Update method Fozzy
Forex Strategy Update method Fozzy
Forex Strategy Update method Fozzy - very simple and informative forex strategy (an updated version of the previous version of FX Strategy Daily Fozzy Method ), the recommended currency pairs: EURUSD, USDJPY, GBPUSD, USDCHF, the recommended interval - H4, D1, but it is possible to trade and to M30 and H1 - only a little more to be false alarms (less than an interval).
So we need to combine in one box: an indicator RSI (8) - the color red, the moving average SMA (8) - the color blue and Bollinger Bands (20, deviation of 2) - green, dotted line.
conclude a deal to buy , if the RSI (8) crosses above the moving average SMA (8) below average Bollinger .
conclude a deal to sell , if the RSI (8) crosses above the moving average SMA (8) above the middle band Bollindger Bands .
Stop-Loss - near the maximum for the transaction to sell and close at least for the transaction to purchase.
Stop-loss is transferred to the breakeven point, when the price is 40-60 points (depending on the chosen currency pair). Then (if you wish, but not necessarily) you can use a trailing stop at 25 pips from the price.
Profit - return signals (opposite the intersection of RSI and SMA on the opposite side of the midline Bollinger)!