BUY TRADE RULES (3BAR SIGNAL)
We’re waiting for the UP blue arrow and blue band to appear up. When the arrow appears (there will be an alert), we check the strength of the trend in the upper right corner.
The perfect situation (for buy signal) is three blue bars, which tells us that the signal is strong and it is in agreement with the major trend.
Trade should be closed, when the opposite signal appears (red down arrow and red band).
For Sell Trade Do the opposite of this
BUY TRADE RULES (1-2 BAR MEDIUM/WEAK SIGNAL).
FX VENOM PRO can produce also more risky signals. This can happen for example if the signal is generated against a higher timeframes trend.
How to recognise such signals? It’s very easy, you will see that not all bars are blue on the dashboard when the buy signal is produced.
Exit rules are the same as with 3 bars signal ➡ close the trade when a red down arrow appears.
FX VENOM PRO
Trades that have only 1-2 blue bars (for BUY signal) are not always losing one, they are simply more risky ones.
Even the major trend on the highest timeframes has to turn back somewhere and this maybe this moment.
If you decide to trade with only 1-2 bars confirmation, use a smaller lot. You can also set a tighter SL.
We can also notice in the above example that the trade generated a small number of pips (it was probably just a pullback of a higher trend).
For Sell Trade Do the opposite of this
Stop Loss
SL for the order should be placed at the last swing high (for sell trades) or on the last swing low (for buy trades) Or at the nearest support/resistance level (if close).