20 Forex Trading Strategies (5 Minute Time Frame) by Thomas Carter

Author:Thomas Carter [Carter, Thomas]
Language: eng
Format: epub
Published: 2014-08-27T18:30:00+00:00

EMA (14) < EMA (21) < EMA (50) for sell trade.

EMA (50) is within the Bollinger Bands

5 Min Trading System # 7

Pairs

This method works best with volatile pairs such as GBPJPY, or GBPUSD.

Setup

At 08:00 EST (New York Time), draw a box enclosing the high and low of the previous hour.

Entry

BUY if the price moves above the box by 20% of the box height.

SELL if the price moves below the box by 20% of the box height.

This signal is only valid for one hour after it is generated.

Exit

Close the BUY trade when the price hits 400% above the box height.

Close the SELL trade when the price hits 400% below the box height.

Initial stop loss for the BUY trade is the bottom of the box.

Initial stop loss for the SELL trade is the top of the box.

Place a trailing stop equivalent to the size of the box to capture the profits gained.

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