17:49Forex Signals pair pound / dollar on 11/24/2014
Forex Signals pair pound / dollar on 11/24/2014
The pair GBP / USD on the hourly chart is trading within the uptrend. Rate is above the moving average with period 55 on the hourly chart, the level of 1.5673, thereby increasing prices.
The signal for the opening short position will sample up to an hour of support at 1.5664 to reduce the level of support at 1.5634 in case of breakdown up to an hour 1.5616. Stoploss for this strategy can be placed at 1.5705.
Given that the moving average and the location of 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 heavy traffic at the break of 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 very lucrative, if competently to 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 signals (strategies) begins to work almost immediately (sometimes I just point out in what direction to open the 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 break 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 specified level of me, you can open a position in the direction of the breakdown.
In this case, if the rate up to an hour grew by more than 15 points, I recommend to put a pending order at the level of, for example, if you load a buy signal and a course struck resistance and increased up to an hour more than 15 points, it is necessary to set the pending to buy just above the support level at 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 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 "take 20 points," and then if the profit will grow gradually raise the stop to breakeven.
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