Okane's Diary

I will share some info about my trading here!
I trade EUR/USD mostly using support and resistance lines.
My strategy also includes a couple of Moving Averages and Stochastic Oscillator
for some extra confirmation.

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Okane's Diary
Okane
Okane Posts: 230 mod
February 2015 in Trading Journals
I will share some info about my trading here!
I trade EUR/USD mostly using support and resistance lines.
My strategy also includes a couple of Moving Averages and Stochastic Oscillator
for some extra confirmation.

Another put option. Another bullish retracement
took the pair up to previous support that now acted
as resistance. I didn't trade the first touch because only the M5 was
overbought and other time frames were strongly oversold on the stochastic.
I took the second touch which happened to touch the EMA 200 on the M1 chart
but I was more relying on the price action showing this area would become resistance.
I wanted the 18:00 candle to close below this line, which it did.

This resistance line was based on "price action". Studying candles I spotted
an area where bearish candles dropped significantly. I studied time frames M1 all the way up to
H4. My line was adjusted with the help of EMA 200 and SMA 50.
Stochastic was overbought on M1, M5, M15 and almost on M30.