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EMA 200 With Rainbow Forex Scalping Strategy
This is a strategy that uses EMA 200 with forex rainbow indicator. This is useful in London and New York sessions. This strategy is applicable in any currency pairs in a 15 minute timeframe. Since EMA is used in this system,
we expect that the market would be trending.
Forex Indicators:
- 200 EMA High
- 200 EMA low
- Forex Rainbow
Long Entry:
- The price must breaks upper channel 200 exponential moving average.
- Buy when aqua dot appear in forex rainbow indicators.
Short Entry:
- The price must break lower channel 200 exponential moving average.
- Buy when aqua dot appear forex rainbow indicators.
Exit Position:
- Quick take profit depends on the currency pairs. (min 7-max 10 pips)
- Stop loss should be 15-20 pips.
- for buy 2 pips below lower channel;
- for sell 2 pips above upper channel.
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