Forex Support and Resistance Strategy is such an amazing trading tool that spots possible swinging levels, market trends and potential trade opportunities all at a time. It is best to use at M15 and H1 charts and suitable for any currency pairs. All together, many traders consider this strategy as a complete solution for scalpers and day traders.
Forex Support and Resistance Strategy not only defines market entries but also determines stop loss level and possible take profit areas with its 4H Fractals and Target level indicators. This strategy allows traders to make their trading decisions so easy that even newbie traders can be benefited from it with a steady pace if applied and used correctly. Once you activate this strategy, your only job is to wait for correct signals and pull the trigger accordingly.
Synopsis:
After the installation of Forex Support and Resistance Strategy in your mt4 trading platform, you’ll find your chart as follows:
Forex Support and Resistance Strategy Overview:
- 4H Fractals: This tool indicates the market swing levels. 4H Fractals blue indicates bullish swinging and red color signals bearish swinging levels.
- Target Levels: Target levels are updated automatically in your chart and its job is to make you aware and spot possible profit taking areas. You can treat these levels as pivot points or support/resistances.
- WRP Slow: This indicator confirms the current trend of the market. Blue bars indicate bullish force and red bars signal bearish thrust of the momentum.
Generally Accepted Use:
Buy Conditions:
- 4H Fractal is blue
- Price swings upwards and stays above the support level
- WRP Slow turns blue
- Set stop loss below the respective 4H Fractals levels
- Take profit when 4H Fractals is red and price is rejected from the Target Levels
Sell Conditions:
- 4H Fractal is red
- Price swings downwards and stays below the resistance level
- WRP Slow turns red
- Set stop loss above the respective 4H Fractals levels
- Take profit when 4H Fractals is blue and price is rejected from the Target Levels
Download Free Forex Super SR Signals Strategy
Our community traders work with XM.com brokerage company. If you are thinking to open demo or real forex trading account we recommend XM. They currently offer up to 5000$ bonus on your deposit find details below:
Open Forex Account
