Forex Tips and Strategy

FOREX ; 50 - 100 Pips minimum in Four Hours.

What sets this system apart from the rest?

The purpose of this system is the need for simplicity in a mess of complicated indicators and rules. This system does not grab all the pips to be had, just the ones with the highest probability. This makes it easier for the common trader and involves less risk. It is very visual and basic so profits can be created without former experience.

We will trade this system from 6 a.m. to 10 a.m. Central Time. The best pairs are EUR/USD, EUR/JPY, and GBP/USD.

Chart Setup:
1. 15 Minute Timeframe.
2. Slow Stochastics - numbers at 5,3 or 8,3.
3. CCI – the automated setting.
4. Candlesticks – They aren’t needed for this particular system. They are simply easier to view.

Added lines for visual clarity:

Stochs - One horizontal line placed at 20 and one at 80.
CCI – One horizontal line placed at 50, another at -50.

Formula:

Watch for the CCI line to break either of the 50 point lines. Once the line thickens and approaches the 100 line, you take it. 100 for a buy, -100 for a sell. Stochastics should be between the two lines at 20 and 80.

Exits:
The 5 minute timeframe. When you see the CCI break out of the tent formed and move inward of the 100 or -100 line, set stop loss at break even. As the trade continues, keep inching stop loss closer as there are repeated breaks inward on the 5. You should be completely out once the the CCI comes back inside the 100 or -100 line on the 15 minute timeframe.

---- by; Freedom Trader -------