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STRATEGY
Reversal strategy #644 uses three parts to try and find, you guessed it, reversals. Two out of three ain’t bad with this one. We’re using three reversal concepts and as long as at least two of them are giving us a signal, we’ll get in with a trade.

Firstly, we’ll be using the money flow index (MFI) technical indicator on its default settings of 14 periods with overbought/oversold levels at 80/20. If the MFI value is above 80 then the indicator is active for a sell trade, if the value is below 20 then things are oversold so we could enter a buy trade as long as we get a signal from one of our other two concepts.

Secondly, it’ll be the standard deviation channel on the charts. We’ll set our outer lines at 1.5x deviations from the centre trendline. If price has been outside the channel to the upside then we can take that as a sell signal. Vice versa if it’s been below the channel for the period we’re looking at that will be indicating a buy trade to us.

Thirdly, we’ll be looking out for a reversal candle. If the candle sets a higher high or lower low in price compared to the two candles that came before it then we’ll check if the open and close are both in the opposite half to the extreme of that price then we have ourselves a reversal candle. That reversal candle going in the same direction as our other signal we can get in our trade.

For our money management we’ll use the average true range indicator and split the trade into two subtrades. One subtrade will have a 2:1 risk reward ratio, so 2x ATR distance to the TP and 1x ATR distance to the SL, attempting to make sure we get more wins from our winners than losses from the losers. For our second subtrade we’ll go just the opposite, 1:2 risk reward ratio. Can’t go wrong, trade it on any charts, timeframes, probably won’t work on any of them. Let’s get trading.

PART 1:    • Reversal Strategum #644 D1 Strategy - Part...  
PART 2:    • Reversal Strategum #644 D1 Strategy - Part...  
PART 3:    • Reversal Strategum #644 D1 Strategy - Part...  
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PART 5:    • Reversal Strategum #644 D1 Strategy - Part...  
PART 6:    • Reversal Strategum #644 D1 Strategy - Part...  
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STANDARD DEVIATION CHANNEL
   • Standard Deviation Channel (SDC) Explained...  
https://www.metatrader5.com/en/termin...

MONEY FLOW INDEX
   • Money Flow Index (MFI) Explained | Technic...  
https://www.investopedia.com/terms/m/...

REVERSAL CANDLES
   • Reversal Candles Explained | Price Structure  
https://www.babypips.com/learn/forex/...

POSITION SIZE CALCULATOR
https://www.babypips.com/tools/positi...

TWITTER
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