Getting Started With This Forex Strategy
This is an effective forex strategy with only three indicators. I use this strategy primarily on the 15-minute chart, but it can be used effectively on longer time frames as well.
The three indicators being used are:
- Exponential 15-period Moving Average (closed)
- Exponential 25-period Moving Average (closed)
- Exponential 50-period Moving Average (closed)
You can refer to the picture above to see how your chart should look. The color of each Moving Average is entirely up to you.
How to Trade
You are only trading the 15 moving average crossings over/under the other two moving averages for this strategy.
When the 15 MA crosses above BOTH the 25 & 50 MA, you place a buy order. As indicated by the green arrows in this picture:
When the 15 MA crosses below BOTH the 25 & 50 MA, you place a sell order. As indicated by the red arrows in this picture:
As you can see this resulted in a very profitable trade!
Read More : 1 HOUR FOREX REVERSAL STRATEGY
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