Here is a system I played with last week and it worked well
you use it in day and 5 mins charts
day chart is the screening chart.
The only thing I have on it is a 7 EMA
I am looking at 3 things
1. Where the candle is over or under the 7EMA
2. Candle formation . esp the last candlr ie, green candle to go up.
3. Tails
all 3 must be in agreement to one way. and I am only looking to go that way
Them move to the 5 Min
I have 3 EMAS on it 5. 20,120
I want the 5ema to go below the 120ema (in an up trend)
Them come back thought up wards this is the sign to get in - to Enter
SL is the last swing down
or 50s & 100s on the charts ie. 1.550
TP is @ the 200% 1/2
& at the 300% the other 1/2
or 50s 100s on the charts
Or if the 5ems crosses back under the 20ema
Or 2 times your stop loss
TEB
you use it in day and 5 mins charts
day chart is the screening chart.
The only thing I have on it is a 7 EMA
I am looking at 3 things
1. Where the candle is over or under the 7EMA
2. Candle formation . esp the last candlr ie, green candle to go up.
3. Tails
all 3 must be in agreement to one way. and I am only looking to go that way
Them move to the 5 Min
I have 3 EMAS on it 5. 20,120
I want the 5ema to go below the 120ema (in an up trend)
Them come back thought up wards this is the sign to get in - to Enter
SL is the last swing down
or 50s & 100s on the charts ie. 1.550
TP is @ the 200% 1/2
& at the 300% the other 1/2
or 50s 100s on the charts
Or if the 5ems crosses back under the 20ema
Or 2 times your stop loss
TEB