This is an entry setup system mainly based on 4h chart. The goal is trying to catch Waves but using a mix group of indicators.
Setup:
1. Trending: Long term MA lines are trending agree with band directions
2. Reject by Bollinger Bands
3. Reject by MA River
4. Support by Gann
See two examples and each arrow is the entry point.
Red line is Gann
Blue lines are sma. One of them is 20 sma
Green lines are bollinger bands 20.
Exit Plan:
1. First target is to reach the opposite side of the band.
2. Final target is price to re-cross the ma line
3. Cut loss if gann flip again
This setup can be applied to most forex pairs although the longer time frame chart is preferred.
hi Simon, this looks very nice. Do you think it makes sense to play the futures contract on an individual currency or is Pairs a better way to go ? Best of Luck …. Looks great !
Marko
Comment by MarkoFibo — 02/15/2010 @ 4:50 am