Forex trading strategy #20 (Trading MACD consolidation)
Current Forex strategy was submitted by Egudu - our valued contributor.
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I am egudu, and here's another strategy.
It's trading the MACD consolidation.
Time frame: 1hr
currency: any
indicator: MACD(12,26,9)
Entry: place a buy stop and a sell stop 5pips during the MACD consolidation with a stop loss of 10pips from entry and a profit target of 30-50pips.
Please note that, the MACD must be very close, in fact it should almost become a straight line only then should you enter the positions. l hope to give a picture shot of it soon, but u can check the chart of GBP on the 7th, 10th, 14th of Dec 2007 on the hourly chart.
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