Snir is one of the most profitable and successful trading admins for Mike’s Facebook Signals Group. Before we can begin effectively implementing this trading strategy, full access to a charting solution is essential since this is a technical analysis based trading strategy. One user-friendly and reliable charting solution that you could consider using would be Free Stock Charts.
Now that you have your charting solution loaded, you will need to make sure to select a currency pair as your underlying asset. Once your currency pair is selected you must make sure to set the time frame to hourly and it is imperative to remember that we will be using 2 hours to End-of-Day long expiries when using this strategy. One of the best advantages in regards to this strategy would be that it only requires the use of one technical analysis indicator which would be the Exponential Moving Average (EMA) and you want to make sure that indicator is set to a period of 60.
Uptrend Trading Strategy demonstration
The last financial instrument we need to incorporate into the fabrication of our charting solution would be the Fibonacci Retracment tool which can be found on the left hand side labeled as Fib Ret. When incorporating the Fib Ret into your charting solution make sure to analyze the previous 5 days and start your Fib Ret at the lowest possible low and extend it to the underlying assets highest high. After you have inserted your Fib Ret tool, you should see a support level created that reflects a value of 61.8 which happens to be our signal line. After price has retraced back down above our signal line, we wait for price to touch our 61.8 Fib Ret level and then we go ahead and place a 2 hour or End-of-day CALL Investment. This strategy is extremely effective and success rates ranging from 76 to 80% can be expected when used correctly. To see this trading strategy in action, click on the video provided above.
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