This strategy works on any major currency pair but I recommend you to trade EUR/USD, GBP/USD, AUD/USD and USD/CHF since they are the most liquid ones. You can use any time frame depending on your trading style but I prefer M15 or M30 chart. If you are trading on short-term time frames, avoid trading during choppy market conditions such as early Asian or late Fridays session.
Trading success is all about making as much as one can when one is right and losing as little as possible when one is wrong. That is the essence of this business. Trading is essentially about “pain taking process” in the end although most do not realize it. The process of overcoming fear, greed and mastering tranquility of mind will always be important. So I am giving you a proper strategy in order for you to survive in this market.
Please have a look at the chart below:
There are 2 strong indicators which you will be watching. Besides, the trading rules are very easy.
-Wait for the price candle to close above the Gann Line
-The Gann Line has to be green
-MT4 indicator has to be blue
-Wait for the price candle to close below the Gann Line
-The Gann Line has to be red
-MT4 indicator has to be brown
Here is another example:
Profit Target: Depends on the currency pair you are trading. If you are trading EUR/USD on 30M time frame, you can go for 20-30 pips at least. Before trading live, try this strategy on different pairs and see what works best for you.
Stop Loss: Depends on the time frame you trade. For example: 25 pips (30M chart).
Download: Gann Power System