Forex EMA 5 Scalping Strategy
This is a scalping system that works on a 5-minute timeframe and is applicable to EURUSD and GBPUSD pairs. This trading system is easy because it will only use basic indicators and EMA is one of them.
Forex Indicators:
- EMAs: 5 EMA to the open(red line) & 5 EMA to the close(green line);
- Stochastic indicator;
- MACD indicator.
Long Entry:
- The Stochastic must cross up from the line 20 and is not overbought.
- The MACD must close higher than the previous value.
- The Signal candle must close bullish determined by a white color.
- The 5 EMAs must cross each other.
- Trade signals are only confirmed on closed candles.
Short Entry:
- The Stochastic must cross down from the 80 line and is not oversold.
- The MACD must close lower than the previous value.
- The Signal candle must close bearish determined by a black color.
- The 5 EMAs must cross each other.
- Trade signals are only confirmed on closed candles.
Exit:
- Exit the position when the EMA 5 cross again.
- Exit the position when there is a reversal.
- Place stop loss 20 pips minimum or the low of the previous candle.
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