Hello Everyone
This is a simple method that I have been using, not sure if its already know to others but for me its rather new.
Strategy:
Pairs: Pull out a chart GBP/USD - GBP/JPY - EUR/JPY
TF : Any time frame I prefer 15 min - 1 HR (sometimes i take the 5 min entries)
Indicator: 3 Simple moving averages , all of them set to 100 shift ZERO
First MA is set to High, Second is set to Low, Third set to CLose
Conclusion:
When ever a bar closes below or above the THREE lines take the trade, Long trades = Bar closing above Short trades= Bar closing below
Stop loss when ever a new signal is generated
Profit taking:
For 15 Min charts 30-40 pips on the first lot and move SL to BE on the second lot, same goes for the 1HR setups Profits set to 80-100 pips and second lot is moved to BE.
Other indicators to help is: MACD set to normal settings or smoothe Hieken Ashi
I will be posting the trades as it happens here
IMPORTANT: ONLY LOOK FOR FULLY DEVELOPED BARS ABOVE OR BELOW THE HIGHWAY
Good Luck ALL
http://cdn.forexfactory.com/images/misc/progress.gif
This is a simple method that I have been using, not sure if its already know to others but for me its rather new.
Strategy:
Pairs: Pull out a chart GBP/USD - GBP/JPY - EUR/JPY
TF : Any time frame I prefer 15 min - 1 HR (sometimes i take the 5 min entries)
Indicator: 3 Simple moving averages , all of them set to 100 shift ZERO
First MA is set to High, Second is set to Low, Third set to CLose
Conclusion:
When ever a bar closes below or above the THREE lines take the trade, Long trades = Bar closing above Short trades= Bar closing below
Stop loss when ever a new signal is generated
Profit taking:
For 15 Min charts 30-40 pips on the first lot and move SL to BE on the second lot, same goes for the 1HR setups Profits set to 80-100 pips and second lot is moved to BE.
Other indicators to help is: MACD set to normal settings or smoothe Hieken Ashi
I will be posting the trades as it happens here
IMPORTANT: ONLY LOOK FOR FULLY DEVELOPED BARS ABOVE OR BELOW THE HIGHWAY
Good Luck ALL
http://cdn.forexfactory.com/images/misc/progress.gif