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
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.
Today's trade! EUR/USD put option.
Moving averages are great tools for confirming support and resistance areas.
I already had my line drawn and I was anticipating a lower high to touch the line.
On the M5 and H1 the SMA 50 was at the same price and the EMA 200 at the same
location as the SMA 50 but on the M30 time frame. Analyzing the candlesticks you
can quickly see how my line was placed at the exact same location where price
fell significantly just hours before. Stochastic oscillator was overbought on M1, M5 and M15.
Another factor that played its role was time. I usually place most my trades at or near xx:00
or xx:30. In this case price touched my line at 14:57 (Metatrader time!). There was an extended move
but my line eventually held strongly and the trade ended ITM! Together these factors gave me
plenty of information and confirmation needed to pull off a successful trade.
Today's Trade! EUR/USD put.
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.
Lol, thanks, yeah nothing sucks more than dilatory insults.
A late night trade! Took this call when price touched my SMA 50.
M5 oversold and trend was bullish at the time. A strong bullish candle
shot the price up significantly to my favor!
Doesn't seem to work... Maybe I am doing something wrong? I can upload via a link but not
