As I told you before, we use EMA and MACD technical indicator to determine buy and sell levels. And here are the indicator settings.
EMA 55
MACD Moving Average Convergence Divergence (4,9,6)
Trading rules
To determine the major bearish trend we use 1 hour time frame chart, we wait the market price close below the Exponential Moving average indicator EMA. And this candle should be a bearish candlestick. And for MACD indicator, we make sure the MACD histogram is in negative divergence or show a lower high MACD histogram.
After all of these rules confirmed we switch to 5 minutes chart time frame to open trading position. Find retracement using fibonacci on 1 hour time frame chart. You can open sell trading position when candlestick traded at 50% retracement. Put stop loss at 0% fibonacci retracement.
To determine the major trend we use 1 hour time frame, we wait the market price close above the Exponential Moving Average Indicator EMA. And this candle should be a bullish candlestick. And for MACD indicator, we make sure the MACD histogram is in positive divergence or show a higher low MACD histogram.
After all of these rules confirmed we switch to 5 minutes chart time frame to open trading position. Find retracement using fibonacci on 1 hour time frame chart. You can open buy trading position when candlestick traded at 50% retracement. Put stop loss at 0% fibonacci retracement.
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