200 EMA Forex Strategy
Are you a relatively new trader looking for a solid forex strategy? A challenge facing many new traders when developing their forex strategy is the ability to identify the overall trend for intra-day trading. The 200 EMA (Exponential Moving Average) can solve the problem. The 200 EMA is one of the most popular indicators of all time with Forex traders the world over, and for that reason alone is worth noting due to the psychological effect on the market place price can have when hovering around the 200 EMA. Using The 200EMA Strategy To use this very powerful Forex strategy, create charts on 3 time frames: 4 hour 1 hour 15 minute Now plot a 200 EMA indicator on each chart and, as a suggestion, color it red, for easy visual impact. Preferably tile the 3 windows containing your 3 charts into a vertical fashion so you can see the 3 time frames next to each other. It will squeeze up the information on the charts somewhat but for the purpose of this strategy ...