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Schaff Cycle Forex Trend Following Strategy
This system uses a 15 min and above timeframe. It is also applicable to any pairs. It is also the combination of EMA and stochastic indicators.
Forex Indicators and setups:
- Schaff Trend Cycle
- EMAs 100,
- Stochastic (21, 9,9)
Rules to enter a long position:
- EMA 100 must be sloping up.
- Schaff Trend Cycle must reach oversold territory on the chart (-10 +10).
- Enter long when the Schaff Trend Cycle turns back above 10.
- Stochastic must cross line up.
- Place stop loss to 10 pips below the most recent level of support.
- You can take profit if the Schaff Trend Cycle goes below 90.
Rules to enter a short position:
- EMA 100 must be sloping down.
- Schaff Trend Cycle must reach overbought territory on the chart (90-110),
- Enter short when the Schaff Trend Cycle turns back below 90.
- Stochastic crosses line down.
- Place stop loss to 3 pips above the most recent level of resistance.
- You can take profit if the Schaff Trend Cycle indicator moves down to -10 and then rises back above +10.
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