Forex round numbers trading system. The numbers ending in one or more zeros such as 09500 10350 8750 etc.
Price Action 90 Acuurate Round Number Zone Strategy Forex Trading Strategy
Round numbers refers to pretty much what it sounds like.
Forex round numbers. Round numbers in forex the currency pairs often have a tendency to rebound off significant round numbers. Fellow kiwi trader andrew mitchem has been trading for the past 12 years after making the transition from dai! ry farmer to forex trader when he became a stay at home dad for his 3 year old son. Round numbers indicator for mt4.
I found this strategy on google and i thought was interesting enough to post it. We allow two digits after the point since numbers are smaller compared to stocks. Forex traders aiming to take advantage of the phenomenon have to construct a system based on the order flow connected with these levels.
A new improved version of the indicator with an automatic chart scaling option released. Forex trading strategies to trade round numbers round numbers are powerful even in forex trading because institutions usually place their orders at those levels. What are round numbers in forex trading and most importantly why do we need to pay attention to them.
Round numbers strategy figure 1 note that on june 8 2006 the eurusd is trading well below its 200 sma indicating that the pair is in a strong downtrend ! figure 1. On a price chart these figures are generally conside! red to rule off levels at the 50 and 100 mark. This is another very simple but extremely efficient strategy.
Round numbers in forex are price levels such as 110 or 112. We allow two digits after the point since numbers are smaller compared to stocks. When you install the given indicator it may seem to you that lines are barely visible on the chart but its a primary advantage of this indicator as compared to other similar ones.
This is probably one of the simplest trading concepts but very often so overlooked.
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