Forex trading strategy #32 (4hour MA set)
Submitted by User on April 3, 2010 - 04:13.
Submitted by V
This strategy is based on 4hrs time frame.
EMA 89 and 144 applied to close for trend direction. When 89 is under 144, that means a down trend.
12WMA applied to close and 14SMA applied also to close.
Entry is done using 12WMA in the direction of the trend when price closes above or below it depending on if we are having a down trend or up and SL should be at 60-80pips while TP is 100-200pips.
When going against the trend, entry should be done using the 14SMA when price also closes above or below it depending on the 144 and 89EMA. In this chart, there lines shows entries using the 12wMA and 14SMA.
Hope this help out, suggestions are welcome.