This system is very easy to understand and it is profitable. I prefer a 4 hour time frame to use in this system but 1 hour time frame is also recommended. The good thing about this system is that it will not only give you a good entry point but also a stop level and exit point. The Price Retracement is the most important element of this system, without a retracement or pull back we should not consider any entry point.
This system is designed to use ATR stop level indicator and has the following conditions:
· ATR stop level indicator
· This trading system is an always-in-the-market trading system.
· Long Entry: Price has to cross above the Trailing Stop Level (Red line) and we will wait for retracement and entry will be the high of the last candle of the consolidation plus 3 pips plus spread. We will not enter any trade if the retracement is too deep and breaks the red line.
· Long Exit: We will exit when the price crossing is below the Trailing Stop Level.
· Short Entry: Price has to cross above the Trailing Stop Level (Green line) and should retrace back and enter at the low of the last candle of the consolidation plus 3 pips plus spread. We will not enter any trade if the retracement is too deep and breaks the green line.
· Short Exit: Close price crossing above the Trailing Stop Level and that is our short exit point.
· Suggested currency pairs: EUR/USD, GBP/USD, USD/CAD, AUD/USD, AUD/JPY, EUR/JPY, GBP/JPY and EUR/GBP
· Remember that without money management a golden entry will fail to give you the success that you deserve. Do not enter any trade if the conditions don’t allow you to do so. You must take partial profit
This system is designed to use ATR stop level indicator and has the following conditions:
· ATR stop level indicator
· This trading system is an always-in-the-market trading system.
· Long Entry: Price has to cross above the Trailing Stop Level (Red line) and we will wait for retracement and entry will be the high of the last candle of the consolidation plus 3 pips plus spread. We will not enter any trade if the retracement is too deep and breaks the red line.
· Long Exit: We will exit when the price crossing is below the Trailing Stop Level.
· Short Entry: Price has to cross above the Trailing Stop Level (Green line) and should retrace back and enter at the low of the last candle of the consolidation plus 3 pips plus spread. We will not enter any trade if the retracement is too deep and breaks the green line.
· Short Exit: Close price crossing above the Trailing Stop Level and that is our short exit point.
· Suggested currency pairs: EUR/USD, GBP/USD, USD/CAD, AUD/USD, AUD/JPY, EUR/JPY, GBP/JPY and EUR/GBP
· Remember that without money management a golden entry will fail to give you the success that you deserve. Do not enter any trade if the conditions don’t allow you to do so. You must take partial profit
3 comments:
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Interesting blog. It would be great if you can provide more details about it,Happy new year to you and your family. xoxo
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