Set & Forget Forex Support and Resistance Strategy

0
972

Set & Forget Forex Support and Resistance Strategy

This is a strategy that works on any currency and uses price action in trading. This works best on a 4 hours timeframe.

Forex Indicators:

Trade Day – it shows the maximum and minimum prices for the day and sign the name of the trading days of the week.

Settings:

  • _color2 = Gainsboro; – color lines
  • limit = 30 – number of daily bars displayed
  • Sho_bars = true; – skip the line daily bars
  • Gann square sq9 indicator: setting andle up 25, angle down 25.

Long Entry:

  • If the last bar of the day close above the Gainsboro line, place a pending order on the above next resistance of the Gann square indicator.

Short Entry:

  • If the last bar of the day close below the Gainsboro line, place a pending order on the below next support of the Gann Square indicator.

Stop loss 2 pips below or above the last 4 hour bar of the previous day.

Profit target 10 pips.

Recommended MT4 Brokers

XM Broker

  • Free $50 To Start Trading Instantly! (Withdraw-able Profit)
  • Deposit Bonus up to $5,000
  • Unlimited Loyalty Program
  • Award Winning Forex Broker
  • Additional Exclusive Bonuses Throughout The Year

XM broker

>> Sign Up for XM Broker Account here <<

FBS Broker

  • Trade 100 Bonus: Free $100 to kickstart your trading journey!
  • 100% Deposit Bonus: Double your deposit up to $10,000 and trade with enhanced capital.
  • Leverage up to 1:3000: Maximizing potential profits with one of the highest leverage options available.
  • ‘Best Customer Service Broker Asia’ Award: Recognized excellence in customer support and service.
  • Seasonal Promotions: Enjoy a variety of exclusive bonuses and promotional offers all year round.

fbs broker

>> Sign Up for FBS Broker Account here <<

Click here below to download:

Save

Save



Get Download Access

LEAVE A REPLY

Please enter your comment!
Please enter your name here