Forex Super Profit Levels Support Resistance Trading Strategy

Forex Super Profit Levels Support Resistance Trading Strategy:

Buy trades rules

1. The trend must be heading up.

2. Wait for the price to climb up towards a round numberlevel. We want the price to break 2/3rds of the entire rangebetween 2 round numbers. For example, if we are in uptrendon the EUR/USD and price is in between the 1.3000 and1.3100 levels, we want the price to climb up above 2/3 of thisrange or above the 1.3067 level to consider that as a possible long trade set up.

3. As soon as price reaches 15 pips below the next roundnumber, we can open a buy order. If we use the same examplewith the EUR/USD pair above, as soon as price breaks the1.3085 level, we can go long. We can also use a pending order to enter trades.

4. The stop loss is set 15 pips under the entry point.

5. We have 3 options in setting the take profit

Managed.

a) Conservative exit The next round number. In the EUR/USD example above, our first target is the 1.3100 level.

b) Aggressive exit This is the round number level plus 15 pips. In our example, it will be at the 1.3115 level.

c) Managed exit Here, we close half of our position on the round number level, then move our stop loss level to the break even and close the rest at the round number plus 15 pips. This way, we can lock in some profit and preserve it by moving the stop loss to break even.

*Note: Your SL and TP should be based on your own risk/reward tolerance, and never risk more than what you see asyour profit potential.

Sell Tades rules

1. The trend must be headed down.

2. Wait for the price to decline towards a round number. We want the price to break

2/3rds of the entire range between 2 round numbers. For

example, on the EUR/USD, if price is between the 1.2800 and 1.2900 levels,

we wait for the price to decline 2/3 of this rangeor below the 1.2833 level to look

for a possible short trade setup.

3. As soon as price breaks below the next round number minus 15 pips, we can open a sell order. In our example, as price breaks below the 1.2815 level, we can go short. We can also set a pending sell order instead of waiting for the price to reach that level.

4. Set the stop loss 15 pips from the entry point.

5. We also have 3 options for setting the take profit

Managed.

a) Conservative exit The next round number. In our example,our first target is the 1.2800 level.

b) Aggressive exit This is the level 15 pips below the round number. In our example, it will be at the 1.2785 level.

c) Managed exit Here, we close half of our position whenprice reaches the round number, then we move our stop lossto break even and close the rest 15 pips below the roundnumber.

*Note: Your SL and TP should be based on your own risk/reward tolerance, and never risk more than what you see as your profit potential.

In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.

For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.

How to install Forex Super Profit Levels Support Resistance Trading Strategy?

• Download Forex Super Profit Levels Support Resistance Trading Strategy.zip
• Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
• Copy tpl file (Template) to your Metatrader Directory / templates /
• Start or restart your Metatrader Client
• Select Chart and Timeframe where you want to test your forex strategy
• Load indicator on your chart

How to uninstall Forex Super Profit Levels Support Resistance Trading Strategy?

To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.

Download Free Forex Super Profit Levels Support Resistance Trading Strategy