Forex Strategy «Rooks»

Instaforex

The basis of Forex strategies «Rooks», are graphical representations on the price chart, and to build a «Rooks» a conventional indicator MT4 — ZigZag, as well as standard tools — Andrews’ Pitchfork and Fibonacci (this strategy is suitable for all currency pairs and works at any time frames!)

Pattern Blue Rook:

Example of building you can see in Pic 1.

Forex Strategy "Rooks"

We find a downward spiral and denote it as AB — building a Fibonacci retracement levels on the segment AB. At the level of Fibonacci 61.8% — the price level is 0.9793 rebound rates — get the segment BC and then the price drops to the level of «rebound» — 0.9716 — get the segment CD.

That’s turned out this figure, which can be called «Rook flying down«.

And so we define the following points:

  • A — tail
  • B — paws rook
  • C — ear rook or crown, who both like
  • D — rook’s beak.

After the formation of «rook», building a pitchfork Andrews from the tail, claws and «crown»!
So we get 1-th signal at the conclusion of a deal to BUY — the intersection of the upper fork Andrews price.

If we draw a green straight line through the top of the AC, then along with pitchforks Andrews, obtain sector enter the market. And it should be noted that the «rook» as it pecks svom feet — this is nothing but the divergence — and this is yet another signal to the deal on the BUY.

Stop-loss, it should be set to the lowest point of «rook» - in this case — below the point D.
Take-profit or not intended, and the position of trailing. Or put at least above the point C or A. The same can partially close the trading position in achieving these points.

Pattern Red Rook:

«Red Rook» is constructed like blue, but in this case «flies up». And the most basic — no blue-rook «will not be red and the opposite. It is very important, because If we correctly razrisuem all the rooks, then we will approximate the point of return (see examples in the figures at the end of the strategy forex).

Pattern Red Rook

Appeared segment DE — building Fibonacci — get rolled EF. He was a bit would not reach the level of 61.8% thus (according to Elliott wave theory) is much more likely the more powerful upward movement. At least the «rebound» to a level of 0.9784, a maximum level of 1.618% (indicated on the graph as a point of G). Then build a pitchfork Andrews, holding a green line EF — ultimately get sector to enter the market for sale. And when the «red rook» fell to the level of 0.9784 — there was a breakdown down.

Stop-loss, it should be set for the very highest point of «rook» — in this case — below the point G.
Take-profit or not intended, and the position of trailing. Or put at least below the point M or D. The same can partially close the trading position in achieving these points.

  And so on — begins to form a blue rook …

Another important addition, I recommend to use a system of «three screens» with three different t / f on that emerges as the «rooks», and has analyzed the emergence of small and large «Rooks» gives a more complete picture of what is happening in the market.

And as in the theory of Elliott wave «small rooks» collected in the so-called «flocks of rooks«. Can already choosing 2 red and one blue unite in larger rook — try …

If it turns, for example, that the point C above the point A (see Figure 1), then enter into a transaction must have BuyStop, and for the transaction to sell — at SellStop, respectively.

Examples of building Rooks:

Trading Forex Strategy "Rooks"

Strategy "Rooks"

Trading Strategy "Rooks"

  • Share/Bookmark

If you liked this Forex strategy - You can subscribe to receive new materials on the site Strategy4forex.com by RSS or by e-mail:

Comments (2) on "Forex Strategy «Rooks»"

  1. Peter Vystavil, Blue Effect, Ltd.:

    Dear sirs,

    Greetings from Kezmarok, Slovak Republic. My name is Peter Vystavil and I would like to know if you offer also your forex strategy on CD. If you have it please let me know I would like to make an order.

    Thank you for your sooner response.

    Respectfully yours

    Peter Vystavil

  2. admin:

    Peter Vystavil,

    No, the CD-ROM with these strategies, I have no

Post a Comment