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137#1 min Scalping with four EMA

Submit by Janus Trader

 

Time Frame 1 min.

Currecy pairs: majors.

 

Forex Indicators:

 

 230-Period Exponential Moving Average

 115-Period Exponential Moving Average

 46-Period Exponential Moving Average

 23-Period Exponential Moving Average

 Stochastic Oscillator (%K = 3, %D = 2, Slowing = 2)

 

Once you have your charts setup then we’re ready to get on with learning the method.

 

long entry first:

The 115 and 230 MAs provide the longer-term guide to trend direction for us. That’s our RULE #1: 115EMA must be above the 230EMA

 

The 115 and 230 MAs provide the longer-term guide to trend direction for us. That’s our RULE #1: 115EMA must be above the 230EMA

 


Once Rule #1 is in place then we look for RULE #2: 23EMA must be above the 46EMA ...(note: the 23/46EMAs must also be above the 115/230EMAs as well!


 

 

Next we look to RULE #3: We then look for the ‘Main’ Stochastic line (the black one) to go below the 30-level and then back above the 30-level.  

 

 

 

here are two short trades in the chart below.

 

 

Exit

Stop Loss3 pips above or below 46EMA

Profit TargetAud/USD 6 pips, EUR/USD 8 pips, GBP/USD 10pips.

 

 

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

 

Write a comment

Comments: 2
  • #1

    ABCD (Friday, 03 February 2017 13:43)

    the stop loss, is it just 3 pips or 3pips + spread?

  • #2

    A BCD (Monday, 06 February 2017 05:18)

    what if the entry is below the 46 MA?where is the stop loss?

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