Registered User
Joined: 10/7/2004
Posts: 17
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Top 3, 12, and 50 DMAE On price chart
Middle RSI 8, 2.and MS
bottom MACD 8,17, 6
1. Use the Daily Chart to determine current trend usually the trend for the past week. Use the 50dmae to determine trend.
2. Do not trade when RSI is between 30% and 70% on the 5 min chart. Wait for the 5 min chart to agree with the trend when it reverses.
3. When RSI snaps Below 70% or below 30% execute a trade if it agrees with the trend. Then wait for MACD to confirm on 15 minute chart.
4. If no MACD confirmation follows the RSI, close the Trade or don't open trade. If MACD confirrms RSI keep trade open. Canstantly study FAST on moving averages.
5. Exit when RSI, MA, or MACD indicate to close. If RSI reverses when around 50% and only 10 to 15 pips have been made, close the trade. If RSI resverses when around 50% and 40-to pips have been made, perhaps suffer a retracement reversal and wait for the trend to continue later.
*if Price bar lengths become shorer, momentum is waning.
* A Flat top on RSI strongly suggest a reversal.
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