Awesome with Bollinger Bands Scalping ~ forex trading hours in philippines
Awesome with Bollinger Bands scalping is a trend momentum intraday system very simple but effective. Trading hours are London and New Yor Sessions.
This trading system work only in volatile market.
1 step choose the currencies where trading
Open charts on four hours or daily and identify two or three currency pairs that are breakout. Apply the ADX on these currencies, the value ADX must have a value greater than 25.
After go on 5 min chart or 1 min chart for trading.
Setup for intraday trading
5 min time frame or 1 min
Currency pairs with low spread (recommended ECN markets).
Indicators:
Bollinger Bands (20, 2),
Awesome,
Exponential Moving Average 3 period, close.
Trading Rules
Buy
EMA 3 period crosses upward the middle band of the BB and Awesome oscillator be approaching or crossing its zero level, upward .
Sell
EMA 3 period crosses downward the middle band of the BB and Awesome oscillator be approaching or crossing its zero level, downward.
Exit position:
1, When Awesome Oscillator turns a different color or with predetermined small profit target;
2. Initial stop loss below/above the upper/lower band.
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