I have spent most of the weekend researching forex (as this is the only time I get to do it) and I happen to come across the following.
9/50 EMA crossover. OK here is the system.
Eur/Usd 15 minute chart (I only tried it on the Eur/Usd)
Around 3am-4am CST look for the crossover of the 9/50
Whichever way it crosses it will likely stay there for the rest of the
trading day unless there is a news event
Trailing SL of 1.5 times of the ATR(14)
Could this system work and if so how can I set it up? I am very new to FX and when I set up the EMA ( I think I have the right indicator) it only has one line so I am somewhat confused when it says buy or sell in the direction of the cross over at a certain time.
If this would be a valid system can someone post a chart or some how explain how I can set this up and test it.
Thanks and sorry I am sure this is something very simple
Thanks
CarpeUK
9/50 EMA crossover. OK here is the system.
Eur/Usd 15 minute chart (I only tried it on the Eur/Usd)
Around 3am-4am CST look for the crossover of the 9/50
Whichever way it crosses it will likely stay there for the rest of the
trading day unless there is a news event
Trailing SL of 1.5 times of the ATR(14)
Could this system work and if so how can I set it up? I am very new to FX and when I set up the EMA ( I think I have the right indicator) it only has one line so I am somewhat confused when it says buy or sell in the direction of the cross over at a certain time.
If this would be a valid system can someone post a chart or some how explain how I can set this up and test it.
Thanks and sorry I am sure this is something very simple
Thanks
CarpeUK