Let me introduce you to this absolutely amazing and easy Forex Strategy. You just need to use the “draw line tool” in your trading platform to make the trading box and add just one moving average on your chart to validate the trade.
The Sure Forex System is based on the idea that a GBPUSD will fluctuate Within a particular range and the range will vary according to routine pressures.
By using the Sure Forex System you will assess this range and take Advantage when the currency pair breaks out of the base line range.
First set up your chart. This the same process every day and only takes a few minutes
- Open a 15 min Chart for a GBP/USD
- Draw a vertical line at 04:00 gmt time on your GBP/USD Chart.
- Draw a vertical line at 06:00 gmt time on your GBP/USD Chart. Please note the charts shown here are on FXDD which is GMT+2. So the lines appear on the chart at 06:00 and 08:00
- Draw a Horizontal line at the high of candles/bars in between the vertical line.
- Draw a Horizontal line at the Low of candles/bars in between the vertical line.
- Add a 89 ema (exponential moving average) to the chart.
Notice the red lines form a box. The 89 ema is blue.
At 06:15 GMT Look at your chart. There are three possible outcomes
If the 89 ema crosses the box DO NOT TRADE. Simply wait for the next day. See example Below
If the 89 ema (the blue line) is ABOVE the box place a pending sell order (sellstop) 5 pips BELOW the bottom line of the box. Set your stop loss at 20 pips and your take profit at 75 pips. Set a 45 pip Trailing Stop. When you are 20 pips in profit move your stop to break even. See example below
- In this example the LOWER red line of the box is at 1.6081.
- We placed our pending sell order 5 pips BELOW it at 1.6076.
- Our stop loss was placed 20 pips above our pending sell order at 1.6096.
- Our take profit was placed 75 pips below our pending sell order at 1.6001.
- When the trade moved 20 pips in our favor we moved the stop loss to our entry at 1.6076.
If the 89 ema (the blue line) is BELOW the box place a pending buy order (buystop) 5 pips ABOVE the top of the box. Set your stop loss at 20 pips and your take profit at 75 pips. Set a 45 pip Trailing Stop When you are 20 pips in profit move you stop to break even. See example below
- In this example the UPPER red line is at 1.6086.
- We placed our pending buy order 5 pips ABOVE it at 1.6091.
- Our stop loss was placed 20 pips below our pending buy order at 1.6071.
- Our take profit was placed 75 pips above our pending buy order at 1.6166.
- When the trade moved 20 pips in our favor we moved the stop loss to our entry at 1.6091.
Once the order is placed let it run until 06:00 GMT the next day.