This classical forex strategy is pretty simple, straightforward and yet effective.
Tools:
Forex Indicator Bollinger Bands with default period of 20.
Signals:
Buy: 3 consecutive bullish (green) candles.
Sell: 3 Consecutive bearish (red) candles.
Signal confirmation:
Final candle of 3 candle formation crosses outer lines of Bollinger bands.
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Timing of the entry:
After consecutive candles, retraction (correction) is pretty common. Expect it, especialy after more sudden moves and time your entry while correction is still in progress. You can get better price for your entry this way.
Profit target and stop loss:
Profit target should be same as distance from first dignal candle open to last signal candle close. Stop loss should be placed at high of signal candle for sell positions, and at the low for buy positions.
Timeframe:
Considering that SL,TP are calculated based on signal size, this forex strategy is extremely scalable. You can use it on timeframe that best suits your trading style.
Enigma warfare
