Euro / British PoundEducation
Support/Resistance Long Strategy
Chart TF: 4H
Indicators: 14 EMA, 40 EMA, Vortex Indicator 30, RSI 22, TRIX 10
I have been tweaking this simple, yet profitable, system for a few weeks and wanted to share it with the public to receive feedback/opinions.
This post will go over the long entry conditions, look at my profile for the short conditions (they are simply flipped).
Long Conditions:
1) 14 EMA > 40 EMA.
2) A bullish candle must break above a resistance level.
3) The price must be above both EMAs.
4) VI(+) > VI(-) by at least .15
5) RSI > 50
6) TRIX > 0
If all conditions are met, enter long.
Stop Loss:
1) Set SL to the closest support.
Take Profit:
1) Set TP 1:1 R/R with the stop loss.
In this recent 21 day stretch, 02/26/20 - 03/18/20, this strategy gave 6 successful long entries and over 500 pips on EURGBP.
Indicators: 14 EMA, 40 EMA, Vortex Indicator 30, RSI 22, TRIX 10
I have been tweaking this simple, yet profitable, system for a few weeks and wanted to share it with the public to receive feedback/opinions.
This post will go over the long entry conditions, look at my profile for the short conditions (they are simply flipped).
Long Conditions:
1) 14 EMA > 40 EMA.
2) A bullish candle must break above a resistance level.
3) The price must be above both EMAs.
4) VI(+) > VI(-) by at least .15
5) RSI > 50
6) TRIX > 0
If all conditions are met, enter long.
Stop Loss:
1) Set SL to the closest support.
Take Profit:
1) Set TP 1:1 R/R with the stop loss.
In this recent 21 day stretch, 02/26/20 - 03/18/20, this strategy gave 6 successful long entries and over 500 pips on EURGBP.
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