Phantom Forex new Signal service - How that Works

Author: Consultant Finmaxfx

What is Phantom Forex?

The FX Phantom ia a new Forex signal service by William Morrison uses several indicators and it allows to trade by trend and against the trend as well. The only difference in the deals is in the expected profit volume. The overall number of the positions opened according to this strategy is not so large which is an advantage in most cases especially when it comes to a comparison of losses versus profits. One of the main benefits of FX Phantom strategy is that negative positions appear not so often in case if you follow all the recommendations and rules.

Tagline: Access to a personal trading system used by nationally respected (rich) Forex trader. Including the secret of multiplying your Forex trading profits quickly.

Statistics: We have got 25 signals from this strategy in the period of January - July 2018. We managed to close 9 of them with zero profit, 5 of them were negative and the rest of the positions gave us roughly 800 pips of profit (four-digits quotes).

The currency pair is EUR/USD and the timeframe is H1

We use the following indicators:

Here comes an introduction to the Phantom Forex trading strategy. In most cases, we get the signal to enter the market when an acceleration candlestick appears. That is the reason why we decided to explain this term first.

Bullish acceleration candlestick

A reversal occurs after a descending price action and at least one bullish candlestick is formed. During the upside movement, a bullish candlestick which has the body equal to or less than it is shadow below is the acceleration candlestick. At the same time, the upper shadow does not have to be too large and the upper shadow does not have to be lower than the local reversal level.

What is Phantom Forex?

Bearish acceleration candlestick

A reversal occurs after an ascending price action and at least one bearish candlestick is formed. During the downside movement, a bearish candlestick which has the body equal to or less than it is shadow above is the acceleration candlestick. At the same time, the lower shadow does not have to be too large and the lower shadow does not have to be higher than the local reversal level.

BUY order conditions by the Phantom Forex are as follows:

The RSX indicator has entered into the oversold zone which is lower than the 20% level.

We open BUY position in case if the bullish engulfing candlestick pattern is formed on the local bottom (with the condition that the pattern has to be clear without any large shadows for both candlesticks). The RSX indicator has to be still in the oversold zone.

In any other case, we should wait for the acceleration candlestick to appear with the condition that RSX indicator is still below 50% level. We open BUY position once such acceleration candlestick is formed.

The stop-loss order has to be set below the local minimal rate, It does not have to be more than 45 pips and less than 30 pips. According to this Phantom strategy all the deals have to be divided into 2 categories: by the trend and against the trend.

  • The take-profit order has to be set for 95 pips in case if the price is below the SMA 150, so the position is against the trend.

The opened position has to be set to the non-risk mode (stop-loss sets to the entry point) once the RSX indicator moves closer to the 50% level. The position has to be closed manually by market price in case if the RSF indicator comes to the level of 80% before the price gets to the target.

  • We do not set the take-profit order at all in case if the price is above the SMA 150, so the position is by the trend.

We also do not set the non-risk mode for the position. But we close the position manually by the market price in case if the price moves 60 pips in the right direction and it reverses to the negative zone after that.

We take profit watching the RSX indicator. We should wait a moment when RXS indicator gets into the overbought level, reverses and moves back down. That is exactly the moment we should take the profit and close the deal manually.

If you like this strategy, you might also be interested in this Bill Williams Alligator

What is Phantom Forex?

SELL conditions by the Phantom Forex

The RSX indicator has entered into the overbought zone which is higher than the 80% level. We open SELL position in case if the bearish engulfing candlestick pattern is formed on the local top (with the condition that the pattern has to be clear without any large shadows for both candlesticks). The RSX indicator has to be still in the overbought zone.

In any other case, we should wait for the acceleration candlestick to appear with the condition that RSX indicator is still above 50% level. We open SELL position once such acceleration candlestick is formed.

The stop-loss order has to be set above the local maximum rate, It does not have to be more than 45 pips and less than 30 pips. According to this trading strategy all the deals have to be divided into 2 categories: by the trend and against the trend.

  • The take-profit order has to be set for 95 pips in case if the price is above the SMA 150, so the position is against the trend.

The opened position has to be set to the non-risk mode (stop-loss sets to the entry point) once the RSX indicator moves closer to the 50% level. The position has to be closed manually by market price in case if the RSF indicator comes to the level of 20% before the price gets to the target.

  • We do not set the take-profit order at all in case if the price is below the SMA 150, so the position is by the trend.

We also do not set the non-risk mode for the position. But we close the position manually by the market price in case if the price moves 60 pips in the right direction and it reverses to the negative zone after that.

CONCLUSION

We take profit watching the FX Phantom. We should wait a moment when RXS indicator gets to the oversold level, reverses and moves back up. That is exactly the moment we should take the profit and close the deal manually.

See also:
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