One to watch for a 3 Step Scalp MACD trade is USDCHF. We traded it nicely last nice from the short side and as you can see it came in more overnight. With the horrible wage growth reported from the U.S. the dollar could be in for some trouble throughout today. Don't be afraid to take a long scalp if the conditions present themselves, just be aware that sellers may have the upper hand on this Friday.
3 Step Scalp MACD trading strategy listed below:
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.
3 Step Scalp MACD trading strategy listed below:
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.