FX Daily Trend is a forex trading indicator that you have been looking for. It’s because it makes your trading life easier by making things simple. It is very popular forex trading system. It is popular because of its simplicity and consistency in performance. This indicator consists of several indicators which assist you in making a sound trading decision. FX Daily Trend helps you to minimize risk and maximize the reward. It’s all about money management when it comes to profitable forex trading. Regardless of how good a trading system is it will fail if good money management is not applied.
When you install Fx Daily Trend in your trading software, your chart should look like this:
- Fx Daily Trend
Bollinger bands work as a support and resistance levels. Lower band works as a support while the upper bad works as a resistance. Middle band work as a median line. When the market is above the mid band it indicates bullish conditions and vice versa.
You can see green and red arrows in this indicator. Green indicator indicates buying signal while the red arrows indicate selling signal. While you this indicator trading signal will not generate often but when it does it is highly reliable. So, you have to wait for the right momentum happen and to pull the trigger.
Additionally, you can also view the trend of the other pairs whether they are up trending, sideways or down.
Buying Conditions Using Fx Daily Trend.
- Market should be up trending.
- Market should bounce from the lower band or the mid band.
- A green arrow should appear on the chart.
- Place your long position when all of the above conditions are met.
- Place your stop loss below the recent swing low.
- Take your profit when a red arrow appears above the market.
Selling Conditions Using Fx Daily Trend.
- Market should be down trending.
- Market should fall from the upper band or the mid band.
- A red arrow should appear on the chart.
- Place your short position when all of the above conditions are met.
- Place your stop loss above the recent swing high.
- Take your profit when a green arrow appears on the chart.
Download Free Forex Daily Trend Strategy
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