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637# 4XPipSnager Strategy V.2

W and M Pattern with Support and Resistance.

Price action trend strategy

Submit by Dimitry (from idea of Jason Sweezey and Stepan Anatoljevich)

 

 

4XPipSnager Strategy V.2 is a trading strategy for scalping and intraday that combines two complementary trading ideas in my opinion. The first trading idea is taken from an old but valid Forex u-turn text by Jason Sweezey in which the author identifies two patterns of investing that form with moving averages: the M pattern (bearish inversion and the W bullish inversion pattern ). Typically these patterns are formed after the price bounces off support and resistance levels. The second idea on which this trading system is based on the indicator created by Stepan Anatoljevich to identify support and resistance levels while keeping the chart very clean. I simply took these two jobs and put them together, and a very good profitable trading system for time frame trading at 5 and 15 min was born.

Time Frame 5 min – 15 min

Currency pairs majors and minors with lower spread indices and oil.

 

Metatrader 4 Indicators:

Whole Numbers (random lines of support and resistance from idea of Jason Sweezey  but the system required a more solid approach.)

Forex U-turn detectors.

-U-turn 1.1 (by Stepan Anatoljevich indicator that identifies important levels of support and resistance with precision and clarity on the chart.)

Forex U-turn filter optional because, the main method of this system (price action) is price analysis on support and resistance levels.

 

Trading rules 4XPipSnager Strategy V.2

Buy

The price bounces on support levels and forms a W with moving averages.

Stop loss on the previous swing low. Profit Target 2 pips before the next level of resistance.

 

Sell

The price bounces on resistance levels and forms a M with moving averages.

 Stop loss on the previous swing high . Profit Target 2 pips before the next level of support.

In the pictures 4XPipSnager Strategy V.2 in action.

4XPipSnager  Strategy V.2
4XPipSnager Strategy V.2
4XPipSnager  Strategy V.2
4XPipSnager Strategy V.2
4XPipSnager  Strategy V.2
4XPipSnager Strategy V.2
4XPipSnager  Strategy V.2
4XPipSnager Strategy V.2
4XPipSnager  Strategy V.2
4XPipSnager Strategy V.2
4XPipSnager  Strategy V.2
4XPipSnager Strategy V.2
4Xpisnager V.2
4Xpisnager V.2
Comments: 1
  • #1

    DRSA1970 (Sunday, 12 May 2019 01:33)

    looks interesting .... Could be profitable

4XPipSnager Strategy V.2
4XPipSnager Strategy V.2
4XPipsSnager Strategy.rar
compressed file archive 131.4 KB
https://www.forexstrategiesresources.com/.../73-u-turn-support-and-resistance -strategy/
U-turn is an indicator that automatically detects support and resistance levels. At the same time it shows them on historical data !!! This allows you to analyze the ...
https://www.forexstrategiesresources.com/scalping.../293-support-and- resistance-scalping/
The Rules for for Support and Resistance scalping are easy. Buy: Wait the price breaks lower bands and touches the support line, after entry buy at open next .
https://www.forexstrategiesresources.com/scalping.../12-support-and- resistance-dynamics/
“The Supports and Resistances Dynamics ” method scalps pips when price breaks through major support and resistance. There is always an opportunity to grab ...
https://www.forexstrategiesresources.com/.../682-zig-zag-ma-with-support- and-resistance/
Apr 13, 2016 ... Zig zag with support and resistance is a simple idea for trading with price action based on support and resistanza level with dynamic zig zag.
https://www.forexstrategiesresources.com/support-and-resistance.../23- fibonacci-support-and-resistance/
BLUE Line / ARROW are RESISTANCE and RED ARROW are Break Resistance ... In the pictures Fibonacci Support and Resistance forex system in action.

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