29#Simple Strategy Trading System
SMA Stochastic and RSI Trading System
Long Entry Position:
when the price is above 150 SMA look for RSI to plunge below 20. Then look at Stochastic - once the Stochastic lines crossover occur and it is (must be) below 30 - enter Long with a new price bar.
Short Entry Position:
when the price is below 150 SMA wait for the RSI to go above 80. Then if shortly after you see a Stochastic lines crossover above 70.
Protective stop is placed at the moment of entry and is adjusted to the most recent swinghigh/low.
Profits are going to be taken next way:
Option 1 - using Stochastic - with the first Stochastic lines cross above 70 (for
uptrend) / below 30
(for downtrend).
Option 4- exit with trailing stop; Option 5- exit on pivot pointweekly or fibonacci point.
In the picture below SMA Stochastic and RSI Trading System in action.
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