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100 EMA and MACD Trading System
This system uses Damiani indicator that works on 4 hour timeframe. We can refer EMA 100 as our support/resistance line. It is advisable to use in all major currency pairs.
Forex Indicators:
- 100EMA
- MACD (15,26,9)
- Damiani Volameter (13,26,37,100,1,3)
Rules for long entry:
- Enter long position when price closes above 100 EMA.
- MACD histogram must be above 0 line.
Rules for short entry:
- Enter long position when price closes below the 100 EMA.
- MACD histogram must be below 0 line.
Rules for re-entry:
- Re-enter position in the direction you took the position for the first time when the price gives a long or short signal and retraces back to EMA 100. Do re-entry twice and observe.
For retrace entry:
- When a bar is over 100 pips then wait for a retracement to occur towards the
100 EMA line and then enter. This will save you from unnecessary draw down.
To exit position:
Take 3 positions per trade. Set TP to 40 for the first position, 70 pips for the 2nd and 3rd.
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