20 Forex trading strategies collection PDF- 5 minute time frame by Thomas Carter

20 Forex trading strategies collection PDF- 5 minute time frame by Thomas Carter can help you to jump start your forex trading adventure. It’s very easy to follow. But remember, patience and discipline is the key.

Category: Forex

Author: Thomas Carter

Language: English

Download link: At the end of the post

Excerpt

5 Min Trading System # 6

Pairs: EUR/USD
Setup
This forex strategy requires 2 charts open simultaneously. Remember to wait till the previous 5 minute bar closes before placing a trade, or closing any open trades.

5 minute chart:
EMA (14)
EMA (21)
EMA (50)
Bollinger Bands (20, 20)
1 hour chart:
EMA (14)
EMA (21)
EMA (50)
Bollinger Bands (20, 20)
BUYEntry
5 minute chart:
EMA (14) > EMA (21)
EMA (21) > EMA (50)
EMA (50) is within the Bollinger Bands
1 hour chart:
EMA (14) > EMA (21)
EMA (21) > EMA (50)
EMA (50) is within the Bollinger Bands
Current bar is touching EMA (14) or EMA (21)
Current bar closing price is above opening price
Place a BUY trade if all the above conditions are met on both the 5 minute chart and 1
hour chart. Wait for the 5 minute bar to close before taking the trade.
SELL Entry
5 minute chart:
EMA (14) < EMA (21)
EMA (21) < EMA (50)
EMA (50) is within the Bollinger Bands
1 hour chart:
EMA (14) < EMA (21)
EMA (21) < EMA (50)
EMA (50) is within the Bollinger Bands
Current bar is touching EMA (14) or EMA (21)
Current bar closing price is below opening price. Place a SELLtrade if all the above conditions are met on both the 5 minute chart and 1 hour chart. Wait for the 5 minute bar to close before taking the trade.
EXIT
Exit the trade if the following conditions are no longer met on both the 5 minute and 1 hour chart:
EMA (14) > EMA (21) > EMA (50) for buy trade.
EMA (14) < EMA (21) < EMA (50) for sell trade.
EMA (50) is within the Bollinger Bands

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