Forex Strategies Forum

[AsherEWT]

I just thought to post a detailed step by step guide on how to trade with this wonderful setup which is actually a combination of Ichimoku Kumo Breakouts and Heikin Ashi’s Doji Candle for the Exit strategy.

Please note that this strategy can be applied on any market (not just forex) and any timeframe, Of course, like any system we get better and more reliable signals on 4H …

Here are the rules:

1. Wait for the Candle to Close outside Kumo Cloud
2. During Next Candle, place a Pending Order at the Closing Price of last candle
3. Place the Initial SL below the Kumo Cloud
4. Enjoy your trade as long as the price is above Kumo Cloud (for Bullish trades, price should be below Kumo Cloud for Bearish Trades)
5. Watch out for Heikin Ashi Doji Candle
6. Once you’ve a Doij (Closed) candle, move your SL at the LOW of that Doji Candle
7. If the DOJI is validated, the LOW should be taken out during the next few candles and your profits will be booked
8. If the DOJI wasn’t validated (as it happened at Point 2 in our chart) your trade will continue
9. Keep looking for New DOJI candles and move the SL at the LOW of new DOJI Candles (notice how our profit was booked at Point 3)
10. Same procedure applies in reverse form for a Short Selling Trade

Hope that helps …
Asher
http://www.ichi360.com