Last trade of the day: short on EURGBP
Indicators show pretty clear signs of trend reversal: MACD above 0-level and massive divergence practically asking for reversal, RSI only slightly in the overbought state, yet enough to convince in combination with all other factors. Finally it's a Bollinger Down and we're coming close to the edge of our trend channel so we seem good to go. Only risk is that we're trading against the trend so we will be fairly exposed to a strong trend, so we got to keep these spreads tight! One last time: Ready, set, GO!
Indicators show pretty clear signs of trend reversal: MACD above 0-level and massive divergence practically asking for reversal, RSI only slightly in the overbought state, yet enough to convince in combination with all other factors. Finally it's a Bollinger Down and we're coming close to the edge of our trend channel so we seem good to go. Only risk is that we're trading against the trend so we will be fairly exposed to a strong trend, so we got to keep these spreads tight! One last time: Ready, set, GO!
Trade closed: stop reached:
What can we learn from this: The trend is your friend! Don't trade against the channel ;) Lost some money, so that's what this trader's tuition is...