teaguetrading

Backtesting: GBPCAD using the ECC11 Strategy

Education
FX:GBPCAD   British Pound / Canadian Dollar
One of the tools I use for scalping or short term trades is the ECC-11 strategy. If you are unfamiliar with this strategy, please look at my review of it. This will also explain the settings used on the Ichimoku Cloud .

This was an idea presented at 08:15am UTC on May 21, 2019. The aqua colored lines represent the exact date/time and price the idea was presented at.

As you will learn, the rules of the strategy state that for a sell, the Blue line should be above the Red line. This is clearly the case in this example. One other indicator that I personally use to the RSI to 7. As you can see on the 15 chart the RSI is very low, but it's been pointing down the previous 15-30 minutes.

Since this is a 15m idea, the goal is to get 10 pips. for the trade. In this example the goal of 10 pips was met, a few hours before major news hit that pushed the pair quite high.


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