in this post, we will learn about 5 minute chart day trading strategy for quick trade decision on both sides buy and sell. This is a very simple and powerful strategy that depends on volume and trend.
This 5-minute trading strategy applies to any chart of any market forex, stocks, and commodities as well so apply and follow my rules and making good profits . you can also use these strategies as scalping as well.
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|powerful strategy for day trading
What is day trading?
Day trading means you trade on daily basis means you buy and sell stocks that are valid for the day only this is a risky trading concept so you need to aware of all things about day trading. In this, you got good leverage as well in most of the market you get 1:500 leverage means if you have less capital then you can also trade with good margin or capital but you need to be confident about your strategy your risk-reward ratio, and money management rule.
Indicators we can use in 5 min day trading strategy?
|200 ema||vwap||RSI 70-30
|Buy condition||Sell condition||Stoploss||Exit|
|candle must be above 200 ema||candle must be below 200 ema||just below vwap||you can use trendline also for exit|
|candle must be above vwap||candle must be below vwap||Trail your stoploss according to vwap||exit when candle must below vwap|
|Rsi should be above 50||Rsi should be below 50||don’t take SL as 200 ema||Use recent S/R also|
Pullback strategy in 5 min day trading setup ?
- in the above image you can check one green candle already closed above 200 exponential moving average and vwap but after some it came back again near vwap so you need to wai till that setup and RSI is also near 70 zone .
Perfect Entry Setup you need to follow in 5 minute chart day trading strategy?
- In this setup you need to wait for at least candle should be close above vwap and 200 ema then wait until pullback and look once for a RSI it is near about 70 that time you can take good entry and always follow this rule and your stoloss will be minimum and reward will be very high .
- In this setup you need to wait for at least candle should be close below vwap and 200 ema then wait until pullback and look once for a RSI it is near about 70 that is in overbought condition this time you can take good entry and always follow this rule and your stoloss will be minimum and reward will be very high .
Note :- This setup of 5 min day trading works good with stock, commodity, forex, cryptocurrency and scalping as well follow the strict rule and apply on 5 min chart please give your suggestion through comments.