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Hi Zidane and Welcome,
In my previous posting I offered a short-term strategy to capture a good few pips whenever the opportunity arises.
In hindsight, a difficulty will be ascertaining the Main Trend in place.
I have used the 40 Simple Moving Average for this. In other words, if the 40 SMA is Up, I consider the market (the specific pair involved) to be Uptrending for this timeframe.
So you could use both the 20 SMA and the 40 SMA and use the 40 SMA as te guide to define the trend.
In the spirit of sharing with everyone a possible trade opportunity is coming up at the Sydney open tomorrow, as follows:.
- USD - CAN --
- Enter - Long at around 1.0200
- Stop Loss - 1.0100
- Limit - 1.0350
As always, please use sensible maney management and discipline.
Good luck and cheers,
By the way Zidane, are you related to the famous Z.Z. ?
soccer
