4X pips snager is a trading strategy that is developed to trade in the forex market. It is an amazing system that really works great in a trending market. It is developed to trade in the trending market. So the 4X pip snager system works best in the trending market rather than in flat or sideways market. This system can be traded on two time frames; on 5 minutes time frame and 30 minutes time frame. If you want to trade on the five minutes time frame you should use the template that is designed for the 5 minutes and use 30 minutes template for the 30 minutes chart. Both the templates are present on the system’s package. Note the fact that you won’t see the 4X pips snager system working if you use another time frame than 5 minutes and 30 minutes time frame. So be sure about the template you use and the time frame you choose.
When talking about the 4X Pips Snager it is really a simple system that consists of only three technical indicators. When the 4X pips Snager is correctly installed on your trading platform your chart should look like this:
- Exponential Moving Average: In 4X pips Snager system there are two exponential moving averages used. They are:
- EMA 10: EMA 10 is a dotted green moving average that you can see on the main chart. Although the EMA 10 is used in 4X pips snager, we will not be using this indicator for making our trading decisions.
- EMA 21: Exponential Moving average, period 21, is the main indicator that is used in 4X pips snager system. The signals are generated by 4X pips snager system by using this EMA 21. It is blue in color.
- 4X Pip Snager Filter: The main use of this indicator is to filter the trade that is generated by the EMA 21. It comes in blue and red color. You should be buying when the blue signals are above the red signal and vice versa.
Buying Conditions Using 4X pip Snager.
- Price should be above the 21 EMA.
- Blue signal should be above the red signal in 4X pips snager filter indicator.
- Place your stop just below the recent swing low.
- You should take profits when the price comes down to touch the EMA 21.
Selling Conditions Using 4X pip Snager system.
- Price should be below the 21 EMA.
- Redsignal should be above the blue signal in 4X pips snager filter indicator.
- Place your stop just above the recent swing high.
- You should take profits when the price rises higher to touch the EMA 21.
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