ForexLia
This video shares a cell trading strategy using the GBP/JPY and the PP signal stochastic indicator with specific settings. The strategy involves taking a buy or sell trade based on certain signals and setting stop losses and profit targets. The creator of the video encourages viewers to like, share, and subscribe for more trading strategies.
Using Trading View by Cell Trading Strategy: A Guide for Traders
Trading GBP/JPY in the 5-Minute Time Frame
How to Use the PP Signal and Stochastic Indicator
Customizing the Stochastic Indicator Settings for Trading View
Taking a Buy Trade with Signal Confirmation
Stop Loss and Profit Target Set Up for a Buy Trade
Winning a Trade with Signal Confirmation for Sell Trade
Stop Loss and Profit Target Set Up for a Sell Trade
Confirming a Buy Signal for a Successful Trade
Sharing the Strategy with Other Traders
Trading is an art that requires constant learning and adaptation to market trends. Effective trading strategies, combined with a deep understanding of market indicators and signals, enable traders to navigate and make profitable trades. In this article, we will discuss the trading view by cell trading strategy, employing the PP Signal and the Stochastic Indicator to trade GBP/JPY in the 5-minute time frame.
Using Trading View
Trading View is an online platform for traders that offers real-time market data, and financial tools such as charts, technical analysis, and more. Trading View offers stock, forex, futures, cryptocurrency, and more. Trading View has a wide range of features and tools that help traders make informed decisions.
Trading GBP/JPY in the 5-Minute Time Frame
GBP/JPY is the forex symbol of a currency pair that represents the exchange rate of the pound sterling against the Japanese yen. Trading in the 5-minute time frame enables traders to capture short-term trades, making marginal gains that add up over time.
How to Use the PP Signal and Stochastic Indicator
The PP signal and Stochastic are popular technical indicators used in forex trading. The PP signals are the central pivot point, resistance levels 1-3, and support levels 1-3 for the asset being traded. In contrast, the stochastic indicator measures the strength of trends, indicating whether an asset is overbought or oversold.
Customizing the Stochastic Indicator Settings for Trading View
By default, the stochastic oscillator settings are 14, 3, 3, representing three lines. The %K line, the %D line, and a smoothed version of the %D line. The buy signal occurs when the red and green horizontal lines are below the blue cloud, and the M-A crosses upwards. On the other hand, a sell signal occurs when the red and green horizontal lines cross above the blue cloud, and the M-A crosses downwards.
Taking a Buy Trade with Signal Confirmation
When using the Trading View by cell trading strategy, taking a buy trade would require a blue cloud signal from the PP signal stochastic indicator. When this occurs, confirming the trade requires watching the horizontal lines. If the horizontal lines are upward, then placing a buy trade is advisable.
Stop Loss and Profit Target Set Up for a Buy Trade
Setting a stop loss is crucial in trading to limit loss. The stop loss value should be set at the previous low point. For a buy trade, the profit target should be set at 1 is to 1, as stated in the trading strategy. This value means that the profit target is equal to the stop loss value.
Winning a Trade with Signal Confirmation for Sell Trade
When the PP signal stochastic indicator shows a red cloud with the M-A crossing downwards, and the horizontal lines above the cloud, taking a sell trade is advisable. This would require the placement of the stop loss value at the previous high point, and setting the profit target at 1 is to 1.
Stop Loss and Profit Target Set Up for a Sell Trade
Setting up the stop loss value for a sell trade is crucial to limit the loss. The stop loss value should be placed at the previous high point. Setting the profit target at 1 is to 1 enables traders to make marginal gains on the trade.
Confirming a Buy Signal for a Successful Trade
Confirming a buy signal requires traders to watch the horizontal lines, ensuring that they are upward. This confirmation ensures that the trade can be executed, leading to a profitable trade.
Sharing the Strategy with Other Traders
If you find this strategy profitable, please share, like and subscribe to our channel. Sharing this strategy and other profitable trading strategies helps traders make informed decisions, boosting their profitability and efficiency in trading.
In conclusion, the Trading View by cell trading strategy, employing the PP signal and Stochastic Indicator, is an effective approach to trading GBP/JPY in the 5-minute time frame. Setting up stop loss and profit target values is crucial in minimizing losses and capturing profits, respectively. Traders can confirm buy signals by watching the horizontal lines, ensuring that they are upward. Sharing profitable trading strategies, such as this Trading View by cell trading strategy, is crucial in helping traders boost their profitability and efficiency in trading.
