5# Support and Resistance important or psycho level Trading System

Price Action Trading System

Submit by Forexstrategiesresources

 

This is a price action trading system.

Time frame: 15 or higher.

 

Pairs:all

Indicators:

Awesome,

Bollingher Bands (20, 2)

Support and Resistance indicator or draw (Support and resistance)

Long Entry

When price breaks to a PSYCHOLOGICAL level of resistance, Awesome Oscillator is GREEN enter long when the price to close ABOVE the UPPER band of the bollinger bands.

Short Entry

When price breaks to a PSYCHOLOGICAL level of Support, Awesome Oscillator is Red enter long when the 

 


price to close Below the Lower band of the bollinger bands.

 

Exit :

1 Trailing stop

2 Target Profit ( example H1 EUR/USD 20 pips GBP/USD 25 pips, AUD/USD 16 pips).

3 Stop Loss:5 pips above the support for Shor Entry, 5 pips below the resistance for Long entry.

 

 


In the picture Support and Resistance important or psycho level forex system in action.

Support and Resistance important or psycho level Trading System

Support and Resistance important or psycho level Trading System
Support and Resistance important or psycho level Trading System: based on the levels (piovot point levels, Support and resistance levels, .00 , .05 , .
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