Day traders are attracted to the foreign exchange market because of its high volatility and by the fact that the Forex market is constantly in operation from Monday to Friday. This means that profits may be made at literally any point in time even while local trading sessions may have ended. Because the forex market is global in scope, trading may take place at any time since there is always at least one session that is open. With that being said, here is a 30-minute MACD Forex trading strategy that you may want to try for yourself.
Indicators and Chart Setup
The indicators that will be used in this trading strategy are the Master MACD indicator, the Exponential Moving Averages, and the CCI indicator. The chart setup for this trade is as follows:
This trade may be set up in any session using the currency pair of your choice. However, the preferred time frames are 1-minute, 5-minute, 15-minute, 30-minute or 1-hour time frame.
Buy Trade Entry Rules
You should place a trade if any of the following scenarios occur:
The image above shows a visual representation of what your chart is likely to look like for a great buy entry.
Signals that you should take profits or exit a buy trade:
Sell Trade Entry Rules
Enter with a “sell” position if any of the following conditions obtain:
When to Take Profits with a Sell Entry
Take profits under these circumstances:
Here is an illustration of a sell entry trade:
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