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Kindly comment on this trading strategy
a) SELL entry - when candle close below SMA21, 50 & 200
b) BUY entry - when candle close above SMA21, 50 & 200
conditions:-
i) SELL entry - SMA21 & 50 MUST below SMA200
ii) BUY entry - SMA21 & 50 MUST above SMA200
thanking you in advance.
- 5 Answers
- In Forex Strategies
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- by
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- thegreeks
- 212 Views
- 1 year ago
Answers
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0 Votes
You need to add the pivot level, support and resistance. Some other indicators like MACD. |
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In my opinion, MA crossovers work best with higher time frames (4-Hour and Daily). Putting some other additional filters could also work too to avoid fake outs... You could put a momentum indicator to filter out those buy/sell where in the pair is already in overbought/oversold territory. Oh, and I think it's also important to always draw your support and resistance levels and trend lines no matter what trading strategy you use. |
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You need to use other indicators to support your buy and sell like Fibonacci, Gartley,support or resistance etc. Otherwise you will be trading blindly |
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This system sell after the price has plunged and buy after the price has soared. |
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Good luck trading SMA's as a standalone system. Use technical indicators to aid in trading, but use Price Action as your primary indicator. |
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