Forex & Stocks Intra-Day 50MA Support Resistance Trading Strategy

Forex & Stocks Intra-Day 50MA Support Resistance Trading Strategy. The Moving Average Strategy Setup. Starting with a clean chart with nothing but candlesticks, support-resistance, and lay out the 50 Simple Moving Average, or SMA. Believe it or not, we are ready to go!

 

Let’s also talk about another extremely crucial filter: (Horizontal support and resistance levels!)

I am excited every time I see price pulling back to the 50 MA following a strong move, but my fingers will not roll over the order button until I find the point where price touches the 50 MA is lying in confluence with a horizontal former support and resistance level. I have found this to be an amazing filter. Sure I miss a few trains, but the ones I take, I sure as hell enjoy the rides – well mostly!

• Download “ForexWOT-IntraDay50MASupportResistance” (Zip/RAR File).
• Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
• Copy the “ForexWOT-IntraDay50MASupportResistance.tpl” file (template) to your Metatrader Directory …/templates /
• Start or restart your Metatrader Client.
• Select Chart and Timeframe where you want to test your forex system.
• Right-click on your trading chart and hover on “Template”.
• Move right to select “ForexWOT-IntraDay50MASupportResistance” trading system and strategy.
• You will see the “Intra-Day 50MA Support and Resistance” trading system is available on your Chart.

 

• Price above the 50 SMA.
• Wait for a bar that closes higher than open.

 

•  The the mid-band is below the 50 SMA.
• Wait for a bar that closes lower than open.

 

How do you apply this “wonderful strategy” to your trading without risking your trading capital? Don’t forget, always start with a demo account. It is the best way to learn a new trading strategy without losing money.