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Submitted by Edward Revy on May 13, 2007 – 15:40. Current strategy has won the hearts of many Forex traders. And why not when it has a great winning potential. Entry for uptrend: when the price is above 150 SMA look for RSI to plunge below 20.
30 – enter Long with a new price bar. If at least one of the conditions is not met – stay out. Opposite for downtrend: when the price is below 150 SMA wait for the RSI to go above 80. Then if shortly after you see a Stochastic lines crossover above 70 – enter Short. Option 2 – using a trailing stop – for an uptrend a trailing stop is activated for the first time when Stochastic reaches 70. A trailing stop is placed below the previous bar’s lowest price and is moved with each new price bar.