Same Forex chart - 5 min trading

As I was writing my previous post I also spotted a perfect entry point.
I wrote earlier about 200 EMA and its importance for large time frames as well as for smaller time frames.



If you look at the screen shot you'll see that price came to test 200 EMA for the first time, and bounced upwards. Then it tested it again and broke below it. Now a downtrend on 5 min chart is unfolding. I set my downtrend trend line and waited for price to come and test 200 EMA from below. I've circled this point in yellow.

It is a perfect point to enter Short: I've got 200 EMA test + downtrend trend line test.

Happy Shorting :)

Forex 5 min charts trading

I've made a screen shot to support my previous posts about 5 min trading in Forex.
I am a trader who trades all kinds of charts including 5 min charts. And believe me, if you call them "noisy", I would tell you that there is as much noise as 1 hour charts and higher.



If a trader wants to trade Forex using small time frames, he will learn and do that with the same success as others trade hourly and daily charts.

Till next time,
good luck!