Lazy and Safe - forex trading times est

Lazy and Safe ~ forex trading times est

I call this most basic advanced strategy “Lazy and Safe!” Its best done in the 10, 15 or 30 minute time frame.

SET UP YOUR CHARTS:

1. Open a EUR/USD candlestick chart with a white background.

2. Add a moving average of 7 Exponential, Close. Change the color of the line to black.

3. Add your Bollinger Band and make the middle line 18 Exponential, Close, color red.

4. Add another moving average of 50 Exponential, Close, any color.

5. Add your Chaos Awesome Oscillator (or Macd Histogram), then theMomentum indicator, and then the Stochastic RSI Oscillator (or the RSI and the Slow Stochastic set at 14,5,5).

6. Optional: The Support and Resistance Indicator

Heres the strategy:

Going LONG:

Enter a long position when the black 7 EMA has crossed up through the red 18

EMA. At the same time, the Chaos and Momentum indicators should be

approaching or crossing their zero line, going up. The StochRSI should be

coming up from the bottom heading up towards its 50 line.

Going SHORT:

Enter a short position when the black 7 EMA has crossed down through the red

18 EMA. At the same time, the Chaos and Momentum indicators should be

approaching or crossing their zero line, going down. The StochRSI should be

coming down from the top heading down towards its 50 line.

When to take your profit:

Simple...when your Chaos Awesome Oscillator turns a different color!

Heres a screenshot of “Lazy and Safe!” in the 10 minute chart

Notice how the ema crossovers at the top co-incide with the Chaos and Momentum and StochRSI at the bottom. However, in the first long position at 18:10, the StochRSI is in an extended overbought condition which signifies a very strong bullish trend.

The round circles at the top are the exact entry points when the 7 ema crosses the 18 ema. The ovals at the bottom are the exit points when the

Chaos turns color.

Notice that the short period between the 1st long entry and the next short entry is labeled a“whipsaw, stay out”. The Bollinger Bands are narrow indicating a time of consolidation and potential breakout or breakdown. The Chaos and Momentum are flat on their zero lines, there is no volatility.

The moving averages are very close together also...you need space between them for the bigger moves. Do not enter a position during these conditions, youll only lose money. Wait for the breakout or breakdown.

Lazy and Safe Scalping Strategy

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