16:45Forex Signals on the euro / dollar on 07/11/2014
Forex Signals on the euro / dollar on 07/11/2014|
EUR / USD is trading on the hourly chart within a downtrend. It shows that the EUR / USD is trading below the moving average with period 55 on the hourly chart (level 1.2449), which has reduced prices in the short term.
The signal for the opening of the long position will sample the results of hours of resistance at 1.2406 in order to increase the resistance level at 1.2433 and in case of breakdown up to an hour to 1.2460. Stoploss for this strategy can be placed at 1.2360.
The signal for the opening short position will sample the results of hours of support at 1.2369 to decline to the support at 1.2341 and in case of breakdown up to an hour 1.2310. Stoploss for this strategy can be placed at 1.2410.
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.
Intraday trading is a very lucrative if properly build a trading strategy. Very important is the entrance to the market, it affects 70% of practical success in Forex trading. I draw your attention to the fact that most of the signals (strategies) begins to work almost immediately (sometimes I immediately point out in which direction the open position).
Then, if the signal goes up, then I open a long position, and vice versa. I recommend that you use a Forex trading multiple currency pairs, it will help minimize the risks and form a "short" currency portfolio.
Open positions must be specified after the breakdown of my support or resistance levels on the basis of hours, that is, if the new hour started in the past and the price closed at least at one point above the level specified by me, you can open a position in the direction of the breakdown.
In this case, if the rate on the basis of hours increased by more than 15 points, I recommend to put a pending order level, for example, if the load signal to buy and rate struck resistance and grew up to an hour for more than 15 items, you must set the pending to purchase a little above the level of support for 5-15 points.
The advantage of these intraday strategy is also the 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 open position, Proper location of stops to 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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