106# 1 min Scalping with 34 Exponential Moving average channel

1 min Scalping with 34 EMA Channel

 

 

Submit by JanusTrader

 

Time Frame 1min or higher

Currency pairs: Majors

Indicators:

34 Exponential Moving Average of the Close

34 Exponential Moving Average of the High

34 Exponential Moving Average of the Low

 

When price is above the MAs (Moving Averages) we are only looking to

buy as price comes back to the MAs.

(…and when price is below the MAs, we are only looking to sell when price

comes back to the MAs).

What we’re looking for when price pulls back to the MAs is for it to hold

and then show that it is going to continue.

We look for this continuation signal in terms of a strong, momentumdriven bar.

 

 

 


That trade would have been a minimum of 1:1 profit – and perhaps 2:1 if

you held-out for more.

Now – that’s really all there is to this system:

 

1) – Wait for pullback

2) – Enter when momentum comes into market

3) – Exit when momentum slows (or you’re not in profit within a

minute or two)

When the market has already moved a significant amount that day – I will

not enter in the same direct expecting a further move.

Sometimes the market will “grind” down (or up) slowly in a direction when

you enter a trade ...and other times it will drop (or rise) quickly without

looking back.

 


Quite often a failed trade in one direction is your guide to the market

going in the opposite direction – so keeps your wits about you!

 

 

 

Share your opinion, can help everyone to understand the forex strategy.

Write a comment

Comments: 1
  • #1

    Morgan (Saturday, 08 November 2014 19:19)

    I really like this strategy, it keeps things simple, no fancy indicators just dynamic resistance in trending market.

    However there is alot of whipsaws, where you will find the candle bringing the momentum to confirm your entry and then a strong reverse and breach of channel.

    Please tell me how to avoid whipsaws.

    Thanks

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