Candle in channel - questrade forex trading hours

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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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: