DAY TRADE SETUP
Summary:
How to Enter the Market
For Buy Trades
- MACD: Should be above the 00 line.
- RSI: Must be below the 70 line or above the 30 line.
- Candle: Must close above the EMA area.
- EMA Visibility: Red or blue EMA must be clear and not covered by other EMAs.
For Sell Trades
- MACD: Should be below the 00 line.
- RSI: Must be above the 30 line or below the 70 line.
- Candle: Must close below the EMA area.
- EMA Visibility: Red or blue EMA must be clear and not covered by other EMAs.
Setting Stop Loss
- Placement: The stop loss should be set at the last turning point.
- Maximum: Ensure the stop loss is within 201 pips on the daily chart.
How to Exit the Market
Take Profit
- Ratio: Set the take profit at a 1:3 or 1:2 ratio. For example, if your stop loss is 150 pips, set the take profit at 300 pips for a 1:2 ratio.
Alternative Exit
- EMA Area: Close the trade when the candle closes inside the EMA area.
By following these entry and exit rules, you can strategically manage your trades and optimize your profit potential while minimizing risks.