204# Stochastic, Bollinger Bands and LWMA's

Submit by Joy22 12/04/2012

 

Time Frame 5min

Currency Pairs :

Volatile: GBPJPY, GBPCHF, EURJPY

Majors: EURUSD, AUDUSD and GBP/USD

 

Indicators:

Stochastic (5, 3, 3),

LWMA H/L (White), 40 LWMA Close (yellow),

Bollinger Bands (20, 2).

Pivot indicators.

 

Long Entry:

Stochastic (5,3,3)>50 > Stochastic (18, 5,3).

LWMA H/L above middle band of the bollinger Bands and above 40 LWMA .

No Entry if Stochastic is in Overbought 

RE-Entry: wait retracement Stochastic on the 50 level line.

 


Short Entry

Stochastic (5,3,3)<50 < Stochastic (18, 5,3).

2 LWMA H/L below middle band of the bollinger Bands and below 40 LWMA .

No Entry if Stochastic is in Oversold

RE-Entry: wait retracement Stochastic on the 50 level line.

 

Exit position:

Stop loss 10-12 pips or previous swing.

Profit Target: First at levels pivot, or predetermined Profit Target 6-9 pips Majors pairs, 9-15 pips volatile pairs.

 


 

In the pictures Stochastic, Bollinger Bands and LWMA's scalping system in action.

 

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

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