1 Hour Simple Trading method

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Hello everyone this will be my first thread that involves a using a system that is methodical and fairly easy to understand so go easy on me please lol. i have gathered tools and indicators that i have found useful from other people and combined it into my own trading style. let me know what you think about it and any sucess stories i would appreciate it

Chart setup is as follows:

1 hour chart with candlesticks

Indicators:

13 EMA - white, faster moving markets sometimes i change to 8 also it isnt on my screen shot but i do use it, sorry about that

34 EMA High - Lime Green

34 EMA Close - Yellow

34 EMA Low - Red

200 EMA Rasta color Up= Green, Consolidating= Yellow, Down=Red

MBT Pivot and MBT mid Pivots

CI arrows_v1.1 Also at 20 and the level where you get alert arrows are at 100 and -100, there is also and e mail alert you can take advantage of as well

Bolinger bands at 30

Indidcator Windows:

Stochastic at 14, 3, 3

MACD Taditional stock settings 12, 26, 9

CCI at 20, not 14 which is the stock setting

The first CCI is a line histogram for a nice visual of the slope of the the line that generally coincides with the stochastics

Rules are: There are no rules just guidelines and common sense, but here are a few.

Use the 200 EMA to determine genaral trend and wait for a signal from the cci that follows the trend

if your going to counter trend trade make sure price is very far from the 200 and be cautious cause the trend is you friend, but generally i dont reccomend it.

i will add srceen shots and all the idicators i use so its easier to visualize and understand. i have tried to simplify what i look at as much as possible so there is less emotional thinking and more technical thinking.

I will be uplading screen shot of yesterdays AUD/USD trade that i took that is a good example and the screen shot will also show more than just one trade. i have seen way too many threads where people just show one trade. So remeber as of right now we are in a down trend in the AUD/USD so the shorts are more profitable than the longs. Also the 1 hour charts seems to give me more free time and less time staring at the charts cause it can get overwhelming at times and thats when you start to miss the important clues of the bigger picture.

Side Note if price is braiding inside the 34s is probably consolidating

And ,my roll over is at 2:00 o'clock Pacific Standard time, 5:00 o'clock EST thats where my pivots change

CCI arrows shows and extremely profitable Short entry last night at about 7 o'clock PST with a very safe entry and a minimal to no draw down which doesnt always happen but it is sweet when there is a minimal draw down.

Thanks for listening and i would appreciate feed back. this system works on all currencies but you may have to look around for ones or put them on the ones you normally trade. Good luck! I really like this and hope it can help people that are new or searching for something somewhat idiot proof cause believe me we have all been there especially me. Cheers

Disclaimer

Also please be aware i am just trying to help and trading involves risk and you can hold no one other than your self accountable for you sucess or failure. only you can decide when to trade and when not to. i am a firm believer that every humans destiny is mostly based on his or her own decisions and actions. And i can not be held accountable for something you decide to do or not do LOL. Thanks For your time

 

Thankyou for your post,i will try can you please post the template,and what pairs do you trade using your system on the 1 hr charts?

Regards

 

i will work on getting the templates this weekend i need to update my mt4 platform i think. for some reason it shows my templates as locked. i normally trade the USD/JPY, EUR/USD, AUD/USD, and the NZD/USD. i prefer to trade the asian session also due to the volitility of the US Session. There are trades that are good during both though. i also use this setup on the 5 and 15 min if i am looking to scalp or momentum trade. between 5 and 6 in the afternoon is when almost all the asian markets are open PST and it tends to be more technical unlike the us morning session. if you look at the dollar yen it stayed above the pivot and couldnt make it down to the orange dotted( M2) by 5 or 6 pips had a nice move to get above the pivot and eventually moved up and tested new highs during the us session and still was fairly safe with minimal draw down. And if you didnt want to stay in during the rollover there were 2 cci signals on the hour chart a couple hours before the 2 o clock rollover to kinda confirm the move up. The cci arrows populate on candle closes so also be careful if it is a big candle that creates it cause there can be some retracement the following hour

Pivot lines are numbered as follows too.

The red and blues are resistance and support so from the pivot up to the red is R1, R2, and R3. Below the pivot is S1, S2 and S3.

Green small dotted is m3, orange small dotted is m2.

Orange dashed is m4, and green dashed is m1. pivot theory says that if price cant stay below m2 it will generally fo up to m4 for a long

and vice versa for failure to stay above m3 it it genarally will bounce somewhere near it and head short to m1.

So last night on the Dollar yen price never reached m2 by a couple pips, hit the target of m4 in the us session and basically was contained by R2, the second red line above the pivot.

So even if you werent using the 1 hour chart yeasterday there was 80 pips to be made from the failure at m2 long to m4.

I also am aware of price action at price levels when i trade and if you notice price didnt want to stay below 102 on the dollar yen which was ironically right at the 102 level

not bad for the asian session even though price consolidated above the pivot for a while last night which can get boring to watch, but worth it if you dont mind leaving a trade open all night with technicals to support it

hope some of this helps unless you already knew this.

thanks for the reply and have a great weekend

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