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:
Place a sell stop order 1-5 pips below point 2.
Place stop loss 1-5 pips above point 3.
Your profit target should be placed at 3 times the stop loss distance.
Long Entry Rules:
Place a buy stop order 1-5 pips above point 2.
Place stop loss 1-5 pips below point 3.
Profit Target is 3 times the stop loss distance.
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.
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.
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:
August 20, 2019
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