๐ฐ Unlocking a daily income of $100 is now possible with just a $10 investment, following the outlined steps and employing the 5-Minute Chart Trading strategy.
๐ To execute a successful long trade using the 5-Minute Momo strategy, adhere to these guidelines:
๐ Entry Conditions:
- Look for a currency pair trading below the 20-period EMA with MACD in negative territory.
- Wait for the price to cross above the 20-period EMA.
- Confirm that MACD is either transitioning from negative to positive or recently entered positive territory (within the last 25 minutes).
๐ฏ Entry Point:
- Initiate a long position 10 pips above the 20-period EMA.
โ Stop-Loss Placement:
- For an aggressive approach, set a stop at the swing low on the five-minute chart.
- For a more conservative strategy, position a stop 20 pips below the 20-period EMA.
๐ Profit Taking:
- Sell half of the position at the entry point plus the amount at risk.
๐ฆ Risk Management:
- Move the stop on the second half to breakeven.
๐ Trailing Stop:
- Trail the stop by breakeven or the 20-period EMA minus 15 pips, choosing the higher value.
- Tailor these guidelines to your risk tolerance and prevailing market conditions.
๐ค Best of luck with your trading journey!
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