Trading plan for EURUSD, GBPUSD, USDJPY for 05/08/2019
The technical cross-section**:
Trend: -1
A strength of trend: -2
Overbought/oversold: none
The priority area of transactions: selling
Selling in the area of 1,1120 with a stop above 1,1160 and a profit in area 1,1020.
Selling in the area of 1,1200 with a stop below 1,1230 and a profit in area 1,1140.
GBPUSD
The technical cross-section:
Trend: -1
A strength of trend: -4
Overbought/oversold: oversold
The priority area of transactions: selling
Selling in the area of 1,2220 with a stop above 1,2260 and a profit in the area of 1,2130.
Selling in the area of 1,2320 with a stop above 1,2360 and a profit in the area of 1,2230.
USDJPY
The technical cross-section:
Trend: -1
A strength of trend: -4
Overbought/oversold: oversold
The priority area of transactions: selling
Selling in the area of 106,60 with a stop above 106,90 and a profit in the area of 105,90.
Selling in the area of 107,60 with a stop above 107,90 and a profit in the area of 106,90.
* 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;
the priority area of transactions 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 trading solutions and transactions!
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