Howdy guys and gals!!
I read about these two famous trading systems somewhere in the forexfactory.com forum, and I decided to tweak/amend both setups a bit to fit my selfish purpose!! It is as simple as ABC, all you need to do is:
1- Plot 8, 12, 24, 72 EMA on a 1H timeframe.
2- Plot RSI set at 21.
3- 8,12, and 24 EMAs are all above or converge with the 72 EMA (Go long/buy), and RSI > 50.
4- 8,12, and 24 EMAs are all below or converge with the 72 EMA (Go short/sell), and RSI <50.
5- Entry point, be they support and resistance areas, fibonacci levels or pivot points.
6- Exit point, 8, 12 EMA cross down below the 24 EMA (in case of a buy), 8,12 EMA cross up the 24 EMA (in case of a short).
1 comment:
This is a good set up !
Have you tried on real or backtested it ? any results ? thanks.
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