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Advanced Trendlines trading System
This strategy uses a EURUSD and GBPUSD pairs in a 1 minute and 5 minute timeframe. Indicators needed are listed below:
- 75 EMA (1min Chart),
- 50Ema (5min Chart)
- Advanced Trendline
Rules for Long Entry:
- The 50 exponential moving average is sloping up and the currency exchange price is trading above the 50EMA.
- Draw falling trend lines in the uptrend.
- Go long if the price breaks and closes above the falling trendline.
- Place your stop loss 3 pips below the breakout candlestick.
- Stop loss should not exceed 15 pips, minimum stop loss is 10 pips.
- Take profit at 8 pips for EURUSD and 10 pips for GBPUSD.
Rules for Short Entry:
- The 50 exponential moving average is sloping down and the currency exchange price is trading below the 50EMA.
- Draw rising trend lines in the downtrend.
- Go short if the price breaks and closes below the rising trend line.
- Place your stop loss 3 pips above the breakout candlestick.
- Stop loss should not exceed 15 pips, minimum stop loss is 10 pips.
- Take profit at 8 pips for EURUSD and 10 pips GBPUSD.
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