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Simple Trend Retracement Forex Trading Strategy
“Trade with the trend!”, “The trend is your friend!” You may have heard this age-old maxim that traders love to say. This is so true, and I can’t stress it even more. This is the cornerstone of most of my trading strategies. I usually want to trade with the trend. Sure, there are setups that could
However, though trading with the trend is supposed to be easier, sometimes trading with the trend, especially momentum trades, leave you being caught right at the peak of a short rally. This often causes traders to be stopped out or panic as the price starts to turn down. Little did they know, it could just be one of the many short retracements and thrusts that price does as it rallies upward.
For our charts, the EMAs will be as follows:
10 EMA: the yellow line
15 EMA: green line
50 EMA: red line
Now, on to our setups.Buy Entry:
Yellow and green lines should be above the red line.
The yellow line should be above the green line.
Price should be above the yellow line.
Then allow price to retrace back in between the 10 and 15 EMA but not closing below it.
Wait for price to close back above the 10 EMA.
As soon as price closes above the 10 EMA, enter a buy market order.
Stop Loss: A few pips below the 15 EMA.
Exit: Trail the stop loss a few pips below the 15 EMA as the trade starts to profit.
Sell Entry:
Yellow and green lines should be below the red line.
The yellow line should be below the green line.
Price should be below the yellow line.
Then allow price to retrace back in between the 10 and 15 EMA but not closing above it.
Wait for price to close back below the 10 EMA.
As soon as price closes below the 10 EMA, enter a sell market order.
Stop Loss: A few pips above the 15 EMA.
Exit: Trail the stop loss a few pips above the 15 EMA as the trade starts to profit.
Download Free Simple Trend Retracement Forex Trading Strategy
Simple Trend Retracement Forex Trading Strategy
“Trade with the trend!”, “The trend is your friend!” You may have heard this age-old maxim that traders love to say. This is so true, and I can’t stress it even more. This is the cornerstone of most of my trading strategies. I usually want to trade with the trend. Sure, there are setups that could
However, though trading with the trend is supposed to be easier, sometimes trading with the trend, especially momentum trades, leave you being caught right at the peak of a short rally. This often causes traders to be stopped out or panic as the price starts to turn down. Little did they know, it could just be one of the many short retracements and thrusts that price does as it rallies upward.
For our charts, the EMAs will be as follows:
10 EMA: the yellow line
15 EMA: green line
50 EMA: red line
Now, on to our setups.Buy Entry:
Yellow and green lines should be above the red line.
The yellow line should be above the green line.
Price should be above the yellow line.
Then allow price to retrace back in between the 10 and 15 EMA but not closing below it.
Wait for price to close back above the 10 EMA.
As soon as price closes above the 10 EMA, enter a buy market order.
Stop Loss: A few pips below the 15 EMA.
Exit: Trail the stop loss a few pips below the 15 EMA as the trade starts to profit.
Sell Entry:
Yellow and green lines should be below the red line.
The yellow line should be below the green line.
Price should be below the yellow line.
Then allow price to retrace back in between the 10 and 15 EMA but not closing above it.
Wait for price to close back below the 10 EMA.
As soon as price closes below the 10 EMA, enter a sell market order.
Stop Loss: A few pips above the 15 EMA.
Exit: Trail the stop loss a few pips above the 15 EMA as the trade starts to profit.
Download Free Simple Trend Retracement Forex Trading Strategy
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