Megaphone Price-Swing Strategy:

The Megaphone Price-Swing Strategy is a price action strategy that works with the breakout of high or low price of the candlestick at the end of a trend. This strategy can be used to identify the swing high or swing low point in a major or minor trend.

The strategy is free of indicators and can be used on all time frames and on any currency pair.

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Megaphone Price-Swing Signals:

SCOPE FOR TUE 9 JUL 2019:

Megaphone Price-Swing Strategy (TUE 9 JUL 2019 16:24 GMT):

BTCUSD…

Megaphone

Megaphone Price-Swing Strategy (TUE 9 JUL 2019 14:18 GMT):

USDCHF…

Megaphone

SCOPE FOR MON 8 JUL 2019:

Megaphone Price-Swing Strategy (MON 8 JUL 2019 12:18 GMT):

GBPUSD…

Megaphone

AFTER

Megaphone

Megaphone Price-Swing Strategy (MON 8 JUL 2019 10:41 GMT):

EURUSD…

Megaphone

AFTER

Megaphone

Megaphone Price-Swing Strategy (SUN 23 JUN 2019 21:43 GMT):

EURJPY …

Megaphone

CHFJPY 4HR CHART, 21ST MAY 2019 (TUE 06:59 GMT):

Megaphone

CADJPY DAILY CHART, 21ST MAY 2019 (TUE 06:39 GMT):

Megaphone

CHFJPY DAILY CHART, 12TH MAY 2019 (SUN 22:06 GMT):

Megaphone

CADJPY DAILY CHART, 12TH MAY 2019 (SUN 21:36 GMT):

Megaphone

EURJPY DAILY CHART, 12TH MAY 2019 (SUN 21:36 GMT):

Megaphone

USDCHF DAILY CHART, 12TH MAY 2019 (SUN 21:17 GMT):

Megaphone

USDCHF 4H CHART, 7TH MAY 2019 (TUE 22:29 GMT):

Megaphone

EURAUD DAILY CHART, 5TH MAY 2019 (SUN 20:15 GMT):

Megaphone

USDCAD DAILY CHART, 5TH MAY 2019 (SUN 19:58 GMT):

Megaphone

AUDCHF DAILY CHART, 1ST MAY 2019 (WED 15:11 GMT):

Megaphone

AFTER

Megaphone

 

EURJPY DAILY CHART, 29TH APRIL 2019 (MON 22:23 GMT):

Megaphone

EURUSD DAILY CHART, 29TH APRIL 2019 (MON 22:14 GMT):

Megaphone

AFTER

Megaphone

NZDUSD DAILY CHART, 29TH APRIL 2019 (SUN 00:19 GMT):

Megaphone

NZDJPY DAILY CHART, 28TH APRIL 2019 (SUN 23:59 GMT):

Megaphone

AUDCHF DAILY CHART, 28TH APRIL 2019 (SUN 23:52 GMT):

Megaphone

AUDCAD DAILY CHART, 28TH APRIL 2019 (SUN 23:43 GMT):

Megaphone

AUDUSD DAILY CHART, 28TH APRIL 2019 (SUN 23:36 GMT):

Megaphone

AFTER

Megaphone

GBPUSD DAILY CHART, 28TH APRIL 2019 (SUN 23:19 GMT):

Megaphone

AFTER

Megaphone

XAUUSD DAILY CHART, 25TH APRIL 2019 (THUR 22:32 GMT):

Megaphone

AFTER

Megaphone

USDJPY DAILY CHART, 25TH APRIL 2019 (THUR 22:16 GMT):

Megaphone

AFTER

Megaphone

AUDCHF DAILY CHART, 24TH APRIL 2019 (WED 22:16 GMT):

Megaphone

EURCHF DAILY CHART, 24TH APRIL 2019 (WED 22:16 GMT):

Megaphone

AFTER

Megaphone

USDCAD 4HR CHART, 22ND APRIL 2019 (MON 02:01 GMT):

