50 Pips A Day Forex Trading Strategy Using 1hr Timeframe

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FREE TRADING STRATEGIES

How to make pips per day pips per day might be sound intimidating but in reality, many traders are making more than pips in a single day. They simply use the Bollinger band indicator and 3 levels ZZ semafor indicator to make this impossible thing possible in each and every single day.

The upper band acts as the dynamic resistance level and lower band acts as the dynamic support for the price. Professional traders enter the market by simply following the trade signal generated by the 3 level ZZ semafor indicators. The 3 level ZZ semafor indicators is a unique indicator which displays only 3 values in the chart. The number 1 in the bubble indicates trend continuation and the number 2 in the bubble signals the trader about imminent trend reversal in any financial instrument.

Professional traders open their trade once the number 3 occurs in the indicators which confirm the reversal. In the above figure, the dynamic support and resistance level of the price is identified by the Bollinger band. Professional traders wait patiently for the trend reversal indication in the pair near the dynamic support and resistance level of the band. The first sell entry was triggered by the trader since the price was trading near the dynamic resistance level and the 3 level ZZ semafor indicator confirmed the reversal with the number 3 in the yellow bubble.

The best result is found in the 1-hour time frame in the major pair and for the exotic pair, professional traders use the M30 time frame.

Professional traders use fixed stop loss and take profit while trading this strategy. They enter the market with a tight 30 pip stop loss for a potential reward of 65 pips. Once this strategy is mastered, you can trade both dynamic support and resistance level comfortably without worrying about the prevailing trend.

So google greenwhich mean time and see when your local time changes into winter time again. The difference generally is one hour. Mail will not be published required. Wait for the 1 hr 7am GMT candlestick to close. Then a buy stop order 2 pips above the high of the candlestick and similarly also place a sell stop order 2 pips below the low of the candlestick. When price activates a pending order on one side, you have to cancel the other that has not been activated.

Set your take profit target at 50 pips. If your profit target of 50 pips is hit during that day, then the repeat the same process every day at 7am GMT. Which means if trades were executed following the rules above, there would have been a total 6 trades excluding the day that is now currently running.

Check chart below for clarity. This is really good because it stops you from over trading. So in general, your stop loss would be anywhere from pips. And would you be profitable at the end of the month if you followed this system??? Please click those buttons below to share and tweet! Posted in Forex Trading Strategies. April 10, at 8: April 10, at 4: April 10, at 6: April 10, at April 11, at April 12, at 7: