Day trade EMA strategy is also great Forex trading strategy for day traders. The trading utilizes simple candlestick charts to determine the trading strategy. EMAs are lagging indicators that are especially helpful when the market is trending during big price swings.
Technical Indicators: 5 EMA, 12 EMA, RSI, 1-day candlestick chart
Long Strategy:Buy gold currency pair when the 5-period EMA rises above the 12-period with RSI below 50.
Short Strategy: Sell gold currency pair when the 5-period EMA falls below the 12-period with RSI above 50.