This easy strategy based on two indicators: RSX and Pivots. Actually i am not a developer of forex time frame indicator one, i just had realize: This system perfect fits my style of trading. Id like his origin idea very much, before he switched to trading with supply and demand areas.
D areas are very powerful in forex and trading with that ones could be very successful, but i wanna make something different. Maybe i can be very successful with that one and reach my personal target: Make trading for a living or i will completely fail and burn my account in a few days, who know. If what you do works for you, great! Keep doing it but also keep learning. I like the simplicity of it, almost a naked chart.
USD pair bounced nicely from Weekly S1 with a hammer, RSX is oversold. Both conditions are true, you entered a trade after the hammer. Set your SL 20 Pips, your TP is 40 Pips, i set also a trailingstop on 20 Pips in this strategy. Currency traders see pivot points as markers of support and resistance. Because pivot points are thought to work well in very liquid markets, the spot forex market may be the perfect place to use them.
Day traders use the calculated pivot points to determine levels of entry, stops and profit taking by trying to determine where the majority of other traders may be doing the same. Forex pivot point calculators are available free of charge across the internet through retail forex brokers and third-party websites. The main Pivot Level is the most important level . In a trading day, if price opens under this level, it means it has a stronger tendency to go down and Bears are stronger. All other levels may work as support and resistance and so we have to be careful when price reaches them. I will not take any position just because the price is opened below or above the main Pivot Level. I use my technical analysis, find patterns and pennants and will have an eye on the Pivot Levels to close my trades on time before I lose my profit.
Then I wait for a breakout and will take the proper position. For example, I would consider that price was opened above the Pivot Level and it had a stronger tendency to go up. Then I would wait for the price to break above the wedge and then I would go long. Then I would have an eye on it and as soon as it showed some reactions to the R1 level, I would fix my profit.
So Pivot Points are just some help. This entry was posted in Best Forex Trading Systems. We’ll assume you’re ok with this, but you can opt-out if you wish. I have tested Winning Pips Signals Indicator.
It is highly profitable with even high and insistent risk by getting signals from this. It is great indicator because it does not show repaint at any time frame. It very often gives signals when there is trend line break, if you do business it with the major trend and move your sl to be after 10-15 pips you will have very a small number of losses and many winner. It’s the most precise indicator I have ever seen. M5, as well as only on European session.
It can give me 30-50 pips per signal. If you examine this indicator, please share your experience with us too. This System is a combination of Two powerful indicators. These indicators are created by Mustapha BELKHAYATE. This System is part of the New Forex Trading System. Canadian fund dedicated to physical gold . He was the winner of professional traders world championship in Switzerland.
VFX SYSTEM is very simple to use. How to BUY using VFX SYSTEM? How to SELL using VFX SYSTEM? How to define profit Targets using VFX SYSTEM? How define Stop loss using VFX SYSTEM?