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Simple Forex Day Trading Strategy

    This is a very simple forex strategy for day traders. The strategy itself consists of only one advanced trading indicator.

    The indicator is composed of 2 bands and blue buy and red sell arrows. You can try this strategy on the 1 min, 5 min, 15 min and 30 min time frame.

    Let’s take a look below how it works:

    Chart Setup

    Indicators: fastsignals.exe
    Preferred time frame(s): 1 min and up
    Trading sessions: London and New York
    Preferred Currency pairs: any


    Download the Simple Forex Day Trading Strategy.

    Example: AUD/NZD M15 Chart


    As shown in the AUDNZD trading chart above, the bands are pointing down, so we are looking for sell signals (see trading rules).

    The indicator painted 2 qualified sell arrows near the top of the upper red band.

    Both sell trades were closed at the lower blue band for +38 pips and +30 pips profit.

    Please note that we never trade any of the blue arrows when the bands go downwards.

    Trading Rules

    Qualified Buy Trade:

    • Bands pointing up
    • Blue buy arrow appears near the lower band

    ==> Open buy trade and place protective stop-loss below the most recent swing low point (support).

    Price Objective: Close the buy trade when the price touches the upper band.

    Qualified Sell Trade:

    • Bands pointing down
    • Red sell arrow appears near the upper band

    ==> Open sell trade and place protective stop-loss above the most recent swing high point (resistance).

    Price Objective: Close the sell trade when the price touches the lower band.