Intraday Trading system using 5 minutes trading time frame chart.
Currency pairs: EURUSD, GBPUSD
Time frame chart: 5 minutes time frame chart
Forex technical indicators: 10 EMA Exponential Moving Average Forex technical indicator, 21 EMA Exponential Moving Average trend indicator, 50 Simple Moving Average indicator Forex.
The important thing in the Forex trading is to search a strong trend on the 5 minutes time frame chart using 50 Simple moving average indicator Forex and open a new trading position just after the market price reversed to the area 21 exponential moving average indicator and the 10 exponential moving average trend indicator EMA.
Do not open a new trading position before big news event, this Forex intraday trading system is not made for news trading. Do not open a new trading position until the market price situation meet the trading rules!
Let me repeat the trading rules again:
- 50 Simple moving average indicator should give strong trading signal, slope at least 20 degree
- wait until the market price reversed between Exponential moving average 21 and exponential moving average 10
- Set your stop loss and profit target based on risk and reward ratio, at least 1:2