Hi Vinoth,
You do positional trades in crude oil with M30 charts following trend reversal method. Using the same method I want to do intraday trade wiht M5 charts. As am a part time trader do trade only in the evening. It is sufficient if I get 10 points per lot. Entering trade at correct reversal signal. Exiting after reaching 10 points. Is it possible to achieve?
I used the same with 5 minutes chart to get 10 points every day. but it is not working.
In five minutes, all AFL will show the buy signal at higher levels and sell signal at lower levels. It is very dangerous to trade with 5 minutes chart.
To get 10 points every day, Follow some moving average cross over techniques with MACD comparison. you can get 10 points easily.
5 EMA and 25 EMA, or 3 EMA and 15 EMA is good for getting 10 points with 15 minutes chart.
Buy on the cross over.. and stop loss is previous candle low. it works for intraday most of the time if you follow strictly.
But trade the crossover in the evening session only. dont trade this technique in the morning session