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Long

EURCAD May Be Setting Up For A 3 Step Scalp MACD Trade

FX:EURCAD   Euro Fx/Canadian Dollar
EURCAD             is attempting to setup for our 3 step scalp MACD trade. Strategy details are listed below:

3 Step Scalp MACD

Bullish:
1) Look for a trend to develop to the upside in conjunction with a bullish MACD .
2) Wait for a close below the EMA in conjunction with a bullish MACD .
3) After a close back above the EMA in conjunction with a bullish MACD take a long position.

Bearish:
1) Look for a trend to develop to the downside in conjunction with a bearish MACD .
2) Wait for a close above the EMA in conjunction with a bearish MACD .
3) After a close back below the EMA in conjunction with a bearish MACD take a short position.


*Stops should be placed no more than the most recent swing high.
**MACD = Standard settings or 20,40,9 which should give you more trades.
***EMA = 9 period to the close.
****If MACD stops trending and/or the lines have touched any possible trade is null and void.
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