Setup!Setup!Setup!

For the past few weeks, I've been trading off (demo aje) the 5M timeframe with 30M as my main reference. It's become clear to me that sitting in front of your PC all day long is not a fun thing to do at all. This is a generalized setup and by no means is a holy grail to untold riches. Feel free to experiment and modify just to stay true to the logic of whatever strategy you devise. Kalau ada pertanyaan pun boleh tanya Anne. Okay, on to our business.

Indicators:
1- fx_fish mode2
2- MACD OSMA
2- stoch filter
3- bb_band stop
(all courtesy of Sifu786, senyum sikit)
4- bollinger band
5- heiken ashi smoothed
6- moving average 200 EMA

Timeframes:
1- 15M (for entry)
2- 30M (for guide)

Only go long when price on 30M is cleanly above the blue dotted line. Now for entry, we have to look up on 5M which we will look for buy signals only. We've got our buy entry when the heiken ashi, fx fish mode, and stoch filter have turned blue, MACD OSMA has crossed above the -0.2 line, and most importanly, price has to be above the blue dotted line. Vice versa for short entry.
As for profit taking I just trail price as it goes. Once up 20 pips lock in some, once reach 50, lock in 20 and let it go, you can easily catch 100+ pips movements with EJ. Nevertheless, 30 pips TP and 30 pips SL from entry is a good way to go.

Demo trade it for at least to get a proper feeling of all the indicators and the setup altogether and most importantly do not trade against the trend.
On the fundamental notes, US data next week is heavy with important data, not the least of which is the FOMC rate announcement on Thursday morning, followed by the ISM Manufacturing Index later. Friday finishes up with the ever so important April NFP report and March factory orders. Ok, ciao..