n 5 candles. (The first situation
was go long on positive turn). Your stop loss is at the high point of
the first candle breaking through the EMA and SMA. (In the first, it
was at a low point). You will also exit half of your position with the
other half set for a trailing stop at +15 pips on the EMA. Again, this
forex trading strategy should be in your favour when you can closely
monitor the charts.
There are other strategies for short-term forex transactions, of
course. Two examples are the use of 2 charts, namely, the hourly and
the 10-minute charts as well as the 200-bar MA. You can also explore
these options but we recommend trying the momentum trading strategy
first.