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Home Trading Systems Forex Wave Trading System

Forex Wave Trading System

The Forex Wave Trading System also called as EMA Wave Trading System is a forex trend following strategy.

Main concept behind this system is to trade on pullbacks during strong trends.

Characteristics of the system:

  • Currency pairs: majors, any.
  • Timeframes: M1, M5, M15, M30.

Indicators involved:

  • 34 EMA High (green)
  • 34 EMA Low (Red)
  • 34 EMA close (White)
  • 161 EMA
  • Pivot
  • Stochastic (8,3,3)
  • RealMACD (5, 15,5)

How to trade with the Forex Wave Trading System?

Open BUY order when:

  • The price retraces into the wave from above the wave;
  • Wait for a candle that closes above the wave;
  • Stochastic should be greater than 50;
  • MACD should be greater than 0.

Open SELL order when:

  • The price retraces into the wave from below the wave;
  • Wait for a candle that closes below the wave;
  • Stochastic should be lesser than 50;
  • MACD should be lesser than 0.

Settings for the M30 timeframe:

Stop Loss and Take Profit suggestions:

  • Set SL for short at 2 pips above 34 EMA close.
  • Set SL for long at 2 pip below 34 EMA close.
  • Take profit target is on the level pivot or 35 pips.

Forex Wave Trading System free download:

To download this indicator or trading system just click the button below:

LINK

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