39# The Magic Channel Trading System
Submit by JanusTrader
Currency Pair: Major
Time Frame: 5min, 15 min, 30min, H1
Indicator:
35 ema of the High;
35 ema of the Close;
35 ema of the Low;
200 ema;
Pivots;
Stochastic ( 5,3,3 );
MACD ( 6, 13, 5 ).
Long Entry
When the price retraces into the magic Channel from above the magic channel and Stoch should be in oversold area around 20/40 and macd signal line should be above the water line (00) then wait for a Bullish momentum candle that closes above the magic Channel.
Short Entry
When price retraces into the magic channel from below the magic channel and Stoch should be in overbought area around 60/80 and macd signal line should be below the water line (00) then wait for a Bearish momentum candle that closes below the wave.
Exit Position:
for buy Place Stop loss 3 pips below 34ema(Low);
for sell place stop loss 3 pips above 34ema (High).
Place Target exit on pivot point.
Profit Target:1/2 ratio if stop loss is 15pips, profit target is 30 pips.
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