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
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