am open to any suggestions. I am also open to meeting online, over zoom, to further explain the strategy.
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