USDCAD is trying multiple times to break above descending trendline but without success... looking at Moving average certainly there is pressure to the downside , but as angle at which MA's are pointing downwards doesn't suggest strong bearish pressure as of now..
Trade setup :
1. Potential sell on current close below 50 SMA in 4hr chart.
2. Buy if price closes above 50 SMA and ascending trendline.
In both cases we can use 50 SMA as stop loss..
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.
Making Trading Simple..
Trade setup :
1. Potential sell on current close below 50 SMA in 4hr chart.
2. Buy if price closes above 50 SMA and ascending trendline.
In both cases we can use 50 SMA as stop loss..
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.
Making Trading Simple..