I am using this 5Min intraday strategy with great success on the EurUsd and Gpb/Usd. Three
deals max. per day. Open position when the angle of the 50 Simple
moving average are greater than 20Degrees and the price retrace back
into the zone of the 21 Exponential moving average and the 10
Exponential moving average. Set stoploss at 6 pips plus spread and
profit taking at 8-10 pips. Move stoploss to breakeven as soon as 6
pips gain is obtained. Using this strategy is at your own risk. Hope
someone will benefit from it.
The 20 Degrees is determined by eyesight. It is about trading with the
trend that is strong when the angle of the 50MA is strongly in a
direction. It is not about the exact angle. One gets a feeling for the
movement over time. It is true that the samples given are very true
ones. It is to make the explanation easier. I do make max three trades
per day. After two wins in a row (±15-20 pips) I am finish for the day.
One win and one loss make me trade on more time. Two losses in a row
and I am out for the day. I will post more difficult examples. The main
purpose is to determine a strong 5min trend through the angle of the
50MA and then enter the trade when it retraces back inside the other
two MA's
The rules are as follow.
1. The 50 Simple moving average must be in a strong trend identified by the angle it is in.
2. Wait then for the price to pull back into(inbetween) the zone of the 21EMA and the 10EMA.
3. Enter the trade within this zone.
4. Set stoploss to 6 pips plus spread.
5. Move stoploss to breakeven after 6 pips gain is on.
6. Take profit 8-10 pips.
