Double Channels Forex Support and Resistance Strategy

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Double Channels Forex Support and Resistance Strategy

You can use this system to any currency pairs and works on a 1 hour timeframe. Never ever use on lower timeframes.

Forex Indicators:

  • Nonlagdot(20)
  • IBFX-Waves.ex4
  • Supertrend

how to set the channels :

  • 1st channel : draw/drag the equidistance channel line from A to C then put the other channel line on B
  • 2nd channel : draw/drag the equidistance channel line from B to D then put the other channel line on C
  • Draw the horizontal line on A, B, C, D and all (i really mean All) channel line crossover to set the R/S line.
  • Set your supertrend and nonlagdot to 20.

Buy Entry:

  • Supertrend and nonlagdot have the positive color could be blue or green depend on your color set
  • Target Profit is next SR line. You can use neared grid line to SR line.
  • Exit Position: supertrend or nonlagdot change to negative color red or depend on your color set or new price open below the support line.

Sell Entry: opposite from buy condition.

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