Mandrake Forex Trading System akin to any market out there, the Forex one follows a simple process. It assorts in one certain region for some time & as the accumulation gets over, it simply advances to few meters ahead till distribution begins. According to many technical analysts, a Forex trader can’t think of trading without Stochastic Oscillator and Relative Strength Index.
A flat market is undoubtedly a bane for traders. During this phase, indicators may often emit misleading signals given absence of sufficient volume-volatility. This Mandrake System is good for AUD/USD, USD/CHF, GBP/USD and EUR/USD currency pairs. You may choose to go for any sort of short time frame, based on your specific trading style. I personally go for M15 charts.
Please see the chart here:
Major things to keep in mind while using this system for trading:
- Be cautious when you find strong support/ resistance closeby
- Don’t trade just before a major data release.
Rules of tradingBuy Signal:
-EMA Angle should be green
-All the Mandrake indicators should turn to dark blue.
-EMA Angle has to be yellow
-All the Mandrake indicators should be red.
- Mandrake Stochastic.ex4
- mandrake system.tpl
- Mandrake iTrend1.ex4
- Mandrake RSI.ex4
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Related Article: SunChin-Star Forex Trading System
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