Hello everyone! New to these forums, not new to trading…i’ve been at it for about a year now.
I recently came upon a system that I like. I’m using 5 and 10 EMA and RSI. Basically, when the 5 EMA crosses the 10 AND when the RSI crossed the 50 mark, that’s my entry signal. My TP is at 40 pips and SL, 20 pips. At first, I was using 50 pips but I found that 40 pip moves are definitely more common than 50 pips moves. I’m trading on the hour time frame.
I’m planning on trading every time I get a solid signal until I reach my weekly goal of 200 pips (as the title of this thread indicates)
Got a signal on the AUD/USD pair…less than an hour later, I had hit my TP for a cool 40 pips!
I see another potential signal forming on the EUR/USD as well. Here’s the current set up…
The price is getting pinched which usually means there’s a break out coming. I’m gunna check back in a few hours and see if the pair triggers my signal. I’m expecting the price to break upwards but i’m going to wait it out and see for sure.
Nice. Keep us posted. What are those green arrow signals in your first chart? What are your RSI settings? On what time frame you use this system? Thanks.
