17:22Forex Signals pair pound / dollar on 18/05/2015
|Forex Signals pair pound / dollar on 18/05/2015|
The pair GBP / USD on the hourly chart is trading within a downtrend. The course is located below the moving average with period 55 on the hourly chart, the level of 1.5690, thereby reducing prices.
The signal for the opening of the long position will sample up to an hour of resistance at 1.5731 in order to increase the resistance level at 1.5809 and in case of breakdown up to an hour to 1.5876. Stoploss for this strategy can be placed at 1.5640.
The signal for the opening short position will sample up to an hour of support at 1.5651 to decline to the support at 1.5555 in case of breakdown up to an hour 1.5464. Stoploss for this strategy can be placed at 1.5735.
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 to open positions 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 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. Most important is the entrance to the market, it depends almost 70% of success in Forex trading. I draw your attention to the fact that most of the signals (strategies) begins to work almost immediately (sometimes I'm just pointing out the direction in which to open a position).
Then, if a signal goes up, then I open a long position, and vice versa. I recommend that you use Forex trading multiple currency pairs, it will help to minimize the risks and to generate "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 level specified by me, you can open a position in the direction of the breakdown.
Thus, if the rate of 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 broke resistance and increased up to an hour more than 15 points, it is necessary to place a pending order to purchase a little higher level of support for 5-15 points.
The advantage of these intraday strategies is 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 to "take 20 points," and then if the profit will grow gradually raise the stop to breakeven.
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