196# Stochastic with Three Moving Averages Forex Trading System

Submit by JanusTrader 03/03/2012 ( Jamesagnew717 pictures and setting)

 

Time Frame 5min or 15min;

Currency poairs:any.

 

Forex Indicators:

200EMA;

50EMA;

20EMA.

Stochastic (14,3,3,);

Trendline Indicator (or manual draw Trendline).

Long Entry

Find an up trending market 20EMA>50EMA>200EMA(up trend). 

2. Wait for the price to pullback towards the rising Trend line.Go long in the vicinity of the rising Trend line if the Stochastic Oscillator turns positive from oversold market conditions.

3. Place stop 3 pips below the most recent level of support.

4. Place Profit Target 35-35 pips


Short Entry

Find an up trending market 20EMA<50EMA<200EMA(down trend). 

2. Wait for the price to pullback towards the rising Trend line.Go long in the vicinity of the rising Trend line if the Stochastic Oscillator turns negative from overbougth market conditions.

3. Place stop 3 pips below the most recent level of resistance.

4. Place Profit Target 35-35 pips


 

In the pictures Stochastic with Three Moving Averages trading system in action.

 

Share your opinion, can help everyone to understand the forex strategy.

Comments: 2

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