XPS v8 and Synergy trading signal Strategy For MT4
Table Of Contents:
- XPS v8 and Synergy trading signal Strategy For MT4
- XPS V8 and Synergy forex trading system – Long positions
- XPS V8 and Synergy forex trading system – Short positions
- Is the XPS V8 and Synergy forex trading system good for you?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The XPS v8 and Synergy trading signal Strategy For MT4 is a trading system that promises to offer a lot. However, this trading system is at best a mix of many technical indicators and cluttered charts and doesn’t really offer much in terms of trading for the trader. Therefore, we recommend that you exercise caution when trading with the XPS V8 Synergy trading system.
The XPS V8 and Synergy forex trading system makes use of the support and resistance levels on the price chart. Then, we also have the short term PASR like indicator that plots the minor retracements on the price chart. Following this, the oscillators basically show when the momentum in the trend is rising or falling.
The prices you see on the right side of the chart are dynamic levels where you can book your profits. There are a number of indicators that also allow you to monitor your trades along with the forex trend strength indicator which is displayed on the left side of the chart.
If you prefer trading with multiple indicators and used to trading with a cluttered chart, then the XPS V8 and Synergy forex trading system might be right up your alley. Most of the indicators in the XPS V8 and Synergy forex trading strategy are the XPS trading system. We cannot really comment on the merits of using this trading system as it doesn’t seem to provide a lot of edge in the markets when it comes to trading.
Almost all the indicators are custom built meaning that traders might want to experiment with the different settings to see what works for them. The XPS V8 and Synergy forex trading system works on a 1 hour chart time frame. But you could also use it on lower intraday chart time frames as well.
XPS V8 and Synergy forex trading system – Long positions
Let's now take a look at how you can trade the long positions using the XPS V8 and Synergy forex trading system. Firstly, we need to see price trading at the lower end of the price chart. After this, we should ideally be seeing a resistance level area plotted above the price. Then, we should see price reversing direction and moving higher. When there is a breakout from the resistance level, we then look for long signals
We should see the two oscillators in the XPS V8 and Synergy forex trading system to be bullish, suggesting that the uptrend is building up momentum. When you have the oscillators synced up with the price itself, initiate a long position after the breakout above the resistance level.
Open a long position at the open of the new candlestick session. You should set your stop loss to the recent low. Ideally, look for the candlestick itself to turn blue. This suggests that price is moving higher. Following this, use the price levels that are plotted on the right side of the chart as your take profit levels. Depending on your stops, you can then use these price levels where to book your profits.
Note that sometimes price movements can be very strong. This will result in price moving extremely fast. While you can take a long position in such a scenario, the risk reward is quite less. Therefore, this will potentially diminish the chances of you booking a decent profit, relative to the risk that you have taken up. Therefore, pay attention to the price action itself and do not trade every signal that is generated using the XPS V8 and Synergy forex trading system.
XPS V8 and Synergy forex trading system – Short positions
Let's now take a look at how you can trade the short positions using the XPS V8 and Synergy forex trading system. Firstly, we need to see price trading at the upper end of the price chart. After this, we should ideally be seeing a support level area plotted below the price. Then, we should see price reversing direction and moving lower. When there is a breakout from the support level, we then look for short signals.
We should see the two oscillators in the XPS V8 and Synergy forex trading system to be bearish, suggesting that the downtrend is building up momentum. When you have the oscillators synced up with the price itself, initiate a short position after the breakout below the support level.
Open a short position at the open of the new candlestick session. You should set your stop loss to the recent high. Ideally, look for the candlestick itself to turn pink. This suggests that price is moving lower. Following this, use the price levels that are plotted on the right side of the chart as your take profit levels. Depending on your stops, you can then use these price levels where to book your profits.
Remember that in some cases, you might find the price movements to be very strong. This will result in price moving very fast. While you can take a short position in such a scenario, the risk reward is quite less.
As a result, such short positions will potentially diminish the chances of you booking a decent profit, relative to the risk that you have taken up. Therefore, pay attention to the price action itself and do not trade every signal that is generated using the XPS V8 and Synergy forex trading system.
Is the XPS V8 and Synergy forex trading system good for you?
The XPS V8 and Synergy forex trading system gives traders the false illusion of being a trading system that can give you consistent results. But on the contrary, this trading system comes with lot of indicators which can slow down the performance of your MT4 trading system.
The charts are quite cluttered, and the use of only customized indicators means that traders do not really have a clue as to what is happening in the underlying price action itself. Beginners should definitely avoid using the XPS V8 and Synergy forex trading system.
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Partially Automated Trading Besides Your Day Job
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