Timeframe I’m using 5 minutes for this but can’t post in this lower timeframe, but I recently found an example where the rules are aligned on a 15 meter timeframe.
Step 1 – 2x MTF EMA (one set on 60min with 50EMA and the other on 15min with 50EMA) The 15min must be over the 60min for a LONG
Step 2 – Look for lower lows on the chart
Step 3 – MACD make a higher low below the ZERO line that coincides with the lower lows of the chart. The line should not cross the zero line between these two points
Step 4 – Check Stoch RSI to at least 1 MR Time frame (view between 0-20) and uptrend
Step 5 – Turn upside down on the first green candle (circled) MACD is the shopping area. In this example it is about to break the downtrend line. It is also possible to wait for a line break and buy when you try again.
Step 6 – Put SL below the support line by no more than 2%. Set profit target – usually 3: 1 R: R. to take
Step 7 – Sit back and watch these lovely green candles climb!
Can easily get stuck on charts in the lower timeframes so make sure you are always ZOOMED to 1 hour / 4 hours for a better overall picture. A simple gap analysis can help confirm the next general direction
It took me a month of gambling winners and losers to find these golden rules.
Don’t forget the Bolinger tapes! great for 1% snipe 🙂
Much luck
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