How to Trade Three Black Crows Candlestick Pattern
In trading, we can rely on a bunch of different entry signals.
Forex Archer trading strategy
2023-04-03 • Updated
It’s really hard to predict where the price will go without special tools. That’s why, most traders use trading strategies. It’s up to you to make your own strategy or use an existing one. Here below you can find the example of the trading strategy that really works. You will need 5 tools to build it:
- Exponential moving average with period 86 (EMA86)
- Exponential moving average with period 21 (EMA21)
- Momentum indicator with period 8 and with the added 100 level
- Heiken Ashi (average bar in Japanese) indicator
- Stochastic Oscillator with the settings 8-3-3
It takes some time to set up all these tools, but it’s worth it. When you’ve done, you’ll see a clear picture of entries and exits. You always have two ways: to buy or to sell. Let’s see when you should choose one way or another.
Signal to buy:
- The EMA 21 crosses the EMA86 from the bottom up and stays above EMA 86;
- Momentum Indicator is above 100 level;
- Stochastic Oscillator is above 40 level and its main line is also above the supplementary one;
- Heiken Ashi formes a green
Are all the conditions met? Buy!
Signal to sell:
- The EMA21 crosses the EMA86 from up to down and stays below the EMA 86;
- Momentum indicator is below 100 level;
- Stochastic Oscillator is below 80 level, and its major line is below the supplementary one;
- Indicator Heiken Ashi formes a red candle;
Are all conditions met? Sell!
Try it in your trading today!
Similar
How to Trade Triangle Chart Patterns?
A triangle chart pattern is a consolidation pattern that involves an asset price moving within a gradually narrowing range.
Forex Trading Plan Example and Definition
Trading has several levels of complexity, starting from the easiest, like buying and selling random assets, to a more comprehensive one, with deliberate risk management, timing, and objectives.
-
How to start trading?
If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.
-
How to open an FBS account?
Click the 'Open account' button on our website and proceed to the Trader Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.
-
How to withdraw the money you earned with FBS?
The procedure is very straightforward. Go to the Withdrawal page on the website or the Finances section of the FBS Trader Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.
