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Non Trading Zones for newbies
When somebody starts in Forex one of the main questions is 'to trade or not to trade'.
The following set up is a simple way to answer this question.
Chart set-up for GU (can be adjusted for other pairs).
1. Blue 5 LWMA(MA_Period=5, MA_Shift=0, MA_Method=LineaWeighted)
2. Red 12 LWMA(MA_Period=12, MA_Shift=0, MA_Method=LineaWeighted)
3. Channel: 50 LWMA(MA_Period=50, MA_Shift=0, MA_Method=LineaWeighted) with levels +/-7 . On top goes FX sniper MA in color to show the trend.
Rule: Only enter trade when blue 5 LWMA & red 12 LWMA are out of the channel, in the direction of 50 MA.
Last edited by european; 07-31-2007 at 12:11 AM.
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