i have traded forex for 12 years so i still stick by what i said you can say you think different but that is what makes the market i trade what i see and what i have seen
you can follow this thread if you like. that is why i opened it to show that you can trade forex using Brooks idea and his methodologies.
long audusd target as indicated no stop ready to scale in....4-5 times very wide mental stop....25 pips
added two more positions......H2 and wedge pull back also base built at lows....as described by Toni Hansen...... there is also a trendline break which was retested. so all put together gives a little more confidence......so if any down move i will add some more
i do not use only moving averages or only channels or only Brooks or only Hansen. there are market conditions that it is ideal to use channels or ideal to use Hansen or ideal to use Brooks i do not stick to one system
but everyone is studying the same animal so they must all come to the same conclusions but by different routes
all DB are not equal a double bottom made with less momentum or with higher momentum........they will not result in the same. this is what Toni taught me..... also a Db made after ten bars is not the same as a DB made after 3 bars...time is also a consideration. obviously. if you have a strategy that is 100% probability and a risk reward ratio of 1: 200 but it will take 10 years to reach the target ..... well only Buffet will love that
closed trade.....made a profit the same as i would have made if i closed at the high seen on the chart after i entered. moral: trade smaller than small...... scale in when you think it is time