Salam;
Since long time of studying, searching and practicing, I had found up 50 Formulas for trading.
I will show you one of them, And I hope so, someone can use it better to be a successful trader.
1st, trader must master how to determine Resistance and Support? we have 3 Resistances and 3 Supports
We should car of R3 and S3.
TIP1 for determining R and S:
On MT4, Insertion/Indicators/Williams/FRACTAL
TIP2: Calculate R and S from Fibonacci Method
TIP3: Calculate R and S from Camarilla Method
TIP4: Use other Method
R3= H+2(PP-L) and
S3= L-2(H-PP) ok
It is your own research how to determine best accurate R3 and S3
Formula:
U = (R3 - (R3 - S3)) times Y
R3 is Resistance three
S3 is Support three
Y is 38% or 0.38
BUY @ R3 - U/100
if trend is stil BULLISH since the market started (a week)
SELL @ S3 + U/100 if trend is stil BEARISH since the market started ( a week)
TIP5 USE AN AVERAGE FRAME H2 TO DETREMINE SUPPORT AND RESISTANCE
Frame H2 is frame H1 but we do play with ZOOM
TIP6 : TP = 2SL
Good LUCK