Forex trading strategy #6 ("Key Simplicity")

Please, when you say Time Frame: 1 Day which chart have I to view? 5M, 15M, 1H, Daily ...

You have to view Daily charts.
Regards,
Edward

men this strategy is fantastic... thank U so much.
Authentic

Please be more specific about when you would enter a trade with this system. Also, please explain a little better about the stop-loss that you would use.

Forex charts evaluation is made every new day.
For Long entry we need 5 EMA to cross 12 EMA upwards and RSI indicator readings to be over 50.

In Forex we always evaluate data that have already become a fact, e.g. for graphics it would mean data that has been imprinted on charts and is not going to change. For example, moving averages and RSI here are constantly changing their values while current daily candle is open. Therefore we cannot use those values, instead we look at data from yesterday.

For Short entries, according to yesterday data, 5 EMA must cross 12 EMA downwards and RSI must be below 50.

Exit rules are the same as for entries - original version; or can be adjusted for Long orders - below yesterday low, for Short orders - above yesterday high.

Regards,
Edward

Can this system be used with 1H charts? Should indicator values be changed?

In my opinion, no changes are needed for 1 hour time frame.
Trading with current rules, however, would require monitoring charts every single hour; plus you should expect more false signals.

Regards,
Edward

great strategy, I´ve started to use it combining it with early bird, in order to avoid big loses. In the demo account and for the moment(useful when you are going to cacht 50 or more pips) the results are very good.

thank you and good trades

Sarah
Barcelona