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Sunday, June 23, 2024

Forex Trading Guide 2021: Universal strategy “Wild River”

Using the “Wild River” strategy, carry out trading operations only once or several times a month, but at the same time, the strategy allows you to earn more than 400-700 points a month. 

For this trading system, you need to configure the following charts:

1) Envelopes is a simple forex indicator with a period of 240 applied to close. The deviation is 0.06%, and the upper limit is blue, the lower one is red. All this constitutes the “river”.

2) Moving Average – a linearly weighted moving average with a period of 50 applied to the closing prices.

It is recommended to open positions on the 4-hour chart.

Volatile currency pairs are best suited for this strategy, therefore GBPJPY or EURJPY is recommended.

Position opening rules:

Open a long position after the close of the second candlestick outside the upper border of the river.

We open a short position after the close of the second candlestick outside the lower border of the river.

Stop – loss is set on the opposite side of the “river”. Waiting for the second candle to close (according to the requirements of this forex strategy), the chance that your open position will close in the red will decrease.

Market exit:

Partially close the position at the key Fibonacci levels (161.8% and 261.8%) or using a trailing stop with an interval of 50-100 points.

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