Intraday trading forex strategy for 5-minute chart:
Recommend trade for this strategy on currency pairs EURUSD and GBPUSD, but make no more than 3 commercial transactions per day.
- I recommend selecting a Broker Forex with Terminal MetaTrader 4
And so, in a 5-minute price chart:
1) Indicator 50 Simple Moving Average (SMA 50)
2) Indicator 21 Exponential Moving Average (EMA 21)
3) the 10 Exponential Moving Average (EMA 10)
The entrance to the market:
Open trading position as soon as the angle of SMA with a period of 50 exceeds 20 degrees (see graph number 1), and the price comes back — the area between the EMA with a period of 21 and EMA with a period of 10.
By Example — Figure 1, we open the deal to sell the slope of the 50 SMA. Set SL (6 pips spread) and TP (8-10 pips). When on your trade position will have 6 pips, immediately transfer the SL to breakeven (for this is simply not replace the trailing stop on a trip).
Just a few examples:
Addition to this forex strategy:
The most important thing in this forex strategy — is to find a strong trend for 5-minute price chart using the slope of the 50 SMA and enter the market only after the price rollback in the area of 2 remaining Moving Averages (EMA).
- Do not follow the trade on the forex strategy, before leaving the important news, this strategy forex absolutely not intended for trading on the news!
- You should never rush to open a bargain, wait until the entry will correspond absolutely to all the above rules!
- Better to choose a Forex Brokerage company with a minimum acceptable offset from the current price of 2-3 points.