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123 Patterns Forex Trading Strategy Currency Pair: Any Currency Pair Time Frame: 5 minutes – 15 minutes Indicators: 123 Patterns (VolMaFast: 12, VolMaSlow: 144) Strategy: Long Position: The rules for long entry are as follows. 1) Wait for new blue-orange lines to appear on your chart. 2) The price has to go above the blue line. Target: Since the time frame is short, look for 10-20 pips. Stop Loss: 10 pips + spread.


Example:

In the picture above you can see that the price climbs above the blue red line. That is the long (buy) signal. In order to avoid unexpected movements, do not trade right before important economic data releases. In some cases (trend line breakouts) you may aim for more than 10-20 pips. Short Position: The rules for long entry are as follows. 1) Wait for new blue-orange lines to appear on your chart. 2) The price has to go below the orange line. Target: Since the time frame is short, look for 10-20 pips.


Stop Loss: 10 pips + spread. Example:

In the picture above you can see that the price drops below the orange red line. That is the short (sell) signal. In order to avoid unexpected movements, do not trade right before important economic data releases. In some cases (trend line breakouts) you may look for more than 10-20 pips. For Downloading the indicators and templates for the above strategy, please visit http://forex-strategies-online.com/123-patterns-forex-tradingstrategy/ For more forex trading strategies, please visit


http://forex-strategies-online.com

123 patterns forex trading strategy  

123 Patterns Forex Trading Strategy uses 123 patterns indicator. This can be used for any currency pair and this is for 5 minutes and 15 min...

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