Candle in channel ~ questrade forex trading hours
Candle in channe,l this system is incredibly easy, but trades don’t occur too often.
Using this system on the 4-hour and Daily charts is advised.
The system uses:
6ema (of price highs)
6ema (of price lows)
50ema (of price closes)
We BUY when price is ABOVE the 50ema, a candle forms INSIDE the
6ema-channel, and price breaks the HIGH of this small candle:
We SELL when price is BELOW the 50ema, a candle forms INSIDE the
6ema-channel, and price breaks the LOW of this small candle:
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| Candle in channel |
Exit position
Daily time frame
Set the stop loss level 30 pips below/above the entry the price, or below/above the previous low/high. Move the stop to the entry price (breakeven) at 35 pips profit.
Exit the trade at a profit of 50 pips or more.
4h time frame
Set the stop loss level 25 pips below/above the entry the price, or below/above the previous low/high. Move the stop to the entry price (breakeven) at 20 pips profit.
Exit the trade at a profit of 30 pips or more.
More info for Candle in channel ~ questrade forex trading hours:
