Out of the valley of darkness

This week saw a good turnaround and managed to pull up the account by it's bootstraps to produce a sizable profit increase. I have finally settled upon a workable methodology that holds out well even on back tests. It is by no means revolutionary and I did actually mention it in my last posting. It simply requires no more than an AO indicator placed on a H4 chart of any currency pair, however personally I do prefer the EURUSD. Trades being activated by the 2nd histogram bar of a zero crossover. In my setups I stick to a 80 pip SL and a 50 pip trailing stop. and only ever execute buy trades on the green histogram bars  in the positive and place sell trades on the red histogram bars in the negative. One will find that red bars in the positive and green bars in the negative are generally only re tracement corrections within the market place so therefore should be avoided. In the above example screen shot is this weeks EURUSD chart on a H4 time frame. The red line signifies the sell whilst the blue line is where the trade would have been closed. This particular trade would have yielded 144.7 pips profit.   

Have a good weekend everyone.   

Percentage gain/loss as of 10.7.11 =  +11.84%
Profit Factor = 0.94