Hello, my identify is Marius and I’m a foreign exchange dealer for about three years. If you’re like me you most likely tried each foreign exchange system out right here. Still on the finish of the month I discovered myself dropping cash like all the time. Finally someday I made a decision to make my very own buying and selling system as I used to be so bored with all of the programs I’ve tried that did not work. This system could be very straightforward to implement and it would not require to remain glued on the monitor all day to attend for a sign. You can test each every so often to see if circumstances are met. Before implementing this method you’ll want to learn about Fibonacci’s retracement and pivot factors. If you do not already know Google it as a result of that is past the aim of this text.
Some individuals use Fibonacci, others use pivot factors, shifting averages or pattern traces. My system is about an environment friendly combining of all these technical evaluation strategies.
You might want to setup 2 charts:
1) 1h chart
200 ema(shut)
55 ema(shut)
2) 15 min chart
200 ema(shut)
55 ema(shut)
Signals: 200 ema(1 h or 15 min), 55 ema(1h or 15 min), spherical numbers(like 1.3200), essential pivot factors(S1,R1,M1,M2,M3,M4), Fibonacci’s retracement(38%,50%,61.8%)
Any time you discover a confluence of at the least three of the above indicators there’s you are commerce.
Stop loss: 20 pips
Target: 40 pips
Example: Let’s say that 200 ema on the 1h chart is at 1.3227, 1.3232 is 50% Fibonacci’s retracement of a earlier up transfer and the M1 reversal pivot level is at 1.3230 and present eur/usd worth is 1.3250.
Place a purchase order close to the confluence (purchase 1.3235 sl:1.3215 goal:1.3275)
This system is all about discovering sturdy reversal factors by implementing totally different technical evaluation strategies that merchants use.
On a future article i’ll write extra about refining targets utilizing Fibonacci extensions.
Good luck
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