Forex Indicator BullPips Trading Strategy

Description

Introduction
Welcome to BullPips and thank you for joining us! Over time we aim to grow the BullPips user base and evolve into one of the leading online trading communities.
No matter where you are on your trading journey, we want to ensure that it is BullPips that take s you to the next level – the level of consistent profitability.
As you will soon see the BullPips trading strategy is very simple to execute. It is easy to learn and can be mastered quickly. Having said that we know that all of you are at different levels of skill, knowledge and experience with trading and we sometimes forget that the things we have known and taken for granted for many years may seem alien to you new traders .
BullPips Explained
BullPips is based upon multiple market corrections over different Fibonacci periods on the 15 minute chart.
Any market is  moved by the collective force of equity currently being traded at one time from traders around the world. All being human, we possess predictable behaviour patterns which are repeated time and time again
.
BullPips and any other method is not to be outguessed, it is a mechanical strategy that looks for collective price patterns repeating themselves which historically have a greater chance of repeating themselves than not. That is all so don’t “guess” which entry may or may not work,  if  it  is  a  an entry according  to the criteria  – take the trade. Execute your trades correctly  with  appropriate  money  management  and  you  have  the  recipe  for  financial success.
We  use  a  CCI  (Commodity  Channel  Index)  indicator  to  determine  the  current  price  in relation to a moving average of the price and deviations from the price. This is calculated by the
following formula:
The  visual  look  of  the  indicator  with  its  four  red/blue  boxes  may  be  understandably mistaken for a multi-timeframe indicator; it is not multi-timeframe but multi-fibonacci. The setting  of the CCI is  set to 4 variables of the Fibonacci sequence (see link in BPSupport document) which are 13, 34, 55 and 89. While CCI is common and used by many traders in many markets,  the set-up of this indicator is unique and has been changed from MTF to Fibonacci.  It is one component of what makes BullPips unique and profitable.
Trade Entry Points
Buy Signals
- The price should be above the moving averages for a long trade. - The CCI indicator should show 3 or 4 (not 1 or 2) blue boxes . - There is an RF switch on the Retracement Finer indicator during the same candle as the CCI confirmation. This is signalled by a red bar up on the indicator. - Enter on the close of the set up bar.
Sell Signals
- The price should be below the moving averages for a short trade. - The CCI indicator should show 3 or 4 (not 1 or 2) red boxes. - There is an RF switch on the Retracement Finer indicator during the same candle as the CCI confirmation. This is signalled by a red bar down on the indicator. - Enter on the close of the set up bar.
An RF switch is simply when the Retracement Finder histogram shows a bar first switching from positive to negative or negative to positive as highlighted in the image below. The circled bars are RF switches.
Re-Entry Trades
Once  a  trade  has  worked  out  in  a  certain  trend  direction,  you  may  also  find  many opportunities to re-enter the market to gain more pips from the move. Re-entry trades are determined when:
a)   In a down-trend the 3 or 4 red CCI from the original entry signal have turned back to 1, 2 or 3 blue and then re-turned back to 3 or 4 red. This is in confirmed with an RF switch on the same bar. b)   In an up-trend the 3 or 4 blue CCI from the original entry signal have turned back to 1, 2 or 3 red and then re-turned back to 3 or 4 blue. This is in confirmed with an RF switch on the same bar.
Examples  for  buy  and  sell  trade  entries  and  re-entries  are  made  clearer  on  the  chart examples found below and in the support document.
Live Trading Moment
We hope you enjoy learning this great strategy and get as much as we do from it. Take your trading seriously and it will reward you for it.