669# JMO with bands trading
JMO Trading
Submit by Lorenz 05/01/2016
JMO with bands trading is a trend- momentum system based on JMO indicator.
Time frame 15 min or higher.
Currency pair: any.
DD_ELIMINATOR
Buy Signal
When there is a short candle that closes outside the dotted center line of the
DD_ELIMINATOR channel at the bottom of the DD_ELIMINATOR channel.
It must be followed by a long candle that closes inside the dotted center line of the
DD_ELIMINATOR channel at the bottom of the DD_ELIMINATOR channel.
If the above occurs a green vertical line will appear on the chart. Like so:
Sell Signal
When there is a long candle that closes outside the dotted center line of the
DD_Eliminator channel at the top of the DD_Eliminator channel.
It must be followed by a short candle that closes inside the dotted center line of the
DD_Eliminator channel at the top of the DD_Eliminator channel.
If the above occurs a red vertical line will appear on the chart. Like so:
JMO
Buy Signal
Oversold Scenario : When the JMO indicator has passed through the lowest
horizontal line (the alert line) towards zero then passes back through the second
lowest horizontal line (the trigger line) Like so:
JMO Sell Signal
Overbought Scenario : When the JMO indicator has passed through the highest
horizontal line towards 100, then passes back through the second highest horizontal
line. Like so:
Trading against the trend
When trading a retracement against the trend, look to take only a small profit, e.g. a
few pips or decide to breakeven if the price becomes sluggish.
Trading with the trend
When trading with the trend, look to take larger profits and be prepared to ride out
smaller retracements. There is no hard or fast rule as to how many pips to take; it
depends on the considerations listed below.
Set your Stop Loss at the nearest swing high/low.
Share your opinion, can help everyone to understand the forex strategy
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