Trading plan for EURUSD, GBPUSD, USDJPY for 09/11/2021
EURUSD*
Technical analysis**:
Trend: -1
Trend power: -2
Overbought/Oversold: neutral
Preferable trade direction: sell
Buy near 1,1530 with a stop loss below 1,1500 and a take profit near 1,1580.
Sell near 1,1620 with a stop loss above 1,1640 and a take profit near 1,1580.
Sell near 1,1660 with a stop loss above 1,1690 and a take profit near 1,1580.
GBPUSD
Technical analysis**:
Trend: -1
Trend power: -3
Overbought/Oversold: neutral
Preferable trade direction: sell
Sell near 1,3620 with a stop loss above 1,3670 and a take profit near 1,3520
Sell near 1,3700 with a stop loss above 1,3750 and a take profit near 1,3620
USDJPY
Technical analysis**:
Trend: 0
Trend power: -1
Overbought/Oversold: absent
Preferable trade direction: buy
Sell near 113,50 with a stop loss above 113,90 and a take profit near 112,80.
Buy near 112,80 with a stop loss below 112,50 and a take profit near 113,50.
* all transactions are intraday, that is, it must be closed at the end of the day. The error in the parameters of transactions is +/- 5 points; in the case of fundamental force majeure, the recommendations may be less relevant;
** the trend parameter – accepts values “+1” - an uptrend, “-1” - a downtrend, “0” - no trend. Determined in terms of the author's analysis of a set of signals from technical indicators from different time frames;
the trend strength parameter – accepts values from “-4” to “+4” and shows how strong this trend is. It is determined based on the author's analysis of a set of signals from technical indicators from different time frames;
overbought/oversold is defined in terms of the analysis of the RSI (8) indicator on a daily time frame. The boundaries of the zones are accordingly 70 and 30;
Preferable trade direction depends first of all on trend and its strength but is also taken into account our value judgments of the situation on the market.
Wish you successful ideas and trades!
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