The CHF/SGD 1-hour Forex swing trading strategy is a profitable swing trading system that is built around 2 powerful technical indicators.
Although this trading strategy is quite easy to follow, it’s powerful and possesses a high degree of accuracy when plugged into live trading.
This forex swing strategy is perfect for beginners as well as professional traders.
Newbies will have to adhere to the trading rules in order to be as proficient as their pro-trader counterparts.
MetaTrader 4 Indicators: RoundPrice-Ext.ex4 (Inputs Variable Modified; t3_period=14.0, Colors Modified; #1=None, #2=None, #3=None, #4=None, #5=None), MACD.ex4 (Parameters Modified; Fast EMA=17, Slow EMA=31, MACD SMA=14)
Preferred Time Frame(s): 30-Minute, 1-Hour, 4-Hour, 1-Day, 1-Week, 1-Month
Recommended Trading Sessions: Any
Currency Pairs: CHF/SGD+ any other pair
Buy Trade Example: CHF/SGD (Swiss Franc / Singapore Dollar), H1 Chart
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the purple line of the RoundPrice-Ext custom indicator crosses below its gold line as shown on Fig. 1.0, price is said to be driven to the upside i.e. a trigger to buy the designated currency pair.
- If the silver histograms of the MACD Metatrader 4 forex indicator align above the zero horizontal level as illustrated on Fig. 1.0, bulls are said to be driving market sentiments, therefore a buy alert is duly recommended.
Stop Loss for Buy Entry: Place stop loss below swing support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If while a bullish trend is ongoing, the purple line of the RoundPrice-Ext indicator intersects the gold line as seen on Fig. 1.0, it is indicative of weaning bulls power, thus an exit or take profit stance is highly advised.
- If the MACD indicator pops up a silver histogram below the 0.00 reference level, a bearish reversal is said to be looming i.e. a trigger to exit or take profit at once.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the purple line of the RoundPrice-Ext custom indicator crosses above its gold line as exemplified on Fig. 1.1, the general market sentiment is said to be bearish, as such a sell alert is said to be imminent.
- If the silver histograms of the MACD indicator form below the zero horizontal level as depicted on Fig. 1.1, the overall market sentiment is said to be bearish, thus a signal to go short on the selected forex pair.
Stop Loss for Sell Entry: Place stop loss above swing resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If during the course of a bearish trend, the purple line of the RoundPrice-Ext indicator intersects the gold line (refer to Fig. 1.1), it is pointing to a diminishing bears power, as such an exit or take profit stance will suffice.
- If the MACD indicator pops up a silver histogram above the 0.00 horizontal level, a bullish reversal is said to be underway, thus a trigger to exit or take profit straightaway.
Sell Trade Example: CHF/SGD (Swiss Franc / Singapore Dollar), H1 Chart
About The Forex Technical Indicators Used
The RoundPrice-Ext custom indicator is a useful technical tool that is used to confirm the presence of market entry signals, along with their trends.
The moving average convergence divergence (MACD) is a trend-following momentum indicator that reveals the connection between two moving averages of price.
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