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Forex trading strategy Heiken Ashi Waves | Forex MT4 Download

17 of February of 2020 321
Forex trading strategy Heiken Ashi Waves

Forex trading strategy Heiken Ashi Waves

This commercial strategy uses the Heiken Ashi indicator, which is famous among professional FOREX Traders. Support and resistance are some of the most basic ways to trade Forex. Many traders, when they start trading, is one of the first things they know. FX traders experience some difficulties when they begin to learn the trade of supports and commercial resistance. Then, they move on to the next bright thing that catches their attention.

Timeframe: M15, H1, H4 and D1
Currency Pair: any
Trading Session: any

How to trade with Heiken Ashi Wave’s Forex trading strategy?

According to the chart below, where should we take the trade? Definitely not after units 1 and 3, what comes next are setbacks. You will not want to carry out an operation that goes against the general market trend. Just after number 2? Perhaps, after all, movement 3 is usually the strongest impulse of this pattern. Maybe, if you have a way of predicting that it would be a bullish channel.

With this strategy, however, we would take trade only in the fourth movement, which is probably the last impulse. In this way, we have an idea that the market is in an upward trend due to the higher high reached by movement 3. Next, we need to draw the support line connecting the base of movement 1 and the reversal in movement 2. And in Finally, extend it further to anticipate where the price might bounce.

Commercial configuration

Entry

Identify the initial phase of the Elliott wave pattern, which is movement 1 to 3 Draw the support line by connecting the base of the units Wait for the price to visit again and touch the support line Wait for the Heiken Ashi candle to turn green As soon as the Heiken Ashi candle turns green, place a purchase stop order on top of the candle and let the market complete the order

Stop Loss

Set the stop loss a few pips below the candle that touched the support line

Take Profit

Set the take profit target at the high of move 3

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