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you are right with the missing of rules for taking profit. However, the document contains some exit rules ...
But stop loss rules are defined: the stop loss for long entries is the lower band of the price action channel (PAC). Fot short trades it's the upper band ...
Oh yes, I see this now. I haven't looked at this doc in a few.
If I recall correctly, use the 15 m chart for best results (also, ((for confirmation))pull up a 1hr plain chart and add your trendline) and + 5 and spread for your SL's at the bands. Good luck.
Cheers
Quote:
Originally Posted by Chris29
Hello Pip Trip,
you are right with the missing of rules for taking profit. However, the document contains some exit rules ...
But stop loss rules are defined: the stop loss for long entries is the lower band of the price action channel (PAC). Fot short trades it's the upper band ...
Have you been using this methology? If so, what are your results? I've taken my first 2 trades and netted 44 pips so far. The markets are really choppy right now so I took very short term trades. If we start to trend I'll saty in the trade much longer.
What is the TFX Reversal signal and where can I get it?
Thanks
Hi Rick,
The closest indicator that I could find is the "super signal". Paints arrows at the top and bottom reversals. The only problem it repaints until it actually gets to the candle that is the reversal candle. So on the first arrow you just can't jump in. You need to wait for the next candle to complete until you know the arrow won't repaint. Just do a search on "super signals' in this forum. I'm sure you'll find it. These indicators look very much alike. Maybe someone who has some experience with the TFX reversal indicator can shed some light on this?
Maripat, please don't understand me wrong. This is not my strategy, I found it on another webside.
RickW00716, the TFX Reversal seems not te be for free. But the PerkyASCTrend indicator comes along with the same results. Please have a look at tfx Reversal .... or ..... PerkyAsctrend1 ....
Downunderdave40, I haven't use this method until now. It's new to me, too. But it really seems very promising ...
Linear Mode
