Euro / Australian DollarEducation
Trade Setup Rules for Long Entry
RULES
1. Price must be above 50 SMA (Green)
2. 9 EMA (blue) must be above 30 WMA (orange) and widening
3. Trigger candle (red) closes between 9 EMA (blue) and 30 WMA (orange)
4. Set a BUY STOP order above trigger candle.
5. Set STOP LOSS @ 2 X 14 ATR (blue dots) below trigger candle
6. TP1 = 1x RISK
7. When TP1 hits move stop to break even and trail up with ATR (blue dots)
7. TP2 = 2x RISK
1. Price must be above 50 SMA (Green)
2. 9 EMA (blue) must be above 30 WMA (orange) and widening
3. Trigger candle (red) closes between 9 EMA (blue) and 30 WMA (orange)
4. Set a BUY STOP order above trigger candle.
5. Set STOP LOSS @ 2 X 14 ATR (blue dots) below trigger candle
6. TP1 = 1x RISK
7. When TP1 hits move stop to break even and trail up with ATR (blue dots)
7. TP2 = 2x RISK
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