Wednesday, August 21, 2013

Equity:848.90 - Again

My account dipped again, and I stumbled upon another idea.

Use 2 graphs, one long term, and one shorter term.
I will use the Daily candle chart and Hourly candle chart.


From above, I see a downtrend in the daily chart, proceed to look at the Hourly chart.


From the Hourly chart above, there will be a sell opportunity when it dips. This is aligned with my previous 2 principles, which is to


  • sell when the 20 SMA is under the 50 SMA.
  • sell after a rise

So, I will be waiting for the AUD/USD to reverse downwards before I enter the trade.

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