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Forex MTN very simple indicator that is well suited for scalping and intraday trading. Indicator Forex MTN universal and can be used on any currency pair and any time frames. Like any other indicator Forex MTN is better to use as a supplement to the main trading system.
Time Frame 15 min or higher.
Expiry time 1 candle or half candle.
Currency pairs: any.
Support and resistance with alert.
Forex MTN with level 12 and -12. is a price action indicator that in this strategy we have fitered with SR lines.
Trading rules Forex MTN with Support and Resistance
In the same time the price bounce on the support line and appear Forex MTN blue dot with line below the -12 level.
In the same time the price bounce on the resistance line and appear Forex MTN red dot with line above the 12 level.
This system has few signals so you have to open multiple graphics at different time frames but it is quite profitable.
Trading without binary options exit strategy.
Place initial stop loss 4-5 above below SR lines , make profit with predetermined profit target that depends by pairs, for example EUR/USD 15 min time frame PT= 9 pips, 30 min 12 pips, GBP/USD 15 min TF PT= 12 pips, 30 min TF PT 15 pips, 60 min 20 pips. USD/CAD 15 min TF PT= 12 pips, 30 min TF PT 15 pips, 60 min 20 pips. USD/JPY 15 min TF PT= 12 pips, 30 min TF PT 15 pips, 60 min 20 pips.
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