Monthly Profit – Daily Trading using SMA
I don’t why this strategy has this name but it is base on the Daily Time Frame and simply uses 2 indicators placed on the chart.
- 5 Simple Moving Average (SMA)
- Bollinger Bands, optional
Forex Factory Forum Thread started by user BK8
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This strategy is simple to use and the forum thread has been going since 2016. There are a number of people still using the strategy and it does work quite well.
I have used it and still take a look at the Day chart with the 5 SMA and take note of the strength of the cross over.
On the first page there is a good image by another trader that uses the CCI Custom Candle Indicator with the Half Trend Indicator. The chart looks nice and clean and quite easy to identify possible trades.
All the indicators needed are within the posts but if you can’t find them just let me know as I will most likely have them.
There are a number of reliable consistent posters that help traders with set-ups.
A good strategy when understanding how to use price action to identify a possible movement in the market. Worthy of following.