[A Buy Signal Anyone Can Understand] This is a trend-following day trade that even busy people with work or chores can take on without difficulty, recommended for part-time traders [Nobushi]

This article is a reprint and republication of FX攻略.com May 2019 issue articles. Please note that the market information described in the text may differ from the current market.

Nobushi Profile

A dentist and trader with 10 years of trading experience. He has been involved in trading since high school. His main methods are trend-following day trading and swing trading. In 2018, he also developed an original indicator. The theme of his life is travel × investment, and he is currently seeking trading partners.

Twitter：https://twitter.com/nobushi_fx/media

Strategy Points

• Technical: Cheltenham Channel (15), RSI (7), MACD (24,52,9)
• Trading timeframe: 1-hour chart
• Target currency pairs: GBPJPY, USDJPY, EURJPY
• Advantages of this strategy: clear exit, okay to leave after entry

Aim to Catch Trend Reversals with Cheltenham Channel + RSI + MACD

New

• Wait until the MACD histogram turns positive and the candlestick closes above the Cheltenham Channel moving average
• If price retraces to touch the moving average and RSI is 70% or below, enter

Exit

• Place a limit order at +20 to +30 pips from entry
• Place a stop order at the price area corresponding to the MACD histogram just before entry’s lowest price

Note: The “Strategy Points” and the text assume a long position in an uptrend. In a downtrend with short positions, the rules are reversed.