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Forex Strategy "Giancone for 5 minutes"

Forex strategy "Giancone for 5 minutes" - to trade on this forex strategy, I recommend that you first download and read the "Tutorial on pin bars", and only after that begin to master this tactics of Forex trading.

For this trading strategy, I recommend choosing a broker in the RATING of the site >> (see reviews of real customers)

The pin bar looks something like this:

A good pin bar should have:
- long nose (compared to the body)
- stand out very forward
- the opening and closing of the pin should be nearby

I remind you that you will find more information about Pin Bars here: "A Guide to Pin Bars"

The technical side of the forex strategy:

To trade on the forex strategy "Giancone for 5 minutes" you will need to adjust the price chart a little, namely:

1) Set the RSI indicator (6) - it will be used to find divergence.
2) Set the Bolinger Bands indicator (18.2), use it to find a trend in the market. And you can trade from its borders in the presence of a side trend and in the presence of a pin.
3) Set the Moving Averages 50 SMA and 21 EMA - needed to determine the trend in the market.

  • I recommend trading on the following currency pairs: eurusd, eurjpy, gbpusd, usdjpy.
  • Timeframe - 5 minutes (M5).

Forex strategy "Giancone for 5 minutes" consists of 2 fairly simple signals:

However, you should always remember that the best forex trades are those traded in a trend.

1) FIRST trading signal - This is a PIN bar in itself and the presence of a trend. If there is divergence, then this is an even better option for a deal.

Picture 1.

Figure 2

Figure 3

And this signal is quite enough!

2) The second trading signal is called CT - counter trend - i.e. "Against the trend." Again, everything is very, very easy: divergence + Pin Bar. Look at the price chart: if there is a pin bar and divergence - it's just a Great deal!

Figure 4

Desired Take Profit: + 15 pips, when making a deal against the trend, basically a good target is 21 moving average.

Stop loss should usually be set a few pips below or above the pin. Or behind the line of support or resistance.

A good helper in this forex strategy will be a trailing stop from 1 point, which will quickly move the stop loss to breakeven and will rearrange it in a profitable area even in the range from 1 to 15 points (but I remind you that this value depends on the trading conditions you have chosen Dealing Center).

However, remember that you do not need to enter into transactions if your profit-to-loss ratio is less than 1 to 1, or even better 2: 1.

It should also be noted that Pins should be at the top or bottom, and not in the middle of a price jam.

And most importantly - DO NOT BREAK THE RULES!

Video version of the Forex strategy "Giancone for 5 minutes":

Download template for MetaTrader 4 - jankone_5_minutes.tpl

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