Hi, I wrote this post is just to remind me how to trade on the next Super Signal v2. Super Signal v2 is an arrow indicator showing up and down. But I do not open the trade immediately after the arrow is appear. Based on my experiment, we can get better chance to reach the profit target if we open the trade after the next candle is completely developed. See this example:
On the chart above, we’ve seen a down arrow appear on top. But we need to wait until the current bar closed. Also we need to wait the next bar also completed. This is to minimize or to filter many fake outs. Next, we draw fibonacci from the top of the candle which has arrow to the bottom of the next candle.
So, the key here are:
- Wait until we see arrow (up or down). Up for BUY and down arrow for SELL
- Wait until the next candle is completely developed/closed.
- Open SELL or BUY when price break the second bar/candle.
- Our target is level 161.8 or you can go for level 200 for 1:1 ratio
I will post more example on this Super Signal v2 strategy. If you need Super Signal v2 indicator. Please leave me your comment with email and I will send the indicator to you.