Quick fix forex is a trading system that was originally developed to trade in the foreign exchange or forex market. Like the name suggests, it is a quick method to make money by trading in the forex market. It is quick because using Quick Fix Forex system you can analyze the chart very quickly. The charts are very simple and don’t use any complicated and advanced technical tools. It just has three exponential moving averages. Always keep in mind that when you trade with moving averages you are going to trade in a trending market. Moving averages sucks in a sideways or flat market. Moving averages are one of the most effective and powerful tools ever invented in the field of technical analysis, yet it is underestimated by the traders. There is no just one right way to use moving averages. It can be used to find out the trend of the market, support resistance in the market, and can even use to figure out the exact pin point for buying or selling.
When the Quick Fix Forex is correctly installed on your trading platform your trading chart will look like this:
- Exponential Moving Average (EMA)
Exponential moving average is also a type of moving average which gives more emphasis on the recent data. The formula used for calculating the exponential moving average is different from the formula used for calculating the simple moving averages. Both the simple moving averages and the exponential moving averages are equally popular among the foreign exchange traders. There have been lots of trading strategies or systems which are based upon the moving averages and the concepts of moving averages. Well, let’s talk about the three moving averages that are used in this trading system.
- EMA 50 applied to high
This is an exponential moving average which is applied to high price. It means that the high prices are used for generating this moving average.
- EMA 50 applied to low
This is an exponential moving average which is applied to low price. It means that the low prices are used for generating this moving average.
- EMA 15 applied to close
This is an exponential moving average which is applied to closing price. The closing prices are used to develop this moving average.
Buying Conditions Using Quick Fix Forex System.
- 15 EMA (purple color exponential moving average) should cross above all the moving averages.
- Buy as soon as the above condition is met.
- Place your stop just below the recent swing low.
- Take profits when the 15 EMA falls to touch the 50 EMA.
Selling Conditions Using Quick Fix Forex System.
- 15 EMA (purple color exponential moving average) should cross below all the moving averages.
- sell as soon as the above condition is met.
- Place your stop just above the recent swing high.
- Take profits when the 15 EMA rises to touch the 50 EMA.
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