Potential sell on rise .. however in daily chart price is above 20 SMA and therefore bullish continuation cannot be excluded..
as per current setup in 1 hr chart price is closed below 50 SMA , now when price moves high we expect 50 SMA to offer resistance , but if price continue moving higher and closes above 20 SMA with 50 SMA still pointing high Take long trades with stop below 50 SMA.
We try to highlight potential trading setups on Pairs on 1hr and 4 hr chart , while analysis is done on Daily - 4hr - 1hr ,
Our Analysis is based on Breakouts & Retest of Support Resistance levels of Trendlines & Moving Averages , We use EA for Automatic Execution of trades based on price breakouts of Moving Averages . oving average can show you trends / support resistance levels , ranging market etc.
Just like trendlines we trade breakouts , retests of moving averages too ,
To trade correctly our ideas , follow the instructions and wait for candle close wherever advised.
Not all setups will be great , and losses are part of Game , consistency will surely give good results in long term.
Follow us to get best entries and benefit from Moving averages ....
Your comments are welcome , do let us know if u won or lost some pips following our strategy , and if you think there are ways to improve it.