Price Action Intraday Trading Strategy – M30 and H1 Forex Support and Resistance Trading System. This system is mainly based on support/resistance trading, in the direction of the major trend.
- Time Frame: M30 and H1
- Currency Pairs: GBPUSD, EURUSD, USDJPY, GBPJPY
- MTF Fractal
- WPR Slow
- Relative Strength Index
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- Use a demo account or a small live account first to practice this trading system
- MTF Fractal: Blue color below the previous swing low
- WPR Slow: Blue bars
- Relative Strength Index line: Above the level 60
- MTF Fractal: Red color above the previous swing high
- WPR Slow: Red bars
- Relative Strength Index line: Below the level 40
- Put the initial stop loss above or below the MTF Fractal/Dots – For example, when you enter a long trade – buy trade – use the last blue dots as your stop loss. And when you enter a short trade – sell – then use the last red dots as your stop loss.