The pair GBP / USD on the hourly chart is trading within a downtrend. Rate is below the moving average with period 55 on the hourly chart, the level of 1.2282, thereby reducing prices. The signal for the opening of the long position will sample up to an hour of resistance at 1.2247 in order to increase the resistance level at 1.2276 and in case of breakdown up to an hour to 1.2301. Stoploss for this strategy can be placed at 1.2210. The signal for the opening short position will sample up to an hour of support at 1.2213 to decline to the support at 1.2185 in case of breakdown up to an hour 1.2156. Stoploss for this strategy can be placed at 1.2255.
Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend the open position up to an hour to avoid false breakouts.
In the case of a strong movement in the breakout technical figures, I recommend to wait for correction. The level, which was the resistance should be strongly supported and it was near this level should open position in the direction of the breakdown.
Intraday trading is a very profitable business, if properly build a trading strategy. Very important is the entrance to the market, it affects almost 70% of success in Forex trading. I draw your attention to the fact that most of the signal (strategies) begins to work almost immediately (sometimes I just point out to open a position in any direction).
Then, if the signal goes up, then I open a long position, and vice versa. I recommend you to use in Forex trading several currency pairs, it will help minimize the risks and to generate "short" currency portfolio.
Open positions must be specified after the break me support or resistance levels on the basis of hours, ie when a new hour started and the price in the past closed at least at one point above this level I, it is possible to open a position in the direction of the breakdown.
In this case, if the exchange rate on the basis of hours increased by more than 15 points, I recommend to put a pending order at the level of, for example, if the load signal for the purchase and exchange rate broke through resistance and grown up to an hour more than 15 points, it is necessary to place a pending order to buy just above the support level of 5-15 points.
the use of moving averages (the period 55) intraday advantage of these strategies is well. If the price breaks the level of the moving average up to an hour, it is a strong signal to the opening position, good location stops minimize possible loss.
Price does not always reach a specified level of profit me, that there are lots of reasons why I recommend to "take 20 points," and then if the profit will grow gradually raise the stop to breakeven.
Alex Syedyshev, portal "Forex Analytics" - signals, forecasts