Time frame: 30M is the best choice for this strategy.
Currency pairs: AUD/USD, USD/JPY, EUR/USD, GBP/USD, EUR/JPY, NZD/USD, USD/CAD, GBP/JPY.
Indicators:
Exponential Moving Average 6 period, close, color blue,
Exponential Moving Averages from 7 at 20 period, close green,
Exponential Moving Average 21 period, close, color red,
MACD (3, 26, 1).
RSI (10 period) oversold 30 level, overbought 70 level.
Trading Rules Day Trade 30 min Time Frame
Buy
MACD above 0 line.
RSI must be below 70 line or above 30 line.
Candle must be close above EMA area.
Red or blue EMA must be clear in the chart. ( not covered by other ema).
Sell
MACD below 0 line.
RSI must be below 70 line or above 30 line.
Candle must be close below EMA area.
Red or blue EMA must be clear in the chart. ( not covered by other ema).
Exit position
You can give take profit at 1 to 3 or 1 to 2 ratio. Initial stop loss last turning point , Or you can close trade when candle close inside the ema area .
Read more:
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Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.