The FX forecaster advanced forex trading system comprises of only two customs built MT4 indicators. It can be utilized on any currency pairs and in all trading sessions. Highly recommends utilizing on time frames starting at 30 minutes chart diagram and moving upward to the weekly.
- FXForecaster (default settings) and flat indicator (default settings) are the only indicators required while utilizing this strategy.
- The recommended time frame for trading is thirty minutes and above.
- Applicable on any trading sessions.
- Applicable on any currency pairs while utilizing this technique.
The GBP/USD 4 Hour Chart Instance
As illustrated on the chart below, the technique granted us with four simple to highlight exchanging opportunities. Three purchase signals and one auction signal.
- Pause for the flat indicator to change blue (bullish).
- Pause for the FXForecaster purple candlestick to increase higher up the black candlestick (bullish momentum).
Begin long position. Establish protective stop-loss five pips beneath the prior swing low price or utilize any stop-loss technique you prefer.
Price target: End 50% of your place at risk to reward ratio of 1:1, end the tarrying 50% at risk to reward ratio of 1:2, or better.
Move up stop-loss to breakeven for the 2nd half of your placement when you achieve the 1st aim.
- Pause for the flat indicator to change red (bearish).
- Pause for the FXForecaster black candlestick to increase higher up the purple candlestick (bearish momentum).
Begin short exchange. Establish protective stop-loss five pips higher up the prior swing high price or utilize any other stop-loss technique you prefer.
For the price target, end 50% of your placement at risk to reward ratio of 1:1, end the tarrying 50% risk to reward ratio of 1:2, or better.
Move up the stop-loss to breakeven for the 2nd half of your placement when you reach the 1st aim.
Utilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with utilizing any strategy presented on the site. It’s not recommended to utilize this strategy on the real account without testing it on demo first.