EURCAD is attempting to setup for our 3 step scalp MACD trade. Strategy details are listed below:
3 Step Scalp MACD
Bullish:
1) Look for a trend to develop to the upside in conjunction with a bullish MACD.
2) Wait for a close below the EMA in conjunction with a bullish MACD.
3) After a close back above the EMA in conjunction with a bullish MACD take a long position.
Bearish:
1) Look for a trend to develop to the downside in conjunction with a bearish MACD.
2) Wait for a close above the EMA in conjunction with a bearish MACD.
3) After a close back below the EMA in conjunction with a bearish MACD take a short position.
*Stops should be placed no more than the most recent swing high.
**MACD = Standard settings or 20,40,9 which should give you more trades.
***EMA = 9 period to the close.
****If MACD stops trending and/or the lines have touched any possible trade is null and void.
3 Step Scalp MACD
Bullish:
1) Look for a trend to develop to the upside in conjunction with a bullish MACD.
2) Wait for a close below the EMA in conjunction with a bullish MACD.
3) After a close back above the EMA in conjunction with a bullish MACD take a long position.
Bearish:
1) Look for a trend to develop to the downside in conjunction with a bearish MACD.
2) Wait for a close above the EMA in conjunction with a bearish MACD.
3) After a close back below the EMA in conjunction with a bearish MACD take a short position.
*Stops should be placed no more than the most recent swing high.
**MACD = Standard settings or 20,40,9 which should give you more trades.
***EMA = 9 period to the close.
****If MACD stops trending and/or the lines have touched any possible trade is null and void.