Third Candle Trading System ~ forex trading hours europe
Third Candle trading system is very simple and profitable and you can apply this strategy also with Binary Options.
Time Frame 240 min or higher.
Markets: Forex, Index and commodities.
Indicator:
Exponential moving average 5 period, close. (optional)
Expiry time for binary options high/low 1 candle.
Pattern : two candle with close >open (buy), open<close (sell).
Buy
Find a candle formation above the moving average with open < close.
Place a buy order at opening of the third candle.
For a new setup of buy order wait a candle with open=close or open<close.
Place stop loss below the 2° candle.
Sell
Find a candle formation above the moving average with open > close.
Place a sell order at opening of the third candle.
For a new setup of buy order wait a candle with open=close or open>close.
Place stop loss above the second candle.
Profit target daily time frame 40- 60 pips dependes by currency pairs or markets.
Advantages: Little emotion and a profitability of between 55% and 65%.
Disadvantages the stop loss is almost always greater than the profit. But you can management the position, moved the stop loss at the breakeven after 30 pips in gains.
This trading system was created and posted by Joy22.
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