This simple strategy trades the USD/JPY pair on the daily timeframe
with 10 lots. If the 20th previous candle is green then a buy is
triggered with a 60 pip SL and 60 pip TP, consequently if the 20th
previous candle is red then a sell is triggered with a 60 pip SL and
60 pip TP. The risk to reward ratio is a decent 1 : 1. I wanted this
strategy to trade the price bias from the past as it is well known
that price action from the past repeats. I have been researching this
idea for some time, working with cycles - for example 4 weeks, 3
months, 6 months, 1 / 7 / 10 years, “7years-7months-7weeks-7days”,
and even the mystical numerology numbers 666 (bad) and 777 (good) etc.
- btw, SP500 bottomed and started its present 7 year rally from level
666. I have researched and backtested for hours different pairs with
this strategy by constantly changing the shift and RRR, and came up
with the U/J pair for a 4 weeks back daily bias (also spent some time
on getting the sweet 60 pip SL / TP for U/J). The shift 20 in this
strategy is unique.