FX:USDJPY   U.S. Dollar/Japanese Yen
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A short while ago I started using Heiken ashi to identify the right X (in my opninion the most difficult part in harmonic trading). Had an idea as to where X might have started that i wanted to share with you. Cheers
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HamzaLeith HamzaLeith
image
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i don t understand why the x is going there with heiken ashi candles
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HamzaLeith nikosda
I have noticed that I have been missing entries just by a few pips due to high x placement. Heiken ashi shows changes in momentum much better that regular candle sticks. for a while I have been testing this strategy. Namely to chose the first candle with opposing color as a start for my X to A. I don't yet have enough data yet to prove that it is always better, but I am missing way less entries. How do you think about it?
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i must test it.if it works for you it's fine.how you place your stop loss?i use ATR for my stops.many times the price exceed the x point and then returns and hit my targets.i n this trade i had my entry @102.150 and my stop @102.338. i just stopped out before the price returns.that's ok the most of the time it works for me.so no problem with that.
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HamzaLeith nikosda
yeah that is the thing, the risk does get higher, so i put my stop loss 10 pips above the previous high. I use the 3 hr chart to validate the entry (for trades i take on the daily chart). so I put my stop loss in this case at 102,6
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HamzaLeith HamzaLeith
But with this strategy It became a bat pattern ofcourse considering the different ratios
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if it works for you.keep doing this.stick to that and you 'll constantly improve.
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HamzaLeith nikosda
Yes I hope so, thank you you too!
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