12# Candlestick Patterns with Rainbow

Submit by Maximo Trader 08/03/2013

Time Frame 30 min or higher.

Currency pairs:any.

Candlestick Patterns with Rainbow Metatrader Indicators:

(EMA's) Exponential moving averages : 3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-31-32-33-34-35-36-37-38-39-40-41-42-43-44-45-46-47

-48-49-50-51-52-53-54-55-

21 (Rainbow)

Pivot levels (this setting is for intraday trading ).

Pattern recognition Master 7;

Long Entry

If Buy Candlestick Pattern is above of the (rainbow) green exponential moving averages open a buy order at open the next bar.

Short Entry

If Sell Candlestick Pattern is below of the (rainbow) red exponential moving averages open a sell order at open the next bar.

Exit position: (for intraday trading)

Stop loss

for buy 2 pips below the previous swing.

for sell 2 pips above the previous swing.

Profit Target at the Pivot levels or 15-20 pips.

In the pictures Candlestick Patterns with Rainbow forex system in action.

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

Bearish Engulfing Pattern

Bullish Engulfing Pattern

Candelstick Forex Strategies

Candelstick Pattern

Bearish Pattern

Bullish Pattern

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