New Zealand Dollar/Swiss FrancEducation
Support/Resistance Short 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.
Short Entry Conditions:
1) 40 EMA > 14 EMA.
2) A bearish candle must break below a support level.
3) The price must be under both EMAs.
4) VI(-) > VI(+) by at least .15
5) RSI < 50
6) TRIX < 0
If all conditions are met, enter short.
Stop Loss:
1) Set SL to the closest resistance.
Take Profit:
1) Set TP 1:1 R/R with the stop loss.
In this recent 28 day stretch, 02/19/20 - 03/18/20, this strategy gave 5 successful short entries and over 300 pips on NZDCHF.
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.
Short Entry Conditions:
1) 40 EMA > 14 EMA.
2) A bearish candle must break below a support level.
3) The price must be under both EMAs.
4) VI(-) > VI(+) by at least .15
5) RSI < 50
6) TRIX < 0
If all conditions are met, enter short.
Stop Loss:
1) Set SL to the closest resistance.
Take Profit:
1) Set TP 1:1 R/R with the stop loss.
In this recent 28 day stretch, 02/19/20 - 03/18/20, this strategy gave 5 successful short entries and over 300 pips on NZDCHF.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.