High accuracy “Mega-Trend Forex Trading Strategy” with RSI Pallada Entry – Trend trading is the best trading strategy for all timeframes.
- Most Recommended Time Frame: H1 or higher
- Currency Pairs: Any
- Bollinger Bands Stop
- Pallada Entry
- Relative Strength Index
You will see that there are times that the market is really trending nicely, either up or down, the price will head back up to retest the support level that was broken only to fall down in a downtrend situation.
Similarly, the price will head back down to test the resistance level that was broken only to head back up bouncing from that level in an uptrend situation.
Knowing this characteristic of price action, we can make trading rules around such trending situations.
So the main concept of the “Mega-Trend Forex Trading Strategy ” is dynamic support and resistance trading. Take a look at the image below.
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- Use a demo account or a small live account first to practice this trading system
A support level is a level at which price bounced up from after it had been going down for some time. You will see support levels a “valleys” on a price chart.
- When the price breaks a support level, the price will continue falling down but then there will be times when it will go back up to the previous support level that it just broke some time ago. Now this previous support level at times can act as a resistance level from which price can hit it and fall back down again.
A resistance level is a level at which price bounced down from after it had been climbing up for some time. You will see resistance levels as “peaks” on your price chart.
- When price breaks a resistance level and climbs higher, there will be times when it will fall back down to the previous resistance level that it just broke some time ago. This previous resistance level at times will act as a support level from which price can bounce back up from.
- Download TraderVersity.Com-MegaTrendPalladaEntrySystem (Zip File)
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators /
- Copy the “TraderVersity.Com-MegaTrendPalladaEntrySystem.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex system
- Right-click on your trading chart and hover on “Template”
- Move right to select TraderVersity.Com-MegaTrendPalladaEntrySystem
- You will see “Mega-Trend Forex Trading System with RSI Pallada Entry” is available on your Chart
- Mega-Trend: Blue line
- Bollinger Bands Stop: Blue line
- Pallada Entry: Blue signals
- Relative Strength Index: Enter a BUY market order when the RSI line upward and above level 55 line
- Mega-Trend: Red line
- Bollinger Bands Stop: Red line
- Pallada Entry: Red signals
- Relative Strength Index: Enter a SELL market order when the RSI line downward and below level 45 line
- This”Mega-Trend Forex Trading System with RSI Pallada Entry” is easy to see and understand and implement with really simple trading rules.
- If you use larger time frames, the more pips you earn as the risk to reward is also really good for this trading system.
- Best Risk-Reward Ratio is 1:2 with money management.