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Buy Now, we are very happy to show you the features and the Real account to proof it performance, which has greater capabilities to help you get big profits. Once a double top or double bottom occurs, it is often followed by a change in price direction. While candlestick charts provide a lot of useful information, we wont initially need this level of detail. I have experimented with this method on the daily chart, this also works very well. Take profit The take profit should be at least the size of the stop loss, giving you a risk to reward ratio (R:R) of 1:1. . The chart below contains a W (or M, depending on how you look) pattern, but it is much too small in the overall context of the price action of the past period. I trade it on the 4H chart, but it also works on higher and lower time frames. Once we have found such a pattern, we set a pending buy (for W) or sell (for M) at the nose of the letter (the middle bit). Price will often retest those specific levels, which is why the WhaM trading system works. I dont even use candlestick charts for this strategy!
Submit by joy22, time Frame 15 or higher. 1.1 Free Download Download the Forex Trading Strategy With Smart Buy Sell Signals About The Trading Indicators The adx-ma. Not only that, but they need to be shaped like the letter W or the letter M (see where smart forex trading system that catchy WhaM name comes from?). Entry Once a W or M pattern has formed, you can put a pending buy or sell at the nose. We want to see the patterns as clearly as possible. Risk Management As I do with all the forex trading strategies I use, I employ a strict 1 of equity rule as the maximum risk per trade. When the W and M pattern is completed, however, that level has broken.
Since that might not be very descriptive, let me give you an example. . Once such a pattern is identified, we will take an entry at the nose of the pattern (the middle of the letter). On the left side, we use a line chart and on the right side, were using a candlestick chart: If we were to just set our stop loss levels using the line chart, we might have risked placing them too close to our entry. Stop Loss for Buy Entry: Place stop loss below medium-term support. The, forex, trading, strategy With, smart. 1.1, bears are smart forex trading system said to be driving price lower, hence a trigger to go short on the designated fx pair. Indicators: 8smahlc/3 18SMA HLC/3, parabolicSar (0,026, 0,5) (Stochastic 12; 12; 5 mACD (8, 21, 1). Given the rules and considerations Ive described above, it is quite easy to understand and implement. This trading strategy is not created. The double top or double bottom Regardless of the W or M pattern, double tops and double bottoms are a powerful existing chart pattern. Often, if the retest of the nose triggers a sustained move in the opposite direction, we can see that a R:R of 1:2 would also work quite well.
While these checks are mostly optional, I have found that following them will give me a larger win-rate. Download the, forex, trading, strategy With, smart. Lets look at an example of an eurusd chart: See the clean W shape? . For now, lets have a look at an example of a good M pattern: As you can see, I have set a pending order (a sell limit order) at the nose of the M pattern, with. I read about it a long time ago from Will at m, who originally came up with these patterns and found a way to trade them. Fair point, thats why I want to get into detail on why exactly this works. Detailed manual AND THE best support 24/7 30-Day money-back Guarantee, buy Now, ultimate 997 1 Live Account License, changing account unlimited number OF smart forex trading system times.
Ex4 is a modified RSI type oscillator that gives traders critical information regarding overbought/oversold market conditions. And most importantly: it just works incredibly well. Heres an example of a chart (on. Conclusion: the WhaM forex trading strategy This forex trading strategy is surprisingly simple. Youll see that it can give very decent returns. The W pattern There are some more details (which Ill cover in a moment but thats basically it! Our Pricing, the choice is yours. If we would have set a pending buy at the nose of the W pattern, what would have happened? What do you think is important when looking for good W and M setups? Our pending sell order got triggered when the price retraced temporarily, only to plummet down and take out our take profit level. The patterns, so lets get to it! 1.1, price is said to be driven lower, as such a sell alert is in the cards.
Share your opinion, can help everyone to understand the forex strategy. Simply put: double tops and double bottoms just work. This is my interpretation of the system and how I currently trade. Its one of the strategies Im actively trading and its by far the one with the least moving variables. Subscribers run a copier EA which receives the signals and automatically mirrors the sender's trades. If you check your charts, youll see that this pattern happens fairly often. Cleanliness of the pattern Every time you find a WhaM pattern, think to yourself: Is this really a clean W or M-shaped pattern? 0, one of the first thing we hear in the forex market is to always Buy Low, Sell High but considering the volatile nature of the forex markets, being able to figure out suitable entry points can be a daunting task for just about anyone.
No indicators are needed for this trading strategy. The sender runs an EA which broadcasts trading activity. Interpreting the accompanying trade setups for this strategy is straightforward and requires spending less time in front of your trading screen. By sharing this strategy for free, Im hoping that some people will benefit from. Example of W pattern without sharp nose: What you should avoid are M and W patterns smart forex trading system where the price has been lingering at the nose.
At this point, Id like to invite you to switch to line charts and have a look at your own charts. Really, its super straightforward. The program is available for free download! Ideally, you want to see a long first leg in one direction, then the pattern and then a long final leg in the opposite direction. This enables you to play out your edge more often, which is a benefit. Smart Forex Trading Basic EA - Smart Forex Trading Ultimate.
If this sounds like a sales pitch, its only because I always get excited telling people about it Dont worry, Im not selling anything. If, after reading, you feel that this article was useful to you, Id appreciate it if you share it so more people can learn about this forex trading strategy: Lets get to it, shall we? There are a few things that are important when were looking for the best W and M patterns setups and Ill get to that in a minute. In that case, it would be more acceptable to use a bigger reward-to-risk ratio, as we can anticipate a strong reaction at that level. Thats not me inventing something, they are one of the most fundamental chart patterns around. Strategy, long Entry Rules, enter a bullish trade if the following smart forex trading system indicator or chart pattern gets put on display: If the blue dotted line of the adx-ma Metatrader 4 forex indicator gets aligned slightly below the candlesticks as depicted on Fig. Ex4 (Inputs Variable Modified; Ma_Period36 delta-rsi-indicator.
Sell Entry Rules, go short if the following setups gets displayed successfully on the activity chart: If the red dotted line of the adx-ma custom indicator gets placed fairly above the candlesticks as seen on Fig. The choice is easy. This trading strategy is so easy to use, even your parents would be able to trade. If the price returns to that area, its not uncommon to test previous highs or lows. Cleanliness of the pattern.
It might very well be that the level of the nose is exactly at a strong zone of previous support or resistance. Stop Loss for Sell Entry: Place stop loss above medium-term resistance. If youre looking for the best software to do forex back- and forward testing, thats the one youll want The M pattern Now, dont go jumping into every W and M pattern you see on your charts just yet! Does the price often return to the nose of the pattern? Thats exactly what were looking for. I also want to show that trading systems dont have to be complicated and trading consistently and profitably is absolutely possible, given proper rules.