17:06Forex Signals on the pair GBP / USD on 11/05/2014
Forex Signals on the pair GBP / USD on 11/05/2014 |
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 1.5983, thereby reducing prices.
The signal for the opening of the long position will sample the results of hours of resistance at 1.5932 in order to increase the resistance level at 1.5956 and in case of breakdown up to an hour to 1.5983. Stoploss for this strategy can be placed at 1.5900.
The signal for the opening short position will sample the results of hours of support at 1.5910 to decline to the support at 1.5887 in the case of breakdown up to an hour 1.5864. Stoploss for this strategy can be placed at 1.5940.
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.
Alexei Syedyshev, portal "Forex Analysis" - signals, forecasts
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