20 proven Forex Trading Strategies #3 and #4

5 Min Trading System # 3


Pairs:
EUR/USD, GBP/USD, USD/JPY, USD/CHF

Indicators:
Bollinger Band (20,2)
Stochastic (5,3,3)


Trading Rules:

* A close must happen outside the bollinger band.

* Stochastic oscillator must be in oversold area (below 20) or overbought area
(above 80)

* If market is in uptrend, look for a red candle. If market is in a downtrend, look for a green candle. We will call these the “signal candle”.

* Once you see your signal candle, enter in that same direction and aim for 10 pips.


* Stop loss at 20 pips or according to your trading rules.

5 Min Trading System # 4

Pairs:
EUR/USD, GBP/USD, GBP/JPY

Indicators:

Bollinger Band (20,2)

Rules For Long Trades:

* Bollinger band must slope up
* Go long when the price touches the middle bollinger band from above
* Stop loss at lower band or 15 pip
* Take profit at upper band

Rules For Short Trades:

* Bollinger band must slope down
* Go short when the price touches the middle bollinger band from below
* Stop loss at upper band or 15 min

* Take profit at lower band.

from the book 20 proven Forex Strategies