Forex strategies revealed | FSR Forum

On the website the strategy is explained here. However i am confused on the take profit 10 and take profit 5.
http://forex-strategies-revealed.com/scalping/ema-bands



Buy Or Sell When the Group of Ema`s Yellow Breaks Ema 55
Take Benefit When Yellow Group Touches The Group Green.

If The Yellow group does Pull Back in Ema 55 or In Green Group Buy or sell again

Take Profit 10 Pip in Breaks Ema 55 And take Profit 5 pips In Pull Back

Can someone explain this to me.

Thank you

Hi,
Where exactly do you have difficulties? I'm not sure what to explain. Anyway, here we go:

Buy Or Sell When the Group of Ema`s Yellow Breaks Ema 55

When all yellow colored Moving averages cross the red EMA 55 - time to open a trade - Buy or Sell - depending on the direction of a cross.

Take Benefit When Yellow Group Touches The Group Green.

Take profit == close your trade, when the first yellow EMA touches the nearest Green EMA.

If The Yellow group does Pull Back in Ema 55 or In Green Group Buy or sell again

Every trend will have to pause and retrace sometimes, while trading with yellow Moving averages group, you'll see them pulling back towards the Green group or toward the red 55 EMA.
On those pullbacks you can open new trading positions in the direction of the main trend.

Take Profit 10 Pip in Breaks Ema 55 And take Profit 5 pips In Pull Back

That's your initial goals with entries on the pullback: with the pullback to 55 EMA - you aim for 10 pips; with other replacements to the Green group - take profit after +5 pips.

Regards,
Edward

Hi

What kind of time frame you recommend for "scalpin #6"
I'm testing it right now and let's take an example:
30min time frame shows downtrend (55ema stays abowe candles)
now in 1min time frame yellow and green lines crosssed, i'm waiting for yellow lines to cross ema55 and going short (green ones stays abowe 55ema). But price moves in my direction only 1 - 3 pips and then going long again. This happens all a time.
And looking back on charts i see that: when 30min 55ema is in downtrend, then smaller timeframe is taking more pips in opposite direction.

Last speaked english 8 years ago so i hope its readable.

Hmmmm one thing else.
I was looking same gbp/usd pair in new window and added ZIGZAG indicator and this shows that down zwing is formed and now it is moving uppward. Can it be useful indicator?

Zigzag would be useful for Support/Resistance levels more than for anything else.

I would use 5 min chart for the scalping system #6.

As for the trend direction, try using 55 EMA on 5 min to show you a trend, and then add 55 EMA to 1 hour chart to see a larger trend as well. You can then add 660EMA to 5 min chart, which will give you the same information as 55 EMA on 1 hour chart.

I have a question about adding 55 EMA, because there are several options under EMA settings in MT4, those are close, open, low, high etc.
Which one should I use for below strategy ?

http://forex-strategies-revealed.com/simple/55ema-trend#comment-22903