4xCOG and RSIOMA Trading System is a forex trading system. It is a very simple and very powerful forex trading system. The system is so easy to get in to your head that you can easily place trade your first trade with confidence while using this forex trading system. The basic concept of this forex trading system is based on the concept of range, support and resistance. The only indicator on the main chart window is#4×2010 COG which plots the support and resistance of the market and recommends you to buy in the support area and sell in the resistance area. You don’t simply put your trades when the price on the main chart touches the support line of the #4x 2010 COG indicator but you should also wait for the signal which is generated by the RSIOMA indicator which is located at the indicator window.
4xCOG and RSIOMA Trading System consist of only two indicators, one on the main chart and another in the indicator window.
When 4xCOG and RSIOMA Trading system is correctly installed on your trading platform, your chart should look like this:
- #4x 2010 COG
This indicator is nothing more than few horizontal lines. The horizontal lines that represent the resistance level is pink in color and those horizontal lines which represent the support levels are the blue lines. The simple concept is to buy near or at these support zone while to sell near or at these pink lines.
RSIOMA is a technical indicator which consists of two oscillators which are blue and purple in color. The crossovers of these two oscillators will play vital role to generate signal. On the bottom of RSIOMA indicator you can also see green and re bars. Green bars indicate the favorable buying conditions while the red bars indicate the favorable selling conditions.
Buying Conditions Using 4xCOG and RSIOMA Trading system.
- Price should be around the #4x 2010 COG indicator (blue support horizontal lines).
- Blue oscillator of RSIOMA should be above the purple oscillator.
- The bars at the bottom of the RSIOMA indicator should be green.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the price touches the #4×2010 COG indicator (pink resistance horizontal lines)
Selling Conditions Using 4xCOG and RSIOMA Trading System.
- Price should be around the #4x 2010 COG indicator (pinkresistance horizontal lines).
- Blue oscillator of RSIOMA should be below the purple oscillator.
- The bars at the bottom of the RSIOMA indicator should be red.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the price touches the #4×2010 COG indicator (blue resistance horizontal lines)
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