Three Working 5-Minute Trading Strategies
Below you will find three effective scalping strategies for a 5-minute chart:
1. Momo Strategy. Momo is a momentum reversal strategy. The idea is to define strong momentum on a price chart that would support the reversal and a price explosion. If you look for a 5-minute Forex scalping strategy on the Internet, it’s likely this will be the first one you will find.
2. EMA and RSI. The exponential moving average is a beloved indicator for 5-minute trades. Still, on Forex, a 5 min scalping strategy may include other tools to either confirm signals or find new ones. For this trading approach, we will add the RSI indicator. Its main purpose is to identify overbought and oversold conditions.
3. EMA, MACD, and Bollinger Bands. This is another 5 min trading strategy. It involves EMA, MACD, and Bollinger Bands.
There is no perfect 5 min Forex trading system. It’s vital to evaluate current market conditions when setting entry and exit points.
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