The Fractals Envelopes Dev system is a method used to detect ongoing market trends, whether they are saturated, sideways, or still trending. This system can also provide accurate signals to assist in trading decision-making.
Here are the steps to implement the Fractals Envelopes Dev system:
- Choose Favorite Pair: Firstly, select your favorite currency pair. For example, let's use GBP/USD.
- Set Standard Deviation: Use a Standard Deviation value of 10. This will help measure market volatility.
- Utilize Envelopes: No need to change Envelopes settings. Envelopes are tools used to determine support and resistance areas.
- Use Fractals: Also, no need to alter Fractals settings. Fractals are used to identify potential reversal points in the market trend.
Take Positions:
- Sell: If the Standard Deviation is above and the price is already in the blue Envelopes area, and there are Fractals indicating an upward arrow.
- Buy: If the Standard Deviation is below and the price is already in the red Envelopes area, and there are Fractals indicating a downward arrow.
Ensure not to open positions if the price does not align with the signals provided by this system. You can use various time frames and currency pairs according to your trading style. Always adhere to the use of stop loss (SL) and take profit (TP) according to your risk management practices.
By implementing these steps, you can use the Fractals Envelopes Dev system to assist in your trading decision-making. Keep practicing and adjust this system to match your own trading style and preferences.