Forex trading strategy #4 (Simple 1-2-3 swings)
Submitted by Edward Revy on February 28, 2007 - 15:30.
And here we are again talking about the strategy that withstood the test of time. This Forex trading method is based on the same study of defining support and resistance levels and trading upon the fact of their violation.
A trading setup requires only an open chart and no restrictions for the currency or timing preferences.
Entry rules: Once the price makes it through the “pivot Line” - dotted white line on the figure below (drawn using the latest price peak) - and closes above (for uptrend) or below (for downtrend) the line buy/sell accordingly.
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Sorry... I haven't found anything profitable about it, except for 7 minutes of talking about how good it would be if we traded this and that. He doesn't explain how to achieve that :(
Edward thank you for a way out of the working class,great entry and exit points.only fools will discard this gem and go look for something else.its as easy as 1 2 3 lol Regards Pieter from south africa.
The 123 trading system is awesome,i placed 4 trades on the euro and 1 trade on the cable and i won 4 out of the 5 trades loosing the one on gbp/usd.This system is fantastic....but there is something i did in all my trades, (though im afraid its not right) and that is not waiting for the formation of the 2nd swing low ( point 3) before pulling the trigger at point 2, but despite that fact, i won 4 out of my 5trades...pls fellow traders, dont use my approach cos it may not work for u...Adedoyin Adebowale Raphael from NIGERIA
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