Saturday, December 23, 2006
Forex day Trading system - Another simple trading startegy
Forex day trading system - Trading using EMA and bollinger bands
Many a times when you are trading you,ll observe that market keeps moving in tight range..The candles on 5 min chart become smaller and smaller..If you draw bollinger bands on the chart, they will become tighter and tighter..
This generally happens between 6 PM EST to 12 PM EST as the volatility is very low..One can take advantage when this happens using a particular forex day trading system. Since the market is in a tight range, a breakout will probably happen very soon..Learn this in forex trading online
During breakout, the candlestick will break through upper or lower bollinger band..When that happens, you should get ready to place a trade whenever your confirming indicator confirms..
What could be your confirming indicator? It could be RSI or MACD..However I prefer crossing of a fast and a slow moving EMA (Exponential Moving Average).. A 5 and 10 EMA crossover can be a confirming indicator. When trading on a 5 min chart, you can easily make 15-20 pip profit on a single trade
Thats all in today's session..Keep visiting to learn more on forex day trading system
Many a times when you are trading you,ll observe that market keeps moving in tight range..The candles on 5 min chart become smaller and smaller..If you draw bollinger bands on the chart, they will become tighter and tighter..
This generally happens between 6 PM EST to 12 PM EST as the volatility is very low..One can take advantage when this happens using a particular forex day trading system. Since the market is in a tight range, a breakout will probably happen very soon..Learn this in forex trading online
During breakout, the candlestick will break through upper or lower bollinger band..When that happens, you should get ready to place a trade whenever your confirming indicator confirms..
What could be your confirming indicator? It could be RSI or MACD..However I prefer crossing of a fast and a slow moving EMA (Exponential Moving Average).. A 5 and 10 EMA crossover can be a confirming indicator. When trading on a 5 min chart, you can easily make 15-20 pip profit on a single trade
Thats all in today's session..Keep visiting to learn more on forex day trading system
