13# Candlestick price action

Candlestick patterns trading system

Submit by Mash 31/03/2013

Setting for 1H Time Frame

Currency pairs any.

Indicators:

CPI Candlestick Pattern

Pivot Daily.

The Rules of this trading system based on the Candlestick patterns is very simple.

This is an pure price action trading system.

Sell

Wait the price is below a pivot level after when appears an bearish pattern,

you place an pending order 2 pips below the Bear Pattern. If the price do not breaks the order ,delete order after three bars.

Buy

Wait the price is above a pivot level after when appears an bullish pattern,

you place an pending order 2 pips above the Bullish Pattern. If the price do not breaks the order ,delete order after three bars.

Exit position

Stop loss for sell 5 pips above the pivot level;

Stop loss for buy 5 pips below the pivot level;

Profit Target at the next level pivot or 15 -20 pips.

In the pictures Candlestick Price Action forex system in action.

Share your opinion, can help everyone to understand the forex strategy.

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Forex Indicators: Candlestick price action

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