Hakeems Forex Intraday Method is a forex trading system. It actually is a scalping system. The Hakeems Forex Intraday Method uses very popular technical indicators to generate the trading signals. This system is best when used on the 30-minute time frame. You can use any currency pairs to trade with this forex trading system. Since you are going to trade on 30-minute time frame, your positions might last longer than other ordinary scalping trades. You are actually swing trading rather than scalping when placing entries based on Hakeems Forex Intraday Method. The simplicity of this system gives an edge to the trading. The signals are easy to identify. Therefore, even the newbie traders can use this forex trading system to generate substantial amount of wealth.
There are four technical indicators used in the Hakeems Forex Intraday Method. Two of them are moving averages which you can see at the main chart and two of them are at the indicator window. When the Hakeems Forex Intraday Method is correctly set up on your trading platform, your chart should look like this:
- Exponential Moving Averages
The Exponential Moving Average is a type of moving average which gives more weight to the recent data. There are two moving averages used in this system. The blue one is a exponential moving average applied to close, period 5. Another one is an exponential moving average applied to open, period 6, and is red.
The MACD is one of the most popular technical indicators. It consists of histogram and a moving average. The crossovers of the histogram and the moving average generate the trading signal. You should buy when the histogram crosses above the moving average and vice versa.
The RSI indicator with the mid line at 50 is used in this indicator. The idea is to buy when the RSI is above the level of 50 and vice versa.
Buying Conditions Using Hakeems Forex Intraday Method.
- Market level should be above the 5 EMA and 6 EMA.
- The histogram of the MACD should cross above the red oscillator.
- The RSI should be above the level of 50.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the blue oscillator crosses below the red oscillator.
Selling Conditions Using Hakeems Forex Intraday Method.
- Market level should be below the 5 EMA and 6 EMA.
- The histogram of the MACD should cross below the red oscillator.
- The RSI should be below the level of 50.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the blue oscillator crosses above the red oscillator.