Forex Day Trading Strategy: Multi Time Frame Heikin Ashi Candles

Updated: Aug 31


This multi time frame Heikin Ashi candle day trading strategy is just one of many day trading strategies in forex. Use this strategy with highly volatile pairs (e.g. GBP/AUD, GBP/USD, GBP/JPY, EUR/AUD, etc.) while looking at 15- and 1- minute charts.



Time Frame:


15-minute chart

1-minute chart



Indicators:

  • Heikin Ashi candles (colors: white for uptrend and red for downtrend). Open two charts of a similar forex pair. View one chart in a 15 minute time frame. View another chart in a 1 minute time frame.


Buy Set Up


1. Look for a white candle (uptrend) in the 15 minute TF. Wait for for the candle to finish (e.g. 4:00, 4:15, 4:30, 4:45, 5:00, 5:15, etc) before looking for an entry candle.


2. Look for an entry candle at the 1 minute TF. Only execute a buy order if the Heikin Ashi candle turns white and the 15 minute TF is also white (bullish).


3. Set stop loss at 20 pips. Take profit at 25 pips or higher.


4. Exit trade when the 15-minute candle turns red (bearish) after completing the 15-minute TF.

Multi Time Frame Heikin Ashi Day Trading Strategy

Sell Set Up

1. Look for a red candle (downtrend) in the 15 minute TF. Wait for for the candle to finish (e.g. 4:00, 4:15, 4:30, 4:45, 5:00, 5:15, etc) before looking for an entry candle.


2. Look for an entry candle at the 1 minute TF. Only execute a buy order if the Heikin Ashi candle turns red and the 15 minute TF is also red (bearish).


3. Set stop loss at 20 pips. Take profit at 25 pips or higher.


4. Exit trade when the 15-minute candle turns white (bullish) after completing the 15-minute TF.



Multi Time Frame Heikin Ashi Day Trading Strategy

Important Forex Day Trading Tips:

  • Use a demo trading account until you master this strategy.

  • Once your profit turns to 10 pips, place your stop loss to breakeven. This can help protect your capital.

  • Stop loss is always 20 pips. Never risk more than 2% of your account per trade. Less risk is always better.

  • Always remember the adage, "Only trade with money you can afford to lose."


Subscribe to Thousand Business-- Where Minds Meet Success, to be updated with our latest articles. To financial freedom, cheers!


Like this article? Share it! Click and copy the link below to your favorite social media network.

hypnosis 2.jpg
relationship%20help%20hypnosis_edited.jp

©2020 by thousandbusiness.com