15 Min Chart Trading on the GBP/JPY - 60/200 Ema (15 Min Chart Trading on the GBP/JPY - 60)
Hello everyone
Coming back from a long hiatus from trading and posting this after looking at some historical data. Indicators are kept to a minimum to make it as mechanical as possible, requiring only 2 confirmations. The strategy guarantees at least 50 pips and allows it to run equity over 100 pips.
As always, trade with the trend and watch for the next higher time frame if it confirms your entry. There is no hard and fast rule that you must wait for 50 pips, it depends on each trader's risk level and the leverage used.
Try it out in the demo for 15 days first, then ask questions and queries so we can make it better. No other indicators are needed.
The key to this strategy is to pay close attention to the 1-minute and 5-minute bounces off the 60/200 moving average, which act almost like support and resistance.
Entry and exit rules for long trades
=============================
1. The candlestick closed above the 60/200 Ema.
2. IXO Indi means green.
3. Close the half position by 50 pips, then move the stop loss to BE and close it once IXO changes color
Short Trading Entry and Exit Rules
=============================
1. The candlestick closed below the 60/200 Ema.
2. IXO Indi means red.
3. Close the half position by 50 pips, then move the stop loss to BE and close it once IXO changes color
index
======
IOXAH - Set 700
EMA - 200 - red, 60 - blue
Coming back from a long hiatus from trading and posting this after looking at some historical data. Indicators are kept to a minimum to make it as mechanical as possible, requiring only 2 confirmations. The strategy guarantees at least 50 pips and allows it to run equity over 100 pips.
As always, trade with the trend and watch for the next higher time frame if it confirms your entry. There is no hard and fast rule that you must wait for 50 pips, it depends on each trader's risk level and the leverage used.
Try it out in the demo for 15 days first, then ask questions and queries so we can make it better. No other indicators are needed.
The key to this strategy is to pay close attention to the 1-minute and 5-minute bounces off the 60/200 moving average, which act almost like support and resistance.
Entry and exit rules for long trades
=============================
1. The candlestick closed above the 60/200 Ema.
2. IXO Indi means green.
3. Close the half position by 50 pips, then move the stop loss to BE and close it once IXO changes color
Short Trading Entry and Exit Rules
=============================
1. The candlestick closed below the 60/200 Ema.
2. IXO Indi means red.
3. Close the half position by 50 pips, then move the stop loss to BE and close it once IXO changes color
index
======
IOXAH - Set 700
EMA - 200 - red, 60 - blue
Attachment to original post (2)
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