Currency pair: Any
Time frame: 4 hour
Indicator: MACD (5,13,1) & MA (8 EMA, 21 EMA, 89 SMA, 200 SMA & 365 EMA)
N.B.- Personally I think first 3 MA is enough... It's my newbie thought.
I've taken USD/CHF pair as an example here... After opening the chart, put the MAs and MACD. You'll look like it....
With the crossover of 8 EMA below the 21 EMA & 89 SMA line followed by 21 EMA line to cross below to the 89 SMA line supported by MACD below zero line--- A sell signal...
As I was continuously studying keeping the charts minimized in the tray, sometimes I miss good opportunity in my demo trading. Here, see I could have entered the trade one candlestick back.....It could have given me some good pips....
As price moved towards my direction, I've moved my stop loss forward to a 15 pips gain level.... trailing stop.... I want to see, how long it can go from here.....
Let us see a little backwards by the time price continues to go down-- There is a buy signal... about a week back...
With a strategy, continuous monitoring is needed to get into any trade and to achieve the best from a trade.
At last, the price hit the trailing stop loss at 20 pips gain.
Happy trading!!!
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