5M Intraday Trading Strategy

This strategy is originally posted by Philip Nell at Forex Factory. This has been tested for trading EUR/USD and GBP/USD. Though I know this strategy is great, i dont trade using this because i dont have time starring my monitor whole day:)

It's quite simple, what you need is 50SMA,21EMA and 10EMA attached on your 5M Chart. Open position when the angle of the 50 Simple moving average are greater than 20Degrees and the price retrace back into the zone of the 21 Exponential moving average and the 10 Exponential moving average. Set stoploss at 6 pips plus spread and profit taking at 8-10 pips. Move stoploss to breakeven as soon as 6 pips gain is obtained