Forex trading strategy #18 (Teodosi Moving Averages' tunnels)
Submitted by Edward Revy on September 20, 2007 - 08:21.
This Forex system was submitted by Teodosi.
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"Hello guys i want to help all of you and i want to share you some good system.
Like many traders say good system is simple one an that`s why i`ll tell you one very simple.
This is......
- 1H (of 30MIN, but you will get more whipsaws) candlesticks/bar charts
- 18 EMA & 28 EMA (put them in red)
- 5 WMA (in blue) & 12 WMA (in yellow)
- RSI = 21
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Hello,
Firstly,i will like to thank you for the good work your forum has been rendering to many forex traders like me,your system looks very simple and profitable....more power to your elbow,also my regards to Mr Teodosi....
Pls i will like to have Mr Teodosi contact email becuase i have perfected his system by 50%.
Frank (frankshadows[a+t]yahoo.com)
hi mr teodosi, u told that this strategy is only suitable for 1hr chart. This mean only one bar represents 1hr or whole chart represents 1hr? And can we scalp using this strategy in small time frames?
thanx , jatin
Jatin,
1 hour chart means each candlestick represents 1 hour of trading.
You would encounter numerous false signals while trading it on smaller time frames. If you decide to test this Forex strategy for scalping purposes, make sure you trade it only from 8 am to 12 noon Eastern Time when Forex market is the most active. Don't even attempt to scalp during other hours, because your trading results would most likely be negative.
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