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Forex Piercing Line Pattern Trading Strategy 

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Base 150 armor piercing trading strategy
The base 150 armor piercing strategy was developed by traders from the Price Action school. It has become popular in a matter of time after some traders managed to earn lots of money from 80 deals in a row following the rules of this strategy. So, I suggest you to parse its operational principles to become a bit richer.
“Key ingredients”
Timeframe – H1, H4, D1

Currency pairs: EUR/USD, GBP/USD. USD/CHF, USD/JPY

Indicators – Exponential Moving Averages

“Rules of the game”
Sometimes price makes short downward swing towards the nearest support line. The strategy suggests you find these short-term pivotal points and enter the market when the trend reverses. You need to use Moving Averages for this purpose (plot MA with periods of 150 and 365, and two MA of a shorter time frame with periods of 6 and 25 for the confirmation of your pivotal point).
You should trade on the H4-D1 timeframes and use a smaller timeframe for confirmation of your entry point. First, you lose some money as you move down with the quotes to the nearest support line (located near the 150 and 365 MA), but then, you make ample profits from trading on the bigger trend moves.
How to trade:
The Price should break any slow Exponential Moving Average.
MA 6 should be located at the same level or upper than the slow MA.
After quotes reach the faster MA, we should switch our screen to the smaller timeframe and wait for a reversal signal.
Once we get this signal on the H4 timeframe, we should wait for confirmation on H1 timeframe, and only after we get it we can enter the market at the reversal point. Stop loss should be placed at the nearest maximum. Usually, it’s the maximum of the signal candlestick, the one that is located at the reversal point. Take-profit is placed at the distance that is two times bigger than those that we defined for our stop-loss.
The strategy Base 150 is really effective if used accordingly. So, you could apply it in your intraday trading activity and earn some money.

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