Free and Simple forex trading strategies that work! Easy to follow, step by step, with withdraw proof. This forex trading system I use it myself with great result.
Here are the explanation of the video above;
I trade using support and resistance, and utilyzing price behaviour around support and resistance level. Price tend have some pattern around support and resistance level, and that’s the key in my trading system.
What is support in forex?
A support level is a level where the price tends to find support as it falls. This means the price is more likely to “bounce” off this level rather than break through it. However, once the price has breached this level, by an amount exceeding some noise, it is likely to continue falling until meeting another support level.
What is resistance in forex?
A resistance level is the opposite of a support level. It is where the price tends to find resistance as it rises. This means the price is more likely to “bounce” off this level rather than break through it. However, once the price has breached this level, by an amount exceeding some noise, it is likely to continue rising until meeting another resistance level.
If a price breaks past a support level, that support level often becomes a new resistance level. The opposite is true as well, if price breaks a resistance level, it will often find support at that level in the future.
Support and resistance levels can be identified by trend lines (technical analysis). I am using horizontal trendline. Reason? simply my own habbit, and I am feel confy using it, also give me good trading result.
One thing to remember is that support and resistance levels are not exact numbers. i prefer to see it as an area
The key point of my sistem trading
1. you need to understand the concept of support and resistance. See the video description
2. You need to understand the support and resistance concept when price break it; Support become resistance and resistance become support. See the video description
2. I use horizontal line to define support and resistance level.
3. I did not use diagonal trendline. Not because its bad, it’s jut I trade better with horizontal line, that’s all.
4. Mostly i trade with major pair.
And here is the set up
1. I trade in HI (one hour) and H4 (4 hour) time frame
2. Find the higest and lowest point in your chart,put horizontal line there. .
3. Find also previous support and resistance that already broken by the price. put horizontal line there
4.Start from H4 then move to H1
5. Buy at support area, and sell at resistance area
6. You also could use pending order: buy limit or sell limit
7. Stop loss at 40 pips (400 pips in 5 digit account)
8. take profit around 30 pips or more. I prefer at least 1:1 risk ratio
10. thats it
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