DislikedThere were two trades today.
The rules are as follow.
1. The 50 Simple moving average must be in a strong trend identified by the angle it is in.
2. Wait then for the price to pull back into(inbetween) the zone of the 21EMA and the 10EMA.
3. Enter the trade within this zone.
4. Set stoploss to 6 pips plus spread.
5. Move stoploss to breakeven after 6 pips gain is on.
6. Take profit 8-10 pips.Ignored
When you say "enter the trade within this zone" (zone of 21EMA and 10EMA),
at what price level do you enter? At open, close, high or low? As we give a very small stop loss of 6 pips, the level of enry plays a major role in the success and/or failure of the trade.
Thanks.
-Chandra.