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3 Fast Moving Average Forex Scalping Strategy
This is a scalping strategy that makes a trade decision by following the direction of the trend. This system uses fast moving averages and Morfeo indicator to identify the market trend. This is useful in a 5-15 minute timeframe. This is applicable to any currency pairs.
Metatrader Indicators:
- MA (Moving Average) fast 3
- MA (Moving Average) fast 7
- MA (Moving Average) fast 14
Bullish Trend: EMA 3 is above EMA 7, EMA 3 and 7 is above 14.
Bearish Trend: EMA 3 is below EMA 7 and EMA 3 and 7 is below 14.
Buy Entry:
- The asterisk must cross the middle-level line going UP.
- EMA 3 is above EMA 7, EMA 3 and 7 is above 14.
- Switch to the next higher timeframe. For example, if you are on a 5-minute chart, switch to 15 minutes. This is to ensure that the MAs are arranged.
Sell Entry:
- Just the opposite of buying conditions
Exit Positions:
- When 3 ma crosses in the opposite direction of MA 14.
- Quick take profit but also depends on the currency and the timeframe.
- At the levels of fibo pivot line.
- Place an initial stop loss on the previous swing.
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