You can take advantage of the 60-minute time frame in this Forex strategy. The most suitable currency pairs to trade using this Forex strategy are the EUR/USD, USD/JPY, GBP/USD, and the AUD/USD. In regards to the Forex trading strategies resources used for this type of strategy, the MACD is the most suitable which is available on both MetaTrader 4 and MetaTrader 5.
Buy Trade Rules:
You can enter a long position when the MACD histogram goes above the zero line. The stop loss could be placed at a recent swing low.
Sell Trade Rules:
You can enter a short position when the MACD histogram goes below the zero line. The stop loss could be placed at a recent swing high.
Below is an hourly chart of the AUDUSD. The red lines represent scenarios where the MACD histogram has gone above and below the zero line
Buy Trade Rules:
You can enter a long position when the MACD histogram goes above the zero line. The stop loss could be placed at a recent swing low.
Sell Trade Rules:
You can enter a short position when the MACD histogram goes below the zero line. The stop loss could be placed at a recent swing high.
Below is an hourly chart of the AUDUSD. The red lines represent scenarios where the MACD histogram has gone above and below the zero line
