39# The Magic Channel Trading System
Submit by JanusTrader
Currency Pair: Major
Time Frame: 5min, 15 min, 30min, H1
35 ema of the High;
35 ema of the Close;
35 ema of the Low;
Stochastic ( 5,3,3 );
MACD ( 6, 13, 5 ).
When the price retraces into the magic Channel from above the magic channel and Stoch should be in oversold area around 20/40 and macd signal line should be above the water line (00) then wait for a Bullish momentum candle that closes above the magic Channel.
When price retraces into the magic channel from below the magic channel and Stoch should be in overbought area around 60/80 and macd signal line should be below the water line (00) then wait for a Bearish momentum candle that closes below the wave.
for buy Place Stop loss 3 pips below 34ema(Low);
for sell place stop loss 3 pips above 34ema (High).
Place Target exit on pivot point.
Profit Target:1/2 ratio if stop loss is 15pips, profit target is 30 pips.
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