533# SEFC Trading
Support and Resistance with SEFC
Submit by Tommy 30/01/2014
Support and Resistance and SEFC is a trading system trend following but also based on the level of the support and resistance.
Time Frame 15 min or higher
Currency pair: EUR/USD, USD/JPY, GBP/USD, AUD/USD,USD/CHF, GBP/JPY, EUR/JPY, NZ/AUD; Indicies: S&P 500, NASDAQ, DOW JONES, DAX, FTSE;
Metals: Gold and Silver.
Cycle Major indicator,
SEFC MT4 X,
SEFC MT4 A fast,
SEFC MT4 Slow,
SEFC Moving average (MA),
Moving average crossover signal candles,
PBF Fast 3MA,
Support and resistance kimi,
Support and resistance test-1 indicator.
Rules for Support and Resistance with SEFC Trading System
Trade only in direction of the white arrow of SEFC Slow.
The suppor dots below the SEFC buy arrow,
Cycle Major green bar;
Fischer Blue bar;
Signal candles blue,
Bbands stop below the candles,
SEFC MA blue line.
The resistance dots above the SEFC sell arrow,
Cycle Major red bar;
Signal candles red,
Bbands stop above the candles,
SEFC MA red line.
Protective Stop Loss Exit Options:
1) As with any trading an initial protective stop loss should ALWAYS
be entered no matter what. The price at which the stop loss can
be a set number of pips based on the pair being traded, the chart
interval, and/or the range. On the 15-30-60 and 240 minute an 80 Pip
stop loss and 80 pip profit target backtested well for us.
2) Placing a stop market order behind the SR Level line (under it for
a long trade, above it for a short trade) can be used instead of or
in addition to a protective stop loss of a set number of pips.
Profitable Exit Options (More than one of these can be used at the
same time, for any given trade. Again, it’s up to the user/trader to
A profit target equal to the number of pips of the set stop loss
can be used OR the SAME distance from the ENTRY price to the
Stop Loss level as determined by the SR Level indicator (option 2
above) can be used as a hard/set target.