Megaphone

AUDJPY DAILY CHART, 20TH APRIL 2019 (SAT 13:09 GMT):

Megaphone

AFTER

Megaphone

EURJPY DAILY CHART, 20TH APRIL 2019 (SAT 13:09 GMT):

Megaphone

AFTER

Megaphone

CADJPY DAILY CHART, 20TH APRIL 2019 (SAT 09:30 GMT):

Megaphone

AFTER

Megaphone

AUDUSD DAILY CHART, 19TH APRIL 2019 (FRI 21:33 GMT):

Megaphone

AFTER

Megaphone

 

 

Megaphone

How to use this strategy:

Step 1: Identify a trend on MT 4 chart (this can either be an uptrend or a downtrend).

Step 2: Wait for the formation of a new candle bar at the end of the trend whose price will break the high price or low price of the previous candle bar.

In the image below (for a downtrend), the current candle bar price has a higher price than the first previous candle bar high price.

 

Megaphone

 

Step 3: Draw trend lines and connect the close price of the second previous candle bar to both ends of the first previous candle bar.

Use trend lines to connect the close price of the 2nd previous candle to the high and low price of the 1st previous candle as shown in the image below.

 

Megaphone

 

Step 4: Draw two more trend lines and connect the close price of the second previous candle bar to the open and close price of the first previous candle bar.

In other words, use trend lines to connect the close price of the 2nd previous candle to the open price and close price of the 1st previous candle as shown below.

Megaphone

 

Uptrend Price Movement:

Megaphone

 

Downtrend price movement:

 

Megaphone

Megaphone

 

The megaphone shape is now ready as shown in the image above (it is divided into three triangles).

Step 5: Identify the price retracement/reversal zone or the trend continuation zone. In the image below, in a downtrend as shown below, if the current candle bar price closes in the green megaphone zone, then retracement or reversal of the down trend price movement may occur.

On the other hand, if the current candle bar price closes in the red megaphone zone, price may continue downtrend price. If the current candle bar price closes in the white zone, then price may consolidate/range for some time before entering the green or red zone.

Megaphone

 

How To Place Buy Trades:

In a downtrend, ensure that the current candle (breakout candle) has just established a high price that is higher than the previous candle high.

Enter Buy trades if the breakout candle bar closes in the upper triangle (green area). Place buy trade at the close price of the breakout candle as shown in the image below.

Megaphone

Megaphone

How To Place Sell Trades:

In an uptrend, ensure that the current candle (breakout candle) has just established a low price that is lower than the previous candle low.

Enter Sell trade if the breakout candle closes in the lower triangle (red area). Place sell entry at the close price of the breakout candle as shown in the image below.

Megaphone

Megaphone

Neutral Zone:

Stay action in the white triangle zone and wait for price to close in the red or green triangle.

 

Stop-Loss Placement:

For buy trades, stop-loss point will be at the low price of the 1st previous candle.

Stop-Loss for Buy trade = Breakout Candle close price1st Previous candle low price 

Megaphone

For sell trades, stop-loss point will be at the high price of the 1st previous candle.

Stop-Loss for Sell trade= 1st Previous candle high priceBreakout Candle close price.

Megaphone

Take Profit Placement:

Placing take profit varies for each time frame. The higher the time frame, the bigger the take profit value.

For Buy trade, if the amount of pips between the Breakout Candle close price and the 1st previous candle low price is X, then take profit may be at least 1.5 X.

Megaphone

For Sell trade, if the amount of pips between the Breakout Candle close price and the 1st previous candle low price is X, then take profit may be at least 1.5 X.

Megaphone

Megaphone

 

Megaphone

 

Advantage Of Megaphone Price-Swing Strategy:

The main advantage of using this strategy is that it users to identify the point of price rejection.

The strategy also identifies the area of support and resistance as well as point of swing high and swing low.

 

To Reduce The Trend Line Rays On MT 4 (PC):

Megaphone

Megaphone

 

Megaphone

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