Euro / U.S. DollarShort
EURUSD 15 m Short trade target 800 sma
Updated
Look for pairs only on the 15 m chart that have not touched the 800 sma for 3 to 5 days. EURUSD has not touched 800 sma for 5 days. The bias for this trade is short since the target of the 800 sma is below current price.
Trade Rules for setup are: Rule 1 - Only trade short this week until target of 800 sma is reached. Rule 2 - Only trade the 15 m time frame for this strategy. Rule 3 - Only trade short when price is below both ma's.
Entry Rules for multi-short trades are: Rule 1 - When price breaks below lowest ma. Rule 2 - When macd crosses below 0 line. Rule 3 - When macd is below 0 line & blue line crosses below red line. Rule 4 - After a bullish pull back and a continuation short reversal candle paints. Rule 5 - When price breaks a support level.
1st SL is swing high above 1st entry point. ATR is 74 pips. After 50 pips move to stop-even plus 5.
When price comes to 00# or 50# you could take off 1/2 of your position and re-enter at 45# or 95#.
Close out trades with a hard TP at what ever price says the current 800 sma will be.
Trade Rules for setup are: Rule 1 - Only trade short this week until target of 800 sma is reached. Rule 2 - Only trade the 15 m time frame for this strategy. Rule 3 - Only trade short when price is below both ma's.
Entry Rules for multi-short trades are: Rule 1 - When price breaks below lowest ma. Rule 2 - When macd crosses below 0 line. Rule 3 - When macd is below 0 line & blue line crosses below red line. Rule 4 - After a bullish pull back and a continuation short reversal candle paints. Rule 5 - When price breaks a support level.
1st SL is swing high above 1st entry point. ATR is 74 pips. After 50 pips move to stop-even plus 5.
When price comes to 00# or 50# you could take off 1/2 of your position and re-enter at 45# or 95#.
Close out trades with a hard TP at what ever price says the current 800 sma will be.
Note
My first entry was @ 1.1661 with the break of the lowest ma. My 2nd entry was @ 1.1640 during this morning opening of US Stock Exchange. The macd blue line crossed below the red line.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.