Please discuss my setup
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Hello all traders
I here want to share my setup. I am using this setup for more than one month & its not bad. The indicators in my system are as follow.
EURUSD M30
1. Donchian bands (default)
2. SuperTrend1 (default)
3. Gann HiLo (3)
4. XpPivot
5. 55 SMA
6. 144 SMA
7. Stochastic (5, 5, 2)
8. T3RSI (5, 8, 0.7)
9. T3RSI (13, 34, 0.7)
Entry
1. Close above or below SuperTrend1
2. Close above or below Gann HiLo
3. Close above or below Donchian Mid Band
4. Stochastic crossup or crossdown
5. Both T3RSI - RSI & T3MA crossup or crossdown
Exit
Normally I exit with Support & Resistance, Fibo nos and Trend lines. But I check the opening of T3RSI (13, 34, 0.7).
I am sorry that I am not clever enough to explain my setup. If somebody found its interesting please try on demo at least 2 or 3 months and try to setup to get your own exit point.
I want to explain today trading. Everyday I started at 00:00 GMT. Today fortunately I got Entry signal at 00:30 GMT and I jumped in. But Price is still above Donchian Mid Band. So I say prayers for 2 and half hours and Price closed below Mid Band. I used 55 SMA and 144 SMA as S and R . Price first crossed Donchian Lower Band, Daily Pivot Level and both SMAs. I waited for Price to pass XpPivot Support 1. After pass through Support 1, I checked H4 and D1 TF.
In D1 TF, yesterday morning I guessed that price will go up and finish around 1.3750 to form head and shoulder OR stop around 1.3855 to form Double Top. Yesterday high was 1.3743 and close at 1.3719. So I guessed today will be bearish. So I jumped in a little bit earlier before price close below Donchian Mid Band. Fortunately my guess comes true. I used 50% Fibo level for TP bcos it coincide with Trend Line in D1 & H4. I set TP at 1.3585. Price fall down to 1.3581 and gave me 120 pips. But you can see T3RSI (13, 34, 0.7) is still showing downward. I cant say trend will reverse here. If I was still in market, I will shift my SL to 1.3615 and my next stop will be around 1.3520. But I am not sure bcos T3RSI (13, 34, 0.7) shows convergence.
I attached 3 snapshots. I will be so glad if I get any feed back.
BTW, I want to name this setup "mithetnme Forever" but you guys call whatever you like. If you like this one, try with demo, if you dont , just forget it or feed back anything good or bad.
for heavy pips everydaysssss
mithetnme