A nice couple of trades for the smart money indicator today. Will be looking out for breakout below 1.27 to counter - will most likely either be before close of NY session or at London open. Eyes peeled 8AM
Inspired by a video and blog post by VP at No Nonsense Forex, I wrote these two indicators to both detect larger than average moves in price ("BIG BANKS)", and show where to place trade entries, as well as 2 take profit targets and stop loss.
Use the indicator beneath the chart to see when and in which direction to place trades. On close of bar place 2 long or...
Entry signals generated at MACD Zero Cross and SMA50 cross -
LONG entries taken when:
Upper Bollinger Band is above upper Keltner Channel band
Price closes above Upper Bollinger Band
MACD line is positive
Close is above 50SMA
10EMA is above 20EMA
SHORT entries taken when:
Lower Bollinger Band is below lower Keltner Channel band
Price closes below Lower Bollinger...