Forex channel strategy with moving average




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Forex channel strategy with moving averageForex Channel Strategy With Moving Average

Forex trading with channel and moving average. A simple strategy designed to trade in the direction of the main trend.

Indicators: Channel-trading-signals (default settings)

Preferred time frame(s): 5 min chart and above

Preferred Currency pairs: Any

AUD/CAD 15 Min Chart

The chart shown above, shows an example of a buy trade on the Australian Dollar/Canadian Dollar. AUD/CAD exchange rate above the channel + MA (moving average) line above the channel = buy trade. Click the chart to enlarge.

Trading Rules

Criteria #1: Price has to trade above the channel (established bull trend)

Criteria #2: Green colored moving average line has to trade above the channel

This is your buy signal. Place protective stop-loss below the most recent support level or below the lower channel band.

Targets: Book 50% profits at 1:2 risk-to-reward. Close other 50% at 1:3 (trail stop-loss 1 pip below the rising channel).

Criteria #1: Price has to trade below the channel (established bear trend)

Criteria #2: Green colored moving average line has to trade below the channel

This is your sell signal. Place protective stop-loss above the most recent resistance level or above the upper channel band.

Targets: Book 50% profits at 1:2 risk-to-reward. Close other 50% at 1:3 (trail stop-loss 1 pip below the rising channel).

GD Star Rating

Forex Channel Strategy With Moving Average. 9.8 out of 10 based on 5 ratings