Forex Profit Matrix – Stay in Strong Trends with the Heiken Ashi Candlestick and Bollinger Band

Jul 05,  · A brand new start for me, an attempt to be a

The Take Profit level , on the other hand, should be placed at the closest Forexometry level or between 20 to 30 pips away from the entry level. Your service is excellent and I would not hesitate to recommend you. Next to establish is the Take Profit Level.

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Consider this for a moment. Trading success is all about assessing risk and the probability of success on each trade. Would this information give you a high risk, medium or low risk trading position?

And the answer……… is a low risk trading opportunity. After all, you are now taking a position based on a view across the market. This is where the Quantum currency matrix steps in. It provides the solution to all three problems in one elegant indicator, and is a complimentary indicator to the Quantum currency strength indicator. It shows you the complete picture across the market in a simple matrix, which works in all timeframes from 1 minute to 1 month.

From the eight major currencies come the 28 currency pairs which are then displayed in a table, with their relative strength scores, updated second by second and minute by minute. A score above 0.

This is the default setting. Each currency can then be isolated to show the 7 associated pairs and their relative scores. If all the associated pairs are showing similar strength either bullish or bearish then this is either a good time to join the move, or alternatively it may be an opportunity to wait for a reversal in trend as the pair becomes overbought or oversold.

The Quantum currency matrix gives you the tool to see the complexities of the forex market in real time across all the related pairs, along with the strength of the buying and selling. Whilst it is possible to do this manually using multiple charts, what a manual matrix will not provide is any measure of the relative strength.

As you can see on the image above, after two 2 candles, the price hits our 20 pip target level. However, if we used the closest Forexometry Level as our Take Profit level, you will find that the target was hit after few more candles and the trade would still have resulted in a profit.

Just like the buy trades, we will first be looking at two indicators: After the 2nd Red Heiken Matrix bar closes, we may look to enter the market with a sell trade order. On the image below, we can see that on the 1 hour chart, the Heiken Matrix bar is Red in color at the level where we wanted to enter the Sell trade.

We have to switch back to the 15 minute chart to place the buy trade at the open of the new candle that forms after the two Red Heiken Matrix bars have closed. Next, we will place our Take Profit level 30 Pips below our Sell entry because the closest Forexometry level is too close. The first thing to do is to wait for the Trend Booster indicator to turn Blue in color. Second, we must wait for two Blue Heiken Matrix bars to form on the price chart while the Trend Booster indicator remains to be Blue in color.

We need to make sure that when the 2nd Blue Heiken Matrix bars occurs on our chart; it is in agreement with the Trend Booster indicator. Now that we have the two indicators in agreement , we have the confirmation to place the buy trade order. We can also look for another confirmation using the SMMAs. This gives us confirmation that the market is moving upwards. Another confirmation that we can use is the Bollinger Bands. Instead price bounced upwards off the middle Bollinger Band.

With all the evidence shown on this example, we may place the buy trade order at the open of the next candle as soon as the two Blue Heiken Matrix bars have closed. The next thing to do is to set the Stop Loss Level. We targeted the Stop Loss level a few pips away from the recent swing low or approximately 25 pips away from our entry point.

The Take Profit Level for this example is a few pips above the closest Forexometry level or approximately 25 pips above the buy entry level. As you will see on the above image, it only takes us 2 candles to hit our Take Profit level.

This is a good example of a profitable buy trade using my system. Since the Trend Booster indicator turns to Blue in color , it gives us a signal for a buy trade. In this particular example, it was the Trend Booster indicator which first turns Blue in color.

What matters is that both indicators should be in agreement and be colored Blue at the same instance. At the point where the Trend Booster indicator turned Blue, we now have to look at the Heiken Matrix bars and wait for them to appear Blue as well. As soon as the 2nd Blue Heiken Matrix bar closes, we may enter the buy trade at the open of the next candle.

There is also good confirmation from the SMMAs. This is great confirmation that the price is in an uptrend. Since the recent swing low is near the maximum of 40 pips loss, we may set the Stop Loss level at 40 pips below the buy entry level.

Next to establish is the Take Profit Level. As it turned out, the price is ranging a bit; where the price does not make enough upward or downward movement and bounces only in between a specific high price and low price. After the ranging movement with few candles, the price touched the middle Bollinger band , and then continued to move in an upward direction.

Then few more candles after touching the middle Bollinger band, we hit our Take Profit Level resulting in a healthy profit. Once again, we will notice that the Trend Booster was the first indicator to give us a signal that the market is moving upwards as it appears Blue. The next thing that we will be doing after this is to wait for the Heiken Matrix bars to turn Blue in color to give us a confirmation.

This is a confirmation of a buy trade. As soon as the 2nd candle closes, we placed the buy trade at the open of a new candle. This means that the market is in an uptrend. Also, we can see that the candles have started to form above the upper Bollinger band. What we know about this is that this normally signifies a strong upward move is coming.

With the confirmation from the SMMAs and Bollinger bands, we have confirmed that the buy trade order is a good position. We have targeted our Stop Loss Level at 40 pips away since the previous swing low is too far away. From what you can see, this is another good buy trade which we took using the Forex Profit Matrix system. According to the rules, the take profit TP should be set at the closest Forexometry level or exit the trade manually as soon as you achieve a profit of between pips.

Basically, this technique increases the win rate. Normally, I consider 40 pips as the maximum SL. Because of this, different trades will have different SL and TP levels, and in order to risk the right amount per trade, you need to use the correct lot size. For example , if you use 40 pips as your SL then your TP can be from pips.