Interesting Video May 2013 - page 9

[Sergey Golubev]

ZZelse forex strategy

Set the ZigZag indicator on the EUR/USD hourly chart with the parameters 15-0-3. For buy trades:

• We wait for the formation of a local maximum of the zigzag, and it should be lower than another one - the previous local maximum

• after these 2 tops are formed, we place a pending BUY STOP order above point 3 for several points

• A Stop Loss is initially placed at the nearest minimum of the zigzag - point 2 (i.e., the last local minimum)

• Take Profit order, which is set at 80 points (for a 4-digit broker, for a 5-digit broker - 800 points).

• If a new minimum of a zigzag appears on the chart, then transfer the stop loss of the pending order