Forex trading strategy using three different time frames

www.bestforextradingcenter.com for simple forex trading strategies, that can help you improve your trading results. This forex trading strategy is just one of many forex trading strategies out there. For six powerful strategies, that can change your world around see: http://www.bestforextradingcenter.com/day-trading-strategies.html This strategy is based on 3 diffferent time frames. The hourly time frame, the 15 minute time frame and the 5 minute time frame. Patience is what will change your results. Sometimes being out of trades will be your best decision as a day trader. This day trading strategy is as follows: Must have a mindset of success and not be afraid to place your trades and close them as the signals occur. Simple rules: On all three charts plot the 8 and 13 moving averages. When you open your chart first you look at the hourly chart to see how price is trading in relation to the two moving averages. Look back about 5 days on the left of your chart to plot some support and resistance. These are all visual on your chart. The go to the 15 minute chart. If price is trading on the 15 minute on the same side of the moving averages as on the hourly chart, then go down to the 5 minute chart to look for your entry. Remember this is a day trade strategy to help you pocket 20 pips a day . Look on your 5 minute chart to enter your trade. If the price is trading in the opposite direction of the moving averages, then you know this is a minor pull back and immediately candles close below the moving averages on the 5 minute chart its time to go short. The opposite should occur to go long. Price must be trading above moving averages on the 15 minute and 1 hour chart to go long from the 5 minute chart. The 20 pips usually possible within 1 hour.

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