Forex Two Points Resistance Trading Strategy
Forex Two Points Resistance Trading Strategy:
2 Two points Trading System is a pure price action trend forex strategy.
Time Frame H1, H4, Daily.
Markets: Forex (any currency pairs).
2 point indicator;
200 Ema high;
200 Ema Low.
Up Trend price above 200 EMA channel;
Down Trendf price below 200EMA Channel.
IN A DOWNTREND
Point 1 is always the last UP peak on the chart as seen below. I call this the retrace value because it is created due to a retrace or consolidation after a move in either direction.
Point 2 is the second low created from Point 1 . This is where the pending trades should always be placed.
Point 1 is where you decide what to do next. This point is called the retrace value of the current trend. This is where the market gives back some of the gain before continue with the current trend. Knowing how to treat point 1 is very important in trading the 2 points system.
In UP Trend Reversal conditions.
STOP LOSS PLACEMENT.
Stop loss is very important in trading this strategy. Stop loss should be placed 50 pips away from the entry or below the preview peak. I use stop loss is by switching to a lower time frame and find a peak from there.
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 Two Points Resistance Trading Strategy?
- Download Forex Two Points 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 Two Points 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”.