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Forex trading strategy #4-a (1-2-3, RSI + MACD)

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.

123 Forex strategy




123 Forex strategy

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