Autotrend Channel Forex Support and Resistance
This Trading System is trend following. and is determined by autotrend channel. Use this system on a 30 minute tomeframe or higher.
This is applicable to any currency pairs.
Forex Indicators:
- Spud Stochastic: ( composed by 19 Stochastic indicators);
- Autrend Channel (setting 30 min , 60 min: 24 hours- 240 min 60 hours- daily 336 hours) (This setting is the heart of the trading system: the secret);
- Fib Pivot 3 (only for intraday trading wit time frame 30 min and 60 min).
- Swing Arrow.
Buy Entry:
- AutoTrend Channel in up trend.
- lines Spud Stochastics is greater than 50 or 76.
- Open long position at the open next bar after a buy swing arrow.
Sell Entry:
- AutoTrend Channel in down trend.
- lines blue Stochastics indicators is less than 50 or 23.
- Open short position at the open next bar after a sell swing arrow.
Exit position:
- At the oppoosite arrow.
- Intraday Trading Fibo pivot is the good Profit Target.
- 25-30 pips profit target
- Swing Trading Profit Target Predetermined by time frame and currency pairs.
- Ratio 1.3 Stop loss.
- Initial Stop loss on the previous swing:
- for intraday trading after 18 pips in gain move stop loss at the entry price;
- for swing trading after ratio 1:1 move stop loss at the entry price.
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