SRT System
This system has proven over and over to be very profitable if used correctly and by the rules. It is not complicated, however its filter mechanisms allow me to find reliable entry points and setups on all timeframes.
RESISTANCE BUY Rules
1. Price closes above blue level of resistance.
2. Price has closed above the 8 SMA.
3. OsMA is above the red 0 line.
4. Enter long position when all of the above criteria are met.
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5. Stop Loss goes few pips below the 8 SMA of the entry candle.
6. Take Profit is set to 1:1. (If stop loss is 20 pips, profit target will then
also be 20 pips).
7. Manage the trade by moving your stop loss along the 8 SMA for each new candle that opens.
(I generally only begin to move my stop loss when a candle closes higher than my entry price.)
SUPPORT SELL RULES:
1. Price closes below red level of support.
2. Price has closed below the 8 SMA.
3. OsMA is below the red 0 line.
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4. Enter short position when all of the above criteria are met.
5. Stop Loss goes few pips above the 8 SMA of the entry candle.
6. Take Profit is set to 1:1 (If stop loss is 20 pips, profit target will then also be 20 pips).
7. Manage the trade by moving your stop loss along the 8 SMA for each new candle that opens. (I generally only begin to move my stop loss when a candle closes lower than my entry price.