210# Forex MTN with Support and Resistance

Submit by Marco 07/2017

Forex MTN with Support and Resistance is a simple trading system for trading with binary options or for trading withot binary. This method of trading is based on bounce on support and resistance lines. The tools that help us at this purpose are the SR indicator and Forex MTN.

Time Frame 15 min or higher.

Expiry time 1 candle or half candle.

Currency pairs: any.

Metatrader Indicators:

Support and resistance with alert.

Forex MTN with level 12 and -12. is a price action indicator that in this strategy we have fitered with SR lines.

Trading rules Forex MTN with Support and Resistance

Buy

In the same time the price bounce on the support line and appear Forex MTN blue dot with line below the -12 level.

Sell

In the same time the price bounce on the resistance line and appear Forex MTN red dot with line above the 12 level.

This system has few signals so you have to open multiple graphics at different time frames but it is quite profitable.

Trading without binary options exit strategy.

Place initial stop loss 4-5 above below SR lines , make profit with predetermined profit target that depends by pairs, for example EUR/USD 15 min time frame PT= 9 pips, 30 min 12 pips, GBP/USD 15 min TF PT= 12 pips, 30 min TF PT 15 pips, 60 min 20 pips. USD/CAD 15 min TF PT= 12 pips, 30 min TF PT 15 pips, 60 min 20 pips. USD/JPY 15 min TF PT= 12 pips, 30 min TF PT 15 pips, 60 min 20 pips.

In the folder there are also other indicator MT4 of support and resistance that yoc can try with this trading system.

In the pictures Forex MTN with Support and Resistance in action.

Share your opinion, can help everyone to understand the forex strategy.