1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Creating a support

Discussion in 'Forex Discussions' started by Danielc81, Apr 8, 2011.

  1. Danielc81

    Danielc81 New Member

    Joined:
    Feb 18, 2011
    Messages:
    5
    Likes Received:
    0
    Occupation:
    currency trader
    Location:
    Gilbert, Arizona
    Creating a support/resistance tunnel on the price congestion and trading on the break of this tunnel is a milestone of Forex trading discoveries.This trading system/approach needs no indicators and can be applied to any currency and traded in any time frame where coiling in a tight range is spotted.Entry rules: Find consolidation on the chart and draw two horizontal trend lines – support and resistance. Once the price breaks trough one of the trend lines and a current price bar closes outside the tunnel – buy/sell in the direction of the breakout. (If price pierces the trend line, but did not close outside the tunnel, cancel the previous trend line and draw another one according to the new conditions).
    Forex signals
     
Loading...

Share This Page