This is also good forex trading strategy Slow MAs Crossover
Select any time frame & currency of your choice which respond the best (1 hour, 1 day… or any other).
1. Open Chart of required currency
2. Use candle stick pattern for the chat.
3. Then put/place following INDICATORS on chart
Indicators: (multiple of 7) 7 SMA, 14 SMA, 21 SMA. (use following colours)
When to Enter Trade:
you can enter the trade, when 7 SMA goes through 14 and continues through 21, BUY/SELL in the direction of 7 SMA once price gets through 21 SMA.
When to Exit Trade:
please exit when 7 SMA goes back and touches 21 SMA.
Select any time frame & currency of your choice which respond the best (1 hour, 1 day… or any other).
1. Open Chart of required currency
2. Use candle stick pattern for the chat.
3. Then put/place following INDICATORS on chart
Indicators: (multiple of 7) 7 SMA, 14 SMA, 21 SMA. (use following colours)
you can enter the trade, when 7 SMA goes through 14 and continues through 21, BUY/SELL in the direction of 7 SMA once price gets through 21 SMA.
When to Exit Trade:
please exit when 7 SMA goes back and touches 21 SMA.
Advantages: it is an easy set up and does not require any calculations or other studies. Can produce very good results during strong market moves, the system also can be easily programmed and traded automatically.
Disadvantages: System requires periodical monitoring according to a chosen time frame. SMA indicator signal can be confirmed after the current price bar has been fully formed and closed. In other words, when SMA stops changing and the signal is fixed, traders may rely on such information to open a trade.
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