5,8, 15 chart setup

shadowninja said:

I could make one up(!).

Wait for the 5, 8 and 15 SMA to all be pointing in the right direction. Then wait for a retrace to the 5 SMA before buying in direction of the trend. That's the usual stuff.

Second part might be a retrace to the 8 or 15 SMA. It could be a WMA or EMA. The stop could be a hard 10/20/50/100 pips depending on the timeframe or it could be trailing at the 15 S/W/EMA. You've got a dozen combinations there - just make up a new one, allocate it to an fx pair, sell it for £150 as a system that means you only have to work 5 minutes a day. Bob's yer uncle.

Click to expand...