200pips daily chart forex trading strategy with3emas




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200pips daily chart forex trading strategy with3emas200 Pips Daily Chart Forex Trading Strategy With 3 EMAs

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This 200 pips daily chart forex trading strategy is a very simple forex trading strategy for beginners. If you are a trader looking for a trading system that requires you to check your chart once a day, then this is it.

SETTING UP YOUR CHARTS

Indicators: 25 EMA, 60 EMA, 100 EMA, Robby DSS Forex download here.

Time frame: Daily Chart

Currency pairs: Majors and GBP/JPY

200 PIPS DAILY CHART FOREX TRADING STRATEGY WITH 3 EMA TRADING RULES

Buying Rules:

25 EMA above 60 EMA and 100 EMA.

60 EMA above 100 EMA.

Wait for the Robby DSS Forex oscillator to turn back above 20 from below.

Wait for first Robby DSS blue dot.

Buy the currency pair at the open of the next candlestick.

Place stop loss below the most recent swing low or 125 pips below entry (whatever comes first).

Profit target: 200 pips

Here is an example of the daily chart of GBP/USD. As you can see, 3 buy trades made us 600 pips. Click the chart to enlarge if its small.

Selling Rules:

25 EMA below 60 EMA and 100 EMA.

60 EMA below 100 EMA.

Wait for the Robby DSS Forex oscillator to turn back below 80 from above.

Wait for first Robby DSS red dot.

Short the currency pair at the open of the next candlestick.

Place stop loss above the most recent swing high or 125 pips above entry price (whatever comes first).

Profit target: 200 pips

ADVANTAGES OF 200 PIPS DAILY CHART FOREX TRADING STRATEGY WITH 3 EMAS

A very simple trading system requires very little maintenance.

You only need to check your charts once a day to see if the trading setup condition is being met or not.

which means less trading so the risk of overtrading is drastically reduced.

DISADVANTAGES OF 200 PIPS DAILY CHART FOREX TRADING STRATEGY WITH 3 EMAS

in a non trending market, youd have false signals so expect that.

Financial peace isnt the acquisition of stuff. Its learning to live on less than you make, so you can give money back and have money to invest. You cant win until you do this. Dave Ramsey

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