How to Make Profit in 30 Minutes of "Work" with the Trend Sniping Strategy
The first trading set-up we are going to show you is the Dynamic SR setup.
As the name suggests the basis for this system is dynamic
support\resistance level which price has struggle to break. When price
touches this level we will wait for signs that price is reversing- and will
enter the trade.
In this system we will use the Moving Average level. Preferably the 20-
period Moving Average, though you can use any other period.
Step 1: Waiting for the MA to become sloped
We wait for the MA to become sloped (trending). This is a sign that the
trend is strong.
A sloped moving average means that the trend is strong and therefore
any retracement to the MA will probably lead to a continuation in price,
and a good trading signal for us to trade.
Step 2: Wait for price to touch MA
Wait for price to touch the MA, and reverse.
Reversal is confirmed when price goes above the high of the previous
candle (for long trades) or below the low of the previous candle (for
Step 4: Placing Stop Loss
Stop Loss is placed:
• 5 pips below the lowest low of last 4 candles (for long trades)
• 5 pips above the highest high of last 4 candles (for short trades)
Exiting the Trade
Trade is closed when the moving average is no longer sloped = is flat.
Examples for trades
---- Steve Sollheiser --- edit by sbudij KarawangForex ------