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Simple Trading Strategy > 10/20 SMASimple Trading Strategy > 10/20 SMA > Basic Education Chart: EURUSD Timeframe: Any Indicators: 10 SMA / 20 SMA 10 SMA = Faster 20 SMA = Slower If 10 SMA crosses 20 SMA to the downside = downtrend probable IF 10 SMA crosses 20 SMA to the upside = uptrend probable Very basic only ... be aware of false breaks/breaches, etc. This is a very simple strategy which can provide good results. Practice on Demo Account to test. * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Education
by ALSM59
Locating Resistance and Support LevelsLocating Resistance and Support Levels > Basic Education Chart: EURJPY Timeframe: 4H & Above Method: Line If uncomfortable with ability to chart with Fibonacci, you may find using the Line Chart easier in identifying the Resistance and Support Levels. From the closing price, simply locate the lowest low's and the highest peaks and draw a line straight across from the bottom of the low and the top of the peaks. Always best to have multiple low's and peaks to draw from as this will help in a more accurate result. From there, you can easily see the price of the Resistance and Support levels. In addition, it can also provide a clear picture as well if any break or breach of a particular level was a true break/breach or was just a re-test by Bulls/Bears. Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59
AUDUSD 10/04/17Just my idea and analysis on the pair for the upcoming week, but on the 4 hr chart. Looks like the beginning of an inverse head and shoulders pattern. The RSI and Stochastic indicators both indicate that it is in oversold territory, and is due for a move upwards. The key to this trade will be the current support line not being broken and a strong move up after it. Will be looking to buy at the 0.74990 mark if the close if not below the support line. SL would be set at the next support line at 0.7465 1st TP would be at the first resistance at 0.7585 2nd TP would be set at 0.7670 Would need to see a strong movement upwards to be able to fulfill this idea so trade carefully guys :)
Long
by tiggerjrowe
Trend Continuation OpportunityWe have been moving harmonically to the downside, and we just broke major structure looking left. Therefore, I would expect the trend to continue. There are a hundred ways to get involved, but not many ways in which I can get involved. Each trader has its own reasons for entry that match their philosophy and psychology, and you should too. I will be updating this if I find a reason to get involved or if my outlook changed on this pair. Trade your plan and hang tight through the drawdowns!! Feel free to ask questions, criticize, or share your opinion!
Short
by GasperiniGS