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Forex Strategy “ZL”

This strategy is developed for the EURUSD currency pair (H1), although it is possible to trade on the other intervals with the same currency pair. The trade is led with the ZigZag signal indicator and extra terms of trading strategies, like report on forex advisor.

First, set the parameters 15-0-3 to the indicator of the ZigZag.

The conditions of trade:

There is an extended movement of price up or down on the currency pair EURUSD, which helps to figure out the levels for the deal conclusion. If there is a brown line on the graph, then the level is installed for transaction orders.

For an upward trend:

  • There should be 3 consistent vertices of the ZigZag, one of which is higher than 90 points.

For a downtrend:

  • There should be 3 consistent declines of the ZigZag minimum, one of which is on the distance of 90 points.

Now on the schedule there are 2 levels: the upward and the downward.

If a new upward level appears, you can delete the old one, because the new level will work for the downward trend as well. 

 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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