Forex strategies revealed | FSR Forum

Forum transfer: Submitted by User on March 14, 2009 - 16:31.

Hi Edward, this is a great strategy I found. I got permission from Navin to post it here. Great site by the way!
- Z

Time Frame: 15Min Charts or Higher
Indicators: None - Have to go naked on this one
Creator: Navin Prithyani - http://www.urbanforex.com

Ok guys here is a intermediate to advanced strategy. But once mastered. It can be very powerful. Its basically support and resistance but it helps to take the guess work out of picking the right support or resistance level that will hold in the future. Ok enough yapping, lets get to the strategy already.

Strategy: You must be familiar with swing highs and swing lows. So what we need to watch out for now is swings. Once the market is moving, we keep an eye out for 2 swings and then the retracement. Confused yet? Ok just try and read the rest of this out first then I'll put down examples slowly 1 by 1 to show what I'm saying.

In a uptrend:
- You look for a swing high, label it, swing #1.
- Next, you wait for another swing to occur HIGHER than swing #1.
- Label this new high, swing #2.
- Place your buy entry at the high of swing#1.
- Wait for fill.

NOTE: SWINGS MUST BE CLEAR. TRY USING A UPSIDE DOWN "U" SHAPE.

In a downtrend:
- You look for a swing low, label it, swing #1
- Next, you wait for another swing to occur LOWER than swing #1.
- Label this new low, swing #2.
- Place your sell entry at the low of swing #1.
- Wait for fill.

NOTE: SWINGS MUST BE CLEAR. TRY USING A "U" SHAPE.

phew! man, putting this strategy into words is harder than making pips Wink

Ok here are the instructions with pictures:

Forum transfer: Submitted by User on March 14, 2009 - 16:31.

The trades are usually to the pip, stops can be small compared to large profit potential.



Here are some examples: ( I will post a video on the bottom too)

Video Tutorial:

http://www.youtube.com/watch?v=-9wKD1j2CSo

Forum transfer: Submitted by George F. on March 15, 2009 - 08:04.

HI y'all -

Navin P . on urban forex.com told me that this method can work with 5 min bars , but to be careful that the trend is clear, and to use the letter " U " shapes ONLY for the swings .

Also , we need an Exit strategy here . I would suggest using a Trendline breakout , but as Vic Sperandeo pointed out , in one of his books , many traders draw these lines incorrectly .

Any ideas from Edward , User , or anyone on how do draw the lines connecting the points on the bars /candles properly ?

George F.

Forum transfer: Submitted by Manus168 on March 21, 2009 - 11:18.

Did you need to check it out overall Trend from Bigger Timeframe like Daily, & 60 Minutes before we decide to enter position in m15 ?

Where the Stop Loss we must put & which leve we much Take Our Profit ?

Regards;

Manus168

Forum transfer: Submitted by Manus168 on March 21, 2009 - 14:20.

Seems "little bit" similar with 123 - Ross Hook Strategy by Joe Ross .

Regards;

Manus168

Forum transfer: Submitted by Jim on March 23, 2009 - 22:51.

Its the 1-2-3 method that seems a lot like Ross's Hook.

Jim

Thanks for sharing this strategy. Very useful

Hi thx for nice one strategy,
I used this strategy first time at morning on nse-nifty trade(demo) with 1 lot and booked nice profit. But i want used this strategy with stochastic(5,3,3) . I see if trend is downside and also see stock<50 then only enter viseversa for buy.I have a chart for my first trade but how to upload chart here if anyone pls tell. I want to try more trade with this strategy then i'll put my opinion more on this strategy.
thx again....

Thanks for sharing but please when do we start counting the swings?

Hi All
Nice strategy but to confirmt a trade first we have to see 'U-Shape' . But U-Shape not possible manytimes.Then how u trade with this strategy .
Regards
Paresh