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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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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