79# Forex Professional Engineering
Support and Resistance Killer strategy
True rebound strategy of price action
Submit by Janus Trader
Forex Professional Engineering is a price action strategy based on the rebound of the price on the Support and Resistance levels filterd by an advanced MACD oscillator and FTLM oscillator. The purpose of this strategy is to wait for the price to bounce on a support or resistance level but a long / short position opens in accordance with the direction of the advanced MACD and FTLM oscillator.
The purpose of this strategy is to wait for the price to bounce on a support or resistance level but a long / short position opens in accordance with the direction of the advanced MACD and FTLM oscillator. Since this strategy uses a filter, entry can also be a bit distant from support and resistance levels, but this higher risk, which assumes a greater stop loss, is rewarded by higher profitability.
Time frame 15 min or higher best time frame H1, H4, Daily, Weekly for funds management.
Currency pairs Major or minors.
Metatrader 4 indicators setting:
Support and resistances levels.
Forex Professional Engineering (120,12,26,18, 2).
FTML STLM (defaul setting).
Trading rules Forex Professional Engineering
Buy
Wait for the price to approach a support area, verify that the price bounces. Then Forex Professional Engineering green circle above than silver circle and FTML STLM with green bar.
Exit position at the next resistance or with predetermined profit target with profit ratio minimum 0.9:1 stop loss. Initial stop loss below the support level.
Sell
Wait for the price to approach a resistance area, verify that the price bounces. Then Forex Professional Engineering silver circle belove than green circle and FTML STLM with red bar.
Exit position at the next support or with predetermined profit target with profit ratio minimum 0.9:1 stop loss. Initial stop loss above the resistance level.
This is a winning strategy with a good profittability.
Aggressive mode when FTML STML changes color in the direction of the market (red down, green up). This mode can be used when learning this strategy well.
In the pictures Forex Professional Engineering in action.
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