Simple versatile forex strategy with heiken ashi candlestick




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Simple versatile forex strategy with heiken ashi candlestickSimple Versatile Forex Strategy With Heiken Ashi Candlestick

Take advantage of the smoothed Heiken Ashi candlestick with this simple versatile trading strategy. It can be used for all trading styles including scalping and day trading.

Indicators: Heiken_Ashi_Smoothed, 144 Period Simple Moving Average

Preferred time frame(s): Any

Trading sessions: Any ( Euro and US Session for scalping)

Preferred Currency pairs: Any

EUR/USD 5 Min Chart

The 5 minute chart shows you a buy and sell trade. Red Heiken Ashi candlestick below the 144 SMA gives sell signal. On the contrary, green Heiken Ashi candlestick above the 144 SMA gives buy signal. Click the chart to enlarge.

Trading Rules

Criteria #1: Heiken Ashi candlestick has to close above the 144 period SMA

Criteria #2: Heiken Ashi candlestick must be green

This is your buy entry.

Stop-loss method:

1) Place stop below the previous swing low.

2) Close the trade when opposite signal (sell) is triggered.

Price Objectives (partial profit taking):

Book 50% profits at 1:1 risk-to-reward. Book 50% profits at 1:3 (use trailing stop).

Criteria #1: Heiken Ashi candlestick has to close below the 144 period SMA

Criteria #2: Heiken Ashi candlestick must be red

This is your sell entry.