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I have been operating for 9 months a strategy that has restored my mental peace: �3 Candles and Outside�. There are no indicators, only market structure and price action. It consists in detecting a strong impulse and waiting for three corrective candles before entering. SL and TP fixed. No moving things halfway.
Like it or not, simple systems like this work better than those aberrations full of flecites and oscillators with mystical names. If you need three screens to operate, you're probably complicating it too much.
2-year backtest in EUR/USD and GBP/JPY. 62% hit ratio, with a RR of 1:1.5. It is not magic, but it is consistent. The secret is to be robotic with the rules and not touch anything.
Interesting proposal. Have you tried this in smaller M5 or M1 temporalities? I imagine that there false movements shake you stronger.
@creator 4 Yes, I tried it on M5 and I do not recommend it. This strategy shines on H1 and H4. In very small frames, the number of traps and noise makes it lose efficiency.
It looks like another strategy that works only in Excel. Show me an audited account and we'll talk.
@creator 6 Do you really need to see an audited account to believe that 3 corrective candles and a price action-based entry can work? What you need is to stop looking for gurus and start practicing.
Today I did two operations with this strategy in the AUD/CHF pair. A loser, a winner. Total: +23 pips net. The most valuable thing was the tranquility when operating, knowing exactly what I was looking for.
I operate something similar, but instead of waiting for 3 candles, I expect a consolidation of at least two hours and I enter the break with a SL below the last swing. The concept is similar: expect correction, enter with confirmation.
This reminds me of the old-school ABC technique. Impulse, correction, continuation. I am glad to see that someone has systematized it with clear rules.
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