Last Updated on May 8, 2025 by Tim Morris

Psycho Level Forex Support and Resistance Strategy

This is a price action trading system that works on 15 minute timeframe or higher. This is applicable to all currency pairs.

Forex Indicators:

• Awesome,
• Bollinger Bands (20, 2)
• Support and Resistance indicator or draw (Support and resistance)

Long Entry:

• Price must break 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:

• Price must break 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 Position

• Trailing stop
• Target Profit ( example H1 EUR/USD 20 pips GBP/USD 25 pips, AUD/USD 16 pips).
• Stop Loss: 5 pips above the support for Short Entry, 5 pips below the resistance for Long entry.

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