685# Trend Cobra Forex Strategy
Trend Following with Price Action
Best Day Trading Strategy
Submit by Dimitri
Trend Cobra Forex Strategy”, that is a trend following strategy filtered by price action supply and demand zone. The aim of this system is to minimize the false signals typical of a trend following strategy through the combination of moving averages filtered by support and resistance areas. This trading system is done well and if you do it by following the rules it is actually a winning system. The heart of the strategy is the bundle of moving averages which, on the one hand, slow down the entry signal on the market, on the other, are an excellent filter of false signals.
Setup Strategy
Time frame 15 and 30 minutes (day trading) H1 and H4 (Swing trading).
Currency pairs: Majors, Minors and Indices. My favorite currency Pair is AUDNZD.
Metarader 4 Indicators:
Pivot Points levels
Round Numbers
Supply Demand
Fractals
Moving Average 50 periods, close.
Moving Average 34 periods, close.
Fan of Moving Averages.
Customized Woodie CCI with Max4.
Trading Rules Trend Cobra Forex Strategy
Buy
When the price bounces on the support wait that:
Price close above MA Fan;
MA 50 green line;
MA 34 green line;
Woodie CCI >0 and green square.
Re-entry.When the price penetrates MA Fan and then a green diamond appears.
Sell
When the price bounces on the resistance wait that:
Price close below MA Fan;
MA 50 red line;
MA 34 red line;
Woodie CCI <0 and green square.
Re-entry.When the price penetrates MA Fan and then a red diamond appears.
Exit position
Place initial stop loss below/above support/resistance zone or at the previous swing High/Low.
Profit Target at the pivot point levels, before the Supply and Demand zone or when the moving averages changes direction.
Note.Re-entry only when you are an expert on the system.
Visual Test
USDJPY 15 min
First Trade +18
Second trade +15
Third trade 0
Fourth +15
Fifth +15
Total +58
GBPUSD 30 min time frame
First Trade +35
Second trade +28
Third trade +25
Fourth +30
Fifth +14
Sixth +20
Seventh +20
Total 172 pips
Example of trades
More examples in the video below
Telegram Channel: https://t.me/freeforexresources
