System for Forex trading “Cornflower”
The principle of “Cornflower” system is based on the fact that trading is conducted only if the direction of movement on different timeframes coincides. For operation, the hourly chart with different exponential moving average lines is used. 24 EMA determines the daily trend. 8 EMA shows the daily speed of “fast” money. 12 EMA shows a trend from the past part-time. The values of this line usually show the levels of support for the long-term trend. To a lesser extent, this applies to 24 EMA. Finally, 72 EMAs determine the dominant market trend. This trend will prove to be true, as the cumulative memory convinces traders to continue to trade in this direction. If the three middle lines of smaller timeframes are above 72 EMA, we are in an upward trend and do not open sell positions. And we do not buy if these lines are below 72 EMA.
The Cornflower system can be used for various types of trading and trading methods. When the price retreats into the area between 12 and 24 EMAs, there are opportunities for short and medium term transactions. Profit goals can be based on many criteria. These are usually support or resistance levels, beer levels or a fixed number of points. It is possible to enter into long-term trading when 12 EMAs cross 24 EMAs. The long-term settings in this system are strong and can yield hundreds of pips in trading, which will last for a maximum of two weeks.
The system works perfectly on all major currency pairs. MACD, RSI and Stohastic oscillators are used to determine the closing levels of positions.
The Cornflower system has two types of inputs – conservative and aggressive. The conservative method is applied on an hourly chart when the market is quiet and the price is between 8 and 24 EMA. The timing of this input can be mechanical (using 12 or 24 EMA) or controlled according to the trader’s judgement of the direction of travel. When the price leaves this range, you can use the M30 chart, although it is more risky. It is recommended to use only H1 and M30 with the Cornflower template. Shorter periods of time will lead to false entries, while longer periods are far behind the market. The quiet Asian session provides some excellent entry opportunities suitable for traders who cannot work in the London or American session.
An example of a conservative entrance to shopping.
Conservative entrance for sale.
Conservative entry rules:
We’ll use the hourly schedule
- 8, 12, and 24 EMAs are above (purchases) or below (sales) 72 EMAs.
- The price was based on 12 or 24 EMA.
- Set Take Profit at 20 pips or hold a position before changing MACD, RSI and Stohastic.
The rules of aggressive entry are similar, but the M30 chart is used. In all cases, the stop-loss is set behind the nearest local minimum or maximum. You can use the M5 chart to refine the input. The main currency pairs are considered EURUSD, USDCHF, AUDUSD, USDJPY, NZDUSD and USDCAD.
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