297# Bat Strategy Trading System
Submit by Maximo Trader 09/02/2012
Time Frame:15 min or higher, best time frame H1.
Currency pairs: all;
Bat Atr: period 5, factor 4.
Setting Fibonacci Retracement
- Level 0 = swing level (stop loss)
- Level 0382 = entry 4 (last entry)
- entry level 0.5 = 3
- Level 0618 = entry 2
- 1.00 = entry Level 1 (or Target for entry 4 and 3)
- Level 1618 = Target 1 (or Common Target for entry 2 and 1).
- Level 2618 = Target 2 (target Extreem, Strong movement).
Of course, the decision of many entry points depending on your own ... QQQQ ... entry does not have to follow the scenario above. You can use one or two entry-level course according to convenience. BAT ATR Indicator v.1 will display the blue and red lines as the support and resistant, which will dynamically follow the movement of prices. When the price of trying to test support or resistant it is time to apply "BAT Strategy".
1. Price before in Uptrend conditions, then try to test the support price (blue line). 2.Price has the opportunity to: a. Support immediate breakout. b. bounce back away from support.
In the picture above is a scenario to capture the opportunities down trend, so
the draw Fibonacci retracement, starting from high point to the support line (blue line).
Ok, you already can see the Fibonacci levels now. You can edit it to enter the properties menu to adjust the levels according to the settings above. 4. If the price momentum to penetrate the very strong support, you can immediately take a position "SELL" at 1:00 Fibo level (blue line support). However, it is wise to wait for prices to retrace first, because it has a risk and reward is better.
5. You can wait for prices to retrace up to the 0618 level, 0.5 level and the last level of 0:38. or you can also put "SELL LIMIT 'at these levels.
6. Stop Loss is a level 0 (swing high), where if the price to move past the bearish scenario has failed.
7. Take a normal profit is at 1618 level, but if the price has a strong momentum the profit level of 2168 is the next target.
In the picture Bat Strategy forex system in action.
Ok, the example above is a bearish scenario .... for the bullish scenario, you just flipped fibonacci how to draw a line from the swing low to resistant.
The above conditions are trending movement .... what if the price ranging?
you can exit or place the target level of profit in just 1:00, for all of your entry, both entry-level 0:38, 0.5 and 0618. you still have the risk and reward is very good ...
Do not forget to stop loss .... because it is the last limit of this scenario declared a success or failure.
May be useful for you all ..... have a nice trade ...
There is always the easy way ..... so keep it simple ....
Share your opinion, can help everyone to understand the forex strategy.