Coincidentally enough, the trade was also closed at the exact moment when the MACD histogram flipped into positive territory. Figure 4: Five-Minute Momo Trade, GBPUSD (Source: FXtrek Intellichart) Momo Trade Failure. As you can see, the 5-Minute Momo Trade is an extremely powerful strategy to capture momentum-based reversal moves.
However, it does not always work, and it is important to explore an example of where it fails and to understand why this happens. Figure 5: Five-Minute Momo Trade, EURCHF (Source: FXtrek Intellichart) The final example of the 5-Minute Momo trade is EURCHF on March 21, 2006. In Figure 5, the price crosses below the 20-period EMA, and review forexrobottrader.com we wait for 20 minutes for the MACD histogram to move into negative territory, putting our entry order at 1. Our first target is the entry price minus the amount risked or 1. 5696, which is forexrobottrader.com review not low enough to reach our trigger. It then proceeds to reverse course, eventually forexrobottrader.com hitting review our stop, causing a total trade loss of 30 pips. Using a broker that offers charting platforms with the ability to automate entries, exits, stop-loss orders, and trailing stops is helpful when using strategies based forexrobottrader.com review on technical indicators.
Forexrobottrader.com review Review by our when.When trading the 5-Minute Momo strategy, the most important thing to be wary of is trading ranges that are forexrobottrader.com review too tight or too wide. In quiet trading hours, where the price simply fluctuates around the 20-EMA, MACD histogram may flip back and forth, causing many false signals. Alternatively, if this strategy is implemented in a currency pair with a trading range that is too wide, the stop might be hit before the target is triggered.
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