Everyone should know that moving averages will indicate direction of price and wether you should be buying or selling with the trend.
Gold stars indicate correct setup. Arrows are entry. Red line is SL movement.
STRATEGY: CROSS & BOUNCE
TIMEFRAME: 4H (Will give traders time to enjoy their life and trades can be made simply from mobiles on the go)
CHARTS: USD/JPY GBP/JPY (Works the best because of high )
INDICATORS: MA (50/200) BB (20)
RULES: BUY ENTRY
1. BB (MA20) must be above MA (50)
2. Price must cross above both BB (MA20) & MA (50)
3. Price must test BB (MA20) as support while above MA (50)
4. conformation candle from support
5. Buy/Long Entry is made.
RULES: SELL ENTRY
1. BB (MA20) must be below MA (50)
2. Price must cross below both BB (MA20) & MA (50)
3. Price must test BB (MA20) as resistance while below MA (50)
4. conformation candle from resistance
5. Sell/Short Entry is made
RULES: SL AND HOW TO PLAY IT
1. SL Placed at bottom/top wick of conformation candle depending on buy/sell
2. Allow price to move in trade direction
3. When price retests MA(20) SL is moved to top/bottom wick of candle
4. repeat until price no longer stays above/below MA(20) and hits SL.
I have given 2 previous example of how this strategy works in the past few weeks, I hope you all enjoy it and would love some feedback and some helpful information to combat consolidation periods.
Current signal for Long order highlighted.
Please use strategy with your own judgement.