I am testing out a new strategy now as I have had numerous losses over the past few weeks and my profitability is sliding. I am focusing on larger timeframes to cut out most of the noise of intraday trading. However, to execute the trade I am making sure the 1hr chart is indicating a buy/sell indicator for the trade to play out in the 4hr chart.
The US has returned from their bank holiday today, so there might be a bit more activity around 14:00 BST. In this instance, the 4hr Chart is indicating the USD is overbought and the price is lingering around the previous 3 highs circled on the chart.
1Hr chart is indicating the price is overbought and the 5 & 8 SMA are crossing signaling a potential reversal.
Both 1Hr and 4Hr chart riding the upper Bollinger band indicating resistance.
The US has returned from their bank holiday today, so there might be a bit more activity around 14:00 BST. In this instance, the 4hr Chart is indicating the USD is overbought and the price is lingering around the previous 3 highs circled on the chart.
1Hr chart is indicating the price is overbought and the 5 & 8 SMA are crossing signaling a potential reversal.
Both 1Hr and 4Hr chart riding the upper Bollinger band indicating resistance.
Trade closed: target reached
Hit TP1Trade closed manually
Market signalling it is now overbought at 22:00 BST. I have closed the trade at 0.91289 to lock in profits prior to the Asian session, as I have a fear the market might reverse.
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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.