Forex trading strategy #4-a (1-2-3, RSI + MACD)
Submitted by User on March 2, 2009 - 15:57.
Submitted by Lino
Hi Edward
I have spent a considerable time studying your strategies and i would like to share with everyone what i have taken and now apply to my trading.
Any currency pair can be traded
Indicators: 5,10,20 EMAs - RSI - MACD
Time frame: I use 15min charts (I find bigger time frames to slow and bigger stops)
Entry rules: On an down trend wait for a higher low.
Find a 1-2-3 setup
Enter long just below 2 with stops just under 3
RSI MUST be above 50
MACD must be or just about to cross over.
Exit rules: Once you have reached to same distance as risked close out.
http://forex-strategies-revealed.com/
Good system, well done.
Thank you for sharing! I'm glad to publish it here.
Best regards,
Edward
What is Platform charting name did you use at those screenshoot ?
Regards;
Manus168
I use market scope from FXCM.
Hi Edward,
I would just like to post a short trade example i just finished trading.
Thank you Lino,
Very good examples.
I like the way you initially approached the 123 setup. For me this was something I've never thought about before. I've enjoyed learning about it. Thank you.
Best regards,
Edward
This a wonderful system. Thanks for sharing it.
I like trading 123s, and I am starting to look more at the 15 min chart.
So this fits right into what I am doing now.
Just a little question. What part do the MAs play in it?
Thanks again
Jeff
Hi Jeff
I only take the trade once the EMAs have crossed in the direction of the trade. It helps to filter out bad trades.
I must say that i do also look at bigger time frame and prefer to trade in that direction, the trend is your friend.
Cheers and happy trading.
Edward-
How about using the crossover of Stochastics lines to help identify 1,2 and 3 ?
George
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