18:24Forex trading signals for the euro / dollar on 05/08/2014
Forex trading signals for the euro / dollar on 05/08/2014 |
The euro / dollar 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 1.3419), 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 1.3392 in order to increase the resistance level at 1.3413 and in case of breakdown up to an hour to 1.3436. Stoploss for this strategy can be placed at 1.3360.
Signal for a short position will sample the results of hours of support at 1.3392 (sell by date of publication of this article) to reduce to the support at 1.3373 and in case of breakdown up to an hour 1.3353. Stoploss for this strategy can be placed at 1.3420.
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 profitable business, if competently to build a trading strategy. Very important input in 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'm just pointing out the direction in which to open a position).
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 to minimize the risks, and to form a "short-term" currency portfolio.
Open positions must be specified after the breakdown of my support or resistance levels up to an hour, that is, if the new hour started in the past and the price closed at least one point above the level of the home, you can open a position in the direction of the breakdown.
In this case, 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 the course struck resistance and increased up to an hour for more than 15 points, it is necessary to place a pending order to buy a little above the 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, reliable location of stops to minimize potential losses.
Price does not always reach the specified level of profit to me, that there are lots of reasons why I recommend "taking a 20-point", and then if the profit will grow, gradually raise the stop to breakeven.
Alexei Syedyshev, portal "Forex Analysis" - signals, forecasts
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