After my latest thread about the 🛡️ Nx BIAS 🛡️ indicator for determining market bias, I decided to take a scalp trade as a backtesting exercise on the CHFJPY pair.
Entry details:
Defined the DOL and Invalidation levels using the Nx Bias indicator on the 4H timeframe.
Identified the area of interest and executed the entry on the 5M timeframe for the same pair.
📍📍 Note: I missed the first entry zone, but I re-entered on the second opportunity with a 1R target.
The reason for the second trade was the high probability (+80%) of reaching the target. Normally, I risk 0.5% of my capital per trade, but this time I increased it to 1% for the second entry.
Next steps and forward testing:
I will be testing this indicator more extensively. The main goal is to rely solely on it for bias determination under live market conditions to evaluate its real-time performance, moving beyond backtesting results.
Disclaimer: Do Your Own Research (DYOR).
Best regards,
Note: The indicator is not yet available and will be released soon under the name Nx Candle Bias.
Entry details:
Defined the DOL and Invalidation levels using the Nx Bias indicator on the 4H timeframe.
Identified the area of interest and executed the entry on the 5M timeframe for the same pair.
📍📍 Note: I missed the first entry zone, but I re-entered on the second opportunity with a 1R target.
The reason for the second trade was the high probability (+80%) of reaching the target. Normally, I risk 0.5% of my capital per trade, but this time I increased it to 1% for the second entry.
Next steps and forward testing:
I will be testing this indicator more extensively. The main goal is to rely solely on it for bias determination under live market conditions to evaluate its real-time performance, moving beyond backtesting results.
Disclaimer: Do Your Own Research (DYOR).
Best regards,
Note: The indicator is not yet available and will be released soon under the name Nx Candle Bias.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.