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I basically use this method on 15m on EU and GU.
Entry
Long :
Price made a HIGHER LOW and trading above our magical ema, place your buy limit order few pips above the HIGH
Sell :
Price made a LOWER LOW and trading below our magical ema, place your sell limit order few pips above the LOW
SL and TP
Refer to the example I going to post soon, and you will get the idea.
Add-On1:
Whenever you found SL is wider than your TP 1, skip the trade unless for some exceptional cases. This is due to risk:reward ratio is not 1:1 and above.
Last edited by mphpopular; 06-11-2009 at 08:16 AM.
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