17:12Forex Signals on GBP / USD pair on 10/07/2014
Forex Signals on GBP / USD pair on 10/07/2014
Signal for a short position will be the breakdown on the basis of hours of support at 1.7113 (sell by date of publication of this article) to reduce to the support at 1.7095 in case of breakdown up to an hour 1.7077. Stoploss for this strategy can be placed at 1.7145.
Given that the moving average and the location of the boundaries of technical figures over time, moves 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 the correction. That level, which was the resistance should be strongly supported and it was near this level should open position in the direction of the breakdown.
Then, if the signal goes up, then I open a long position, and vice versa. Recommend that you use in Forex trading several currency pairs, this will help minimize the risks and form a "short-term" currency portfolio.
Open positions after the breakdown of these need me support or resistance levels up to an hour, that is, if the new hour started in the past and the price closed at least at one point above the level of the home, you can open a position in the direction of the breakdown.
The advantage of these strategies is also intraday use of moving averages (with period 55). If the price breaks the level of the moving average up to an hour, it is a strong signal to the opening position, reliable location stops minimize potential losses.
Price does not always reach the specified level of profit me, that there are lots of reasons why I recommend "taking 20 points", and then if the profit will grow gradually raise the stop to breakeven.
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