Candle in channel

Candle in channe,l this system is incredibly easy, but trades don’t occur too often.
Using this system on the 4-hour and Daily charts is advised.
The system uses:
6ema (of price highs)
6ema (of price lows)
50ema (of price closes)
We BUY when price is ABOVE the 50ema, a candle forms INSIDE the
6ema-channel, and price breaks the HIGH of this small candle:
Candle in channel
We SELL when price is BELOW the 50ema, a candle forms INSIDE the
6ema-channel, and price breaks the LOW of this small candle:
Candle in channel
Candle in channel
Exit position
Daily time frame
Set the stop loss level 30 pips below/above the entry the price, or below/above the previous low/high. Move the stop to the entry price (breakeven) at 35 pips profit.
Exit the trade at a profit of 50 pips or more.
4h time frame
Set the stop loss level 25 pips below/above the entry the price, or below/above the previous low/high. Move the stop to the entry price (breakeven) at 20 pips profit.
Exit the trade at a profit of 30 pips or more.

Related

Trend Forex Strategies 4186386687513386376

Post a Comment

emo-but-icon

item