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CCI with Support and Resistance Forex System

CCI with Support and resistance is a reversal strategy. This trading system generates buy signal from support and oversol zone and short signals from overbought zone.
Time Frame 30 min or higher.
Currency pairs:any.
Forex Indicators:
CCI period 21 (with levels 100, 0, -100).
Draw support and resistance lines.
Trading rules CCI with Support and Resistance Forex System
Buy
The price bounces on the support and the CCI is in the oversold area.
When the CCI to cross o level from lower to upper. place a buy orger.
Place initial stop loss 5 pips below the support.
Make profit with ratio 1:13 stop loss.
Sell
The price bounces on the resistance and the CCI is in the overbought area.
When the
CCI to cross o level from upper to lower place a sell orger.
Place initial stop loss 5 pips above theresistance
Make profit with ratio 1:13 stop loss.
In charts below random examples.
CCI with Support and Resistance Forex System

CCI with Support and Resistance Forex System

CCI with Support and Resistance Forex System

Below the link for download support and resistance indicator MT4
CCI with Support and Resistance Forex System Reviewed by learn forex trading on June 25, 2017 Rating: 5

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