This trade is simple.
You will need . . .
The daily chart
50 SMA
Sell when the price is above the 50 sma and the 50 sma is angled down or flat.
Buy when the price is below the 50 sma and the 50 sma is angled up or flat.
Target the line or when selling target just above the line and when buying target just below the line.
Use support and/or resistance and price action signals to enter a trade.
Use whatever your risk tolerance is for stops .
The most recent 50 sma trade is right here. The gbpnzd daily chart. See the price is above the 50 line and the 50 line is angled down.
Entry was just after a pin bar price action candle and the target was just above the line. target was hit for 102 pips .
As you can see the price continued lower .
I began trading the 50 SMA on April 2nd 2014
You can see the progress of this trade here on myfxbook
50 SMA Trade System | Myfxbook
I will be posting set ups and charts as they become available.
IS it the same thread as rubber band system ?
Looks like the old thread is back up.
Oh Good !! OK see you there.
Yes… The Rubber Trade thread is back up , so go there now
Following here or on Rubber band thread?
