Momo 100 Forex Trading Strategy For MT4
The Momo 100 Forex Trading Strategy For MT4 is not restricted to trading a specific pair – you can use it to trade all currency pairs. However, as far as time frames are concerned – there is a restriction imposed. That is, you can only trade this strategy or system on the four-hour and hourly charts.
The main indicator here is the momentum indicator. The key level of focus here is its 100 level. Being a trend-following momentum-based trading strategy, we are able to obtain cues as to when the market is continuing with its trend after a retracement.
A buy trade can be placed when the price goes above the 100-period EMA. Furthermore, there should be a clear indication that the market is trending bullishly – this will be seen by the classic uptrend price movements of higher lows and higher highs. Thirdly, the momentum indicator needs to duck below the 100 level upon a retracement.
Then after that, it needs to come back up and cross the 100 level going up to show that the market is continuing with the uptrend. When you have all these happenings manifesting around the same time then you can activate your buy order. Your stop loss should be positioned right below the last swing low. Your take profit will be placed above your entry twice the size of stop loss.
A sell trade can be placed when the price goes below the 100-period EMA. Furthermore, there should be a clear indication that the market is trending bearishly – this will be seen by the classic downtrend price movements of lower lows and lower highs. Thirdly, the momentum indicator needs to go above the 100 level upon a retracement.
Then after that, it needs to come back down and cross the 100 level going down to show that the market is continuing with the downtrend. When you have all these happenings manifesting around the same time then you can activate your sell order. Your stop loss should be positioned right above or at the last swing high. Your take profit will be placed below your entry twice the size of stop loss.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
