Forex strategy of the day

On the day interval (D1) using a simple moving average SMA indicator will determine the direction of the trend in the market, and on a 4-hour interval — will receive trading signals for transaction and exit from the market.

Indicators :

1) simple moving average SMA (3)

2) Indicator MACD (12,120,5)

2) indicator forex RSI (9)

If the closing price of yesterdays daily candle is above the moving average, then we will be in the range H4 consider only the trading signals for BUY. If the closing price of yesterdays daily candle is below the moving average SMA (3), then we will be in the range H4 consider only the trading signals on sale.

Once we determined what we are ready to conclude a deal on a reduced time scale H4 should consider the following factors:

1) signal from the indicator forex MACD — moving average crossovers.

2) direction indicator RSI — up or down.

3) is present whether the candle closed above or below average.

Yesterday the Japanese candle on the daily price chart closed below the MA (moving average), which means that today, according to the rules of the trading system to the 4-hour price chart to take into account the trading signals only on sale.

First trading signal comes from the forex MACD indicator. However, the closing price of the last candle on the range H4 is still higher than the MA, so we are waiting until the price goes below the SS. Third confirmation for the conclusion of the transaction will be the direction of the indicator RSI.

Stop-loss is set by the local minimum or maximum.

Closure of a trading position is in inverse signals Forex indicators. However, this often does not happen is not convenient, because the patched when trading on a time-frame at 4 oclock in the right time to close the trade position can occur only on the following trading day. Therefore easier to calculate take-profit, taking into account a close support and resistance levels, as well as for the Fibonacci extension.

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