200 Pips Daily Chart Forex Trading Strategy With 3 EMAs

This 200 pips daily chart forex trading strategy is a very simple forex trading strategy for beginners. If you are a trader looking for a trading system that requires you to check your chart once a day, then this is it.

Check Out My: Free Price Action Trading Course

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SETTING UP YOUR CHARTS

Ok, lets get started, you need the following on your trading chart:

Indicators: 25 EMA, 60 EMA, 100 EMA, Robby DSS Forex download here: Robby DSS Bressert ColoredM
Time frame: Daily Chart
Currency pairs: Majors and GBP/JPY

 

200 PIPS DAILY CHART FOREX TRADING STRATEGY WITH 3 EMA TRADING RULES

Buying  Rules:

  1. 25 EMA above 60 EMA and 100 EMA.
  2. 60 EMA above 100 EMA.
  3. Wait for the Robby DSS Forex oscillator to turn back above 20 from below.
  4. Wait for first Robby DSS blue dot.
  5. Buy the currency pair at the open of the next candlestick.
  6. Place stop loss below the most recent swing low or 125 pips below entry (whatever comes first).
  7. Profit target: 200 pips
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Here is an example of the daily chart of GBP/USD. As you can see, 3 buy trades made us 600 pips. Click the chart to enlarge if its small.

200 Pips Daily Chart Forex Trading Strategy

Image source: dolphintrader.com

Selling Rules:

  1. 25 EMA below 60 EMA and 100 EMA.
  2. 60 EMA below 100 EMA.
  3. Wait for the Robby DSS Forex oscillator to turn back below 80 from above.
  4. Wait for first Robby DSS red dot.
  5. Short the currency pair at the open of the next candlestick.
  6. Place stop loss above the most recent swing high or 125 pips above entry price (whatever comes first).
  7. Profit target: 200 pips

ADVANTAGES OF 200 PIPS DAILY CHART FOREX TRADING STRATEGY WITH 3 EMAS

  • A very simple trading system requires very little maintenance.
  • You only need to check your charts once a day to see if the trading setup condition is being met or not.
  • which means less trading so the risk of overtrading is drastically reduced.

DISADVANTAGES OF 200 PIPS DAILY CHART FOREX TRADING STRATEGY WITH 3 EMAS

  • in a non trending market, you’d have false signals so expect that.

“Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.” – Dave Ramsey

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One Response

  1. Hassan Shahzad 6 months ago