I remember an easy technique for beginners. I shared it.
And I thought it would be better to share it with all of you.
This method involves using a technical indicator called Exponential Moving Average (EMA), to use it, you have to use this indicator twice, set the value of the first indicator to 9 and add another indicator to the chart and set its value to 18, as I did in my chart.
Now here is the general rule
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- As long as the 9 line (green line in the chart) remains above 18 (red line in the chart), go for buy positions.
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- As long as line 9 remains below 18, go for sell positions
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- If the distance between the two lines starts to converge, exit the trade
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- If you are greedy and want to wait, the last exit point is the point of intersection of the two lines with each other.
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If you are a beginner and don't know what to do, this might be a good start for you. Use it on a 15M chart for more accuracy.
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