E-mail:    
Newsletter / Register

Real-Time Market News

Time Headline ID

source: FxWire Pro

Currency Strength Index

tradeinterceptor.com
EUR USD GBP JPY NZD CAD CHF AUD

 

Expert View

A Simple Price Action Based System for a Basket of AUD Pairs

Simple, Price Action, Based System, Basket of AUD Pairs, AUD, Australian dollar, Trading Systems, fx trader, forex

It is relatively easy to find articles about trading systems that achieve positive long term historical results on highly liquid Forex pairs. However this becomes more difficult as we move to more exotic pairs since trading costs generally make the development of profitable trading systems for these symbols harder. However there are a significant number of highly liquid crosses that trade at low trading costs (spreads of 3-5 pips) and could generally be considered to be cheap enough for the development of useful trading strategies. On this article we will talk about a strategy for the trading of a basket of AUD containing symbols, in particular the AUD/JPY, EUR/AUD and AUD/GBP. As these are some of the least commonly used trading pairs.
 


This price action based strategy uses simple open/high/low/close comparisons on the daily charts. The entry and exit rules are shown below. Note that the number between brackets represents how many bars in the past to look back (Open[1] = open of last closed bar, Low[10] = low of the tenth past closed bar, etc).

Long entry rules:
• High[141] > Low[46] AND Close[146] > Open[156]

Short entry rules:
• Low[141] < High[46] AND Close[146] < Open[156]


 

Next>>

 

Forex Live Quotes

Symbol Bid Ask Time
EUR/USD
-
-
-
GBP/USD
-
-
-
USD/JPY
-
-
-
USD/CAD
-
-
-
USD/CHF
-
-
-
GBP/JPY
-
-
-
AUD/USD
-
-
-
GBP/AUD
-
-
-
XAU/USD
-
-
-
XAG/USD
-
-
-