This strategy looks at certain indicators to provide a strong basis for entry and exit points. Simple balanced strategy EMA (Exponential Moving Average) RSI (Relative Strength Index) and Stochastic Oscillator values to determine the best Forex trading strategies.
Technical Indicators: 5 EMA, 10 EMA, Stochastic Oscillator, RSI, Candlestick Chart
Long Strategy:Buy gold currency pair when the 5-period EMA rises above the 10-period EMA and Stochastic lines rises but is below 80.00 while RSI value is above 50 indicating that the asset is not in overbought condition.
Short Strategy: Sell gold currency pair when the 5-period EMA falls below the 10-period EMA and Stochastic lines falls but is above 20.00 while RSI value is below 50 indicating that the asset is not in oversold condition.