99# Double EMA Channel with RSI and Stochastic
Swing Trading Forex Strategy
Submit By Louis 12/06/2013
Indicators
* Trade on daily chart (swing trading forex strategy)
* 5 EMA channel (applied to the close and add levels 50, -50);
* 10 EMA channel (applied to the close and add levels 50, -50);
* Stochastic indicator (11,3,3);
*RSI indicator (14);
Trading Rules:Double EMA Channel with RSI and Stochastic Forex Strategy
Entry Rules
Enter long if:
1. The 5 EMA channel crosses above the 10 EMA channel and both Stochastic indicator lines are heading up (do not enter if the stochastic indicator lines are already in the overbought territory)
2. RSI indicator is greater than 50
Enter short if:
1. The 5 EMA Channel crosses below the 10 EMA Channel and both stochastic indicator line are heading down AND (do not enter if the stochastic lines are already in oversold territory)
2. RSI indicator is less than 50
Exit Position opions:
Exit when the 5 EMA channel crosses the 10 EMA channel in the opposite direction of your trade;
if RSI indicator crosses back to 50;
with Profit Target 150-170 pips and Stop Loss = 70-80 pips.
In the pictures Double EMA Channel with RSI and Stochastic forex system in action.
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