Support/Resistance Short Strategy
Chart TF: 4H
Indicators: 14 EMA, 40 EMA, Vortex Indicator 30, RSI 22, TRIX 10
I have been tweaking this simple, yet profitable, system for a few weeks and wanted to share it with the public to receive feedback/opinions.
Short Entry Conditions:
1) 40 EMA > 14 EMA.
2) A bearish candle must break below a support level.
3) The price must be under both EMAs.
4) VI(-) > VI(+) by at least .15
5) RSI < 50
6) TRIX < 0
If all conditions are met, enter short.
Stop Loss:
1) Set SL to the closest resistance.
Take Profit:
1) Set TP 1:1 R/R with the stop loss.
In this recent 28 day stretch, 02/19/20 - 03/18/20, this strategy gave 5 successful short entries and over 300 pips on NZDCHF.
Indicators: 14 EMA, 40 EMA, Vortex Indicator 30, RSI 22, TRIX 10
I have been tweaking this simple, yet profitable, system for a few weeks and wanted to share it with the public to receive feedback/opinions.
Short Entry Conditions:
1) 40 EMA > 14 EMA.
2) A bearish candle must break below a support level.
3) The price must be under both EMAs.
4) VI(-) > VI(+) by at least .15
5) RSI < 50
6) TRIX < 0
If all conditions are met, enter short.
Stop Loss:
1) Set SL to the closest resistance.
Take Profit:
1) Set TP 1:1 R/R with the stop loss.
In this recent 28 day stretch, 02/19/20 - 03/18/20, this strategy gave 5 successful short entries and over 300 pips on NZDCHF.
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