For day traders, the foreign exchange market is very attractive, and it’s because there is high volatility. That said, there is a need to understand the 30-minute Forex trading strategy growing in popularity. So here are some of the points you need to know when it comes to the 30-minute Forex trading strategy.
- Indicators alongside the chart setup
The indicators that are used in the trading strategy works in the form of the master MACD indicator. That said, there are the exponential moving averages alongside the CCI indicator. In addition to that, the chart setup also comes with the availability of the two exponential moving averages alongside the master trend indicator. There is also the part of the standard CCI. The trade sets up in any session and is part of the choice. However, there are also preferred time frames with the one minute 5 minutes, 15 minutes, 30 minutes, or the one hour.
- Understanding the trading rules
You can only just go ahead with trading whenever the ATR indicator line is above the limit of 14 EMA lines. As soon as The Line Goes below this limit, then it means that there is less market movement, and you don’t want to go ahead with trading during that time. The purpose, in this case, is to give the high and low limits. You can just go ahead with taking the Breakout trades following the buying rules. Always know that you are taking into consideration the limit that is above 14 EMA. Ensure that you have a good idea regarding the fractals indicator. In addition to that, the high limit is marked by the trade row, and also just goes ahead with placing buy stop 1-2pips above the high of the profit. Target should always be better than the limit that is two or three times the amount you had for the trade.
- Consideration of the signals that you should take into consideration
When it comes to the profits or exiting the buy trade, always ensure that the EMA line is crossing 14 EMA but is within the 21 EMA limit. Also, take profit signals whenever the master MACD histogram falls below the 0.00 level. Once you see that the blue line of the CCI indicator is breaking below the 0.00 level, you will have to mandatorily exit the trade.
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- Selling Trade Entry Rules
You can consider entering with a “sell” position whenever one of the following conditions obtain:
• 14 EMA (violet) crosses below the 21 EMA (blue)
• Blue line of the CCI breaking below the 0.00 level
• Placing your stop loss above the short-term resistance area
• Histogram of the Master MACD Indicator breaking below the 0.00 level
- Taking Profits with a Sell Entry
Take profits will be favorable when you have one of the following circumstances:
• EMAs crossing in the opposite direction of a sell signal limit that 14 EMA goes above 21 EMA.
• Histogram of the Master MACD going above the 0.00 level
• blue line of the CCI Indicator breaking above the 0.00 level
Where is the involvement of the different kinds of fees?
When it comes to the platform for trading, it comes inclusive of the deposit fees transaction and the commission fees, currency, conversion fees, spread costs, as well as overnight funding. The deposit fees are not at all a trouble because it does not charge you with the deposit fees. The payment provider will be charged the transaction fee.
So it’s worth checking in advance. In case you are depositing over $2500, then it will be reimbursing you for the transaction external transaction fees. You will get the opportunity to pay using your credit card, Neteller, wire transfer, skrill, Paypal, similar other transfers, and other portals. The transaction and the commission fees are also 0. However, it should be noted that there is a commonplace whenever it comes among the brokers.
Understanding the different metrics associated with the Forex trading platform is essential when it comes to trading. Also, there is an importance of the above-mentioned 30 min Forex trading strategy that can keep you on the safe side.