Ozymandias Intraday Trading is a forex trading system designed to trade on intraday time frames like 5 minutes, 15 minutes, etc. The Ozymandias Intraday Trading is really simple. This forex trading system consists of really few technical indicators which makes the job of trading easier for the beginner traders. The system is mainly based on pivot levels and the confirmation is given by the BullsEye indicator which is located at the bottom of the chart. The system is designed for short term trading so the traders should look only for short term opportunities while trading with Ozymandias Intraday Trading system. The basic concept of using pivot levels is that the market is assumed to be in an up trend when the market is above the Pivot level and vice versa.
So, we will be buying only when the market is above the pivot level and selling only when the market is below the pivot level. When Ozymandias Intraday Trading is correctly installed on your metatrader 4, your chart should look like this:
- Pivot Levels
There are various pivot levels in the main chart. However, the daily pivot level still remains same for a day. Other levels can be taken as potential support and resistance levels. When the market is above the pivot level you can look to buy when the potential resistance level is broken. Similarly, in a down trend market, when the potential support is broken, you can look to short.
BullsEye indicator is a custom made technical indicator which consists of red and green bars. Green bars indicate the bullish pressure in the market and the red bars indicate the bearish pressure in the market.
Ozymandias Intraday Tradingalso shows the different market sessions which is an important factor for the intraday traders. On the top left, there are also information like spread, range, and the opening time of the candles.
Buying Conditions Using Ozymandias Intraday Trading System.
- Price should be above the daily pivot level.
- BullsEye indicator should have green bars.
- 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 BullsEye indicator turns red.
Selling Conditions Using Ozymandias Intraday Trading System.
- Price should be below the daily pivot level.
- BullsEye indicator should form red bars.
- 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 BullsEye indicator turns green.
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