18:42Forex signals for a pair of pound / dollar on 24/07/2017
Forex signals for a pair of pound / dollar on 24/07/2017
A pair of pound / dollar on the hourly chart is traded within the uptrend. The rate is above the moving average with a period of 55 on the hourly chart, the level of 1.2990, which increases the price.
The signal for the opening of the long position will be the breakdown on the basis of hours of resistance at 1.3054 in order to increase the resistance at 1.3085 and in case of breakdown up to an hour to 1.3118. Stoploss for this strategy can be placed at 1.3010.
The signal for the opening of the short position will be the breakdown on the basis of hours of support at 1.2983 in order to reduce to the support at 1.2957 in the event of breakdown up to an hour of 1.2932. Stoploss for this strategy can be placed at 1.3025.
Considering that the moving average and the location of the boundaries of technical figures move over time, it is necessary to correct their position on the hourly chart. I also recommend opening positions on the basis of an hour to avoid false breakouts.
In the case of a strong movement with a breakthrough technical figure, I recommend waiting for the correction. The level that was resistance should become a strong support and it is precisely at this level that one should open a position in the direction of breakdown.
Intraday trading is a very profitable occupation, if competently to build a trading strategy. It is very important to enter the market, on this almost 70% of success in trading on Forex depends. I draw your attention to the fact that most signals (strategies) begin to work almost immediately (sometimes I immediately indicate in which direction to open the position).
Then, if the signal goes up, I open a long position, and vice versa. I recommend that you use several currency pairs in Forex trading, this will help minimize risks, and form a "short-term" foreign exchange portfolio.
It is necessary to open positions after the breakdown of the support or resistance levels indicated by me at the end of the hour, that is, if the new hour has started and the price in the outgoing closed at least one point above the level indicated by me, then you can open the position in the direction of breakdown.
At the same time, if the rate has increased by more than 15 points by the end of the hour, I recommend setting a pending order at the level, for example, if the buy signal was triggered and the exchange rate broke through and increased by more than 15 points, it is necessary to put a pending order To buy just above the support level by 5-15 points.
The advantage of these intraday strategies is also the use of moving averages (with a period of 55). If the price breaks the level of the moving average by the end of the hour, this is a strong signal to open the position, the correct placement of stops minimizes the possible loss.
The price does not always reach the level of profit indicated by me, there are many reasons for that, so I recommend "taking 20 points", and then if the profit grows, gradually raise the stop to the break-even level.
Alexey Sedyshev, portal "Forex Analytics" - signals, forecasts
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