A profitable strategy for short term trading!!
The only tools we are going to use are resistance and support Lines, trendlines , EMA 10 and EMA 20.
The strategy step by step is the following:
1) In the 4hour chart we draw the support and resistance Lines of major levels. We also get an idea of the intraday trend.
2)Then, we are going lower to 1 hour chart. We try now to draw channels or trendlines . Again we are looking the trend. 4 hour and 1 hour should be the same.
3)We are moving forward to 15min chart. Here is the ''game''. We have obtain the short term-intraday trend from the previous timeframes. We are now looking for retracement moves. As we find them we are waiting for a strong candle. In our chart we can see that after a retracement, doesn't matter how big it is, the price go over the EMAs Due to our bearish trend we would place our short positios as soon as a strong bearish candle appears. By the term ''strong'' i mean a candle whose body is bigger than the last bullish candle (the more bullish candles it ''eat'' the better). This is the 1st condition to put a Trade. The second is the strong bearish candle to cross downwards the EMAs. I mean to close below them.
So pay attention on the 2 conditions that exists in that strategy. In the Top of the graph we can see an incorrect entry bar. Although the price go lower it is not as safe as the way i described above.
Trading is somtimes very simple. You do not need any indicator. And don't forget. The simpliest is the best.
I am waiting your comment.
Thank you for reading.
1 Hour Forex
February 24, 2013 in Trading Systems
By Jason Sweezey /// 1HourForex.com
Free Download 1 Hour Forex.rar :
1 hour forex black.tpl
1 hour fx white.tpl
1_Hour_Forex_Manual.pdf ( User’s manual )
8 Links for videos :
S & R Horizontal Line
S & R Trend Lines
Whole & Mid Point Numbers
S & R Pivot Points & Fibonacci Levels
Entry & Exit Rules
Entry & Exit Rules
Discipline and Trading Tips
Mr Andrea from Italy sent us that system.
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1 hour forex trading strategy
This is a simple breakout trading strategy for the Asian session open times using the 1 hour chart, and price action only.
No indicators are required.
Chart Timeframe: 1 Hour
Currency Pairs: USDJPY
One hour after the Asian trading session opens, wait for the previous candlestick on the USDJPY 1 hour chart to close. Place two pending orders on either side of the previous candle 5 pips away from the previous high / low. Take profit is 40 pips. Stop Loss is the other side of the candle, plus 3 pips.
breakout session setup
startHour refers to the server time you want the trade to execute. This differs for each broker.
Forex Trading Strategy. This is a simple, profitable 1 hour forex trading strategy
Hey All! I enjoyed this video, it was fantastic,I earned from this tools, But I am getting more from ANDYLANK COM although it was launched last month.?
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