Sideways Market Analyser Trading Setup
In terms of theory, Sideways Market Analyser can offer you the very good timing for trading. Your actual entry can be sharpen up if you can add the following process in your trading decision.
Instead of relying on the original logic and mechanical trading rules, please consider to identify support and resistance near the sideways Box.
You have to do this manually but it is not so difficult to do so. Here is the rule for identifying support resistance near the sideways Box.
1. Even if Sideways Market Analyser found the box, wait for some time for the market to show some obvious patterns.
2. extended line of Support or resistance should meet or should pass near the Sideways Box.
3. Draw the line around the Sideways Box and wait for the future breakout. You will see quite often this trading will goes right for you.
Here is the reason why you need to find the support and resistance near the sideways box. It is because you can use the original take profit and stop loss target from your original backtesting suggest. With this setup, quite often I found that the half of the original stop loss is enough.
When you are using this trading setup, you do not have to be too obsessed with backtesting results because your entry is not identical to the original mechanical trading setup. However, try to do as best as you can using Net Pips gain criteria.
Below is one example of the screenshots for the step 1, 2 and 3.
To visit our website, follow the links below: