hang eleven trading strategy

Here we define the hang eleven trading strategy.

The settings used on the MACD for Hang Eleven are defined on this post.

The idea is always to find a trend on a longer forex chart and to move to a lower timeframe to seek successful forex trades.

But it isn't that simple...

On the lower time frame we are actually playing the role of contrarian trader. That is to say that we will enter trades that we expect to be losers for as long as the market returns to the trend momentum expressed on the longer frame.

Depending on the frame used the moves of resistance to the longer trend can be of many points. For example a resistance trend on a daily chart can be worth 10 or even 20 points. This means that feeding contrarian trades into such a resistance can seem futile but if done properly then every trade executed will pay for itself once, and if, the longer trend resumes and continues it's direction.

This will be explained in more detail later and be made evident with real time illustrated case points.

Trading forex or any other financial market is similar to swimming in a shark tank. Due diligence is the only real insurance that one can find when fighting the mite of money managers who need to defeat someone in order to make a profit for their clients.

Don't let yourself be a victim.....