Interesting GBP/USD MA Crossover system
Hey guys, this is part of a system I've been developing and I thought I'd share it so everyone can point out errors and help me find areas for improvement.
GBP/USD - 1 hour chart.
48EMA
72EMA
Buy or sell when the candle opens below/above the 48 EMA and closes above/below the 72 EMA (so it crosses the channel in one candle). Keep the trade open until the opposite occurs, i.e. crossing the channel from the other direction.
You will make 1-2 trades per week, and these trades will bring you 30-200+ points.
I'm developing a stop loss that will set the stop loss after a certain number of pips or even at breakeven, and/or only allow the stop loss to be negative so many pips and hours after the opening trade.
I'm thinking of adding something else, but I'd like to hear what others think first.
It doesn't matter if it may take 1.5 candles to cross the channel, or if one of the candles starts on the other side of the 48 EMA within the channel.
GBP/USD - 1 hour chart.
48EMA
72EMA
Buy or sell when the candle opens below/above the 48 EMA and closes above/below the 72 EMA (so it crosses the channel in one candle). Keep the trade open until the opposite occurs, i.e. crossing the channel from the other direction.
You will make 1-2 trades per week, and these trades will bring you 30-200+ points.
I'm developing a stop loss that will set the stop loss after a certain number of pips or even at breakeven, and/or only allow the stop loss to be negative so many pips and hours after the opening trade.
I'm thinking of adding something else, but I'd like to hear what others think first.
It doesn't matter if it may take 1.5 candles to cross the channel, or if one of the candles starts on the other side of the 48 EMA within the channel.
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