The 123 Forex Swing Trading Strategy




This is a very simple method and works by identifying areas of support and resistance that forms as the market make a trend will be taken on the break of the support or resistance levels.
This is effective on a 1-hour timeframe or higher. You can use MACD as a filter indicator. this system is applicable to any currency pairs.

Short Entry Rules:

  1. Place a sell stop order 1-5 pips below point 2.
  2. Place stop loss 1-5 pips above point 3.
  3. Your profit target should be placed at 3 times the stop loss distance.

Long Entry Rules:

  1. Place a buy stop order 1-5 pips above point 2.
  2. Place stop loss 1-5 pips below point 3.
  3. Profit Target is 3 times the stop loss distance.

Trade Management:

  • Move stop loss to break even if your trade is in profit by amount risked.
  • If it is 2 times the amount risked, move the stop loss to lock in profit equal to the amount risked initially.

Advantages:

  • The use of the resistance and support which is on of the basics of trading and used by beginners.
  • There will be a huge price movement when the support or resistance levels are broken in a trending market at the beginning of the trend.
  • Price action is used or 1 t0 2 indicators.

Disadvantages:

  • Stop loss are large and lot sizes need to be calculated to manage the risk.
  • It performs poorly on a ranging or sideway market.
Use AUDUSD for template purposes.

How to install The 123 Forex Swing Trading Strategy?


  • Download The 123 Forex Swing Trading Strategy.zip
  • Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
  • Copy tpl file (Template) to your Metatrader Directory / templates /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your forex strategy
  • Right click on your trading chart and hover on “Template”
  • Move right to select The 123 Forex Swing Trading Strategy
  • You will see The 123 Forex Swing Trading Strategy is available on your Chart

Click here below to download:


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