Sharing one of the most productive strategy I am using for my intraday trading.
THE SETUP
Trend setup: Plotting 2 EMAs/MAs on the price and see the lower MA is above higher MA for uptrend and below higher MA for downtrend. I use 21/62 (one month / three months) EMAs for my setup.
Establish clear Trend: Lower MA is below (down) or above (up) higher MA and advancing by maintaining a considerable distance in same direction.
Find Opposite Trends: Observe price. You will see that price tends to bounce off the MAs. Try finding small opposite trend and draw trend lines (red lines).
TRADE the SETUP
Trade break of trend lines with STRICT STOPLOSS at break and close above last swing top/bottoms (blue lines).
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Down Trend established
Trade break and close of redlines with strict S/L at break and close above blue line.
Up Trend established
Trade break and close of redlines with strict S/L at break and close below blue line.