EMA144 Setups – EURJPY, EURUSD – 01/11/2017 - Forex Trading For Profit

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EMA144 Setups – EURJPY, EURUSD – 01/11/2017

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Some months ago I described a strategy based on the average EMA144. Its description can be found here: http://comparic.com/trading-based-ema-144/.
Below you will find some trading ideas complying with the strategy assumptions.

As the strategy often works on the M5-H4 intervals it is quite good for both scalpers and long term traders.
Setups at the intervals M5 or M15 appear quite quickly and before I have time to share them in the form of article or posting on the forums – usually the order would be already in progress, and maybe it would be already closed… so I will try to make you familiar with this strategy by using it on higher Time Frames – M30-H4 although I think that on M5 and M15 its performance is highest.

Let us start with first two setups, one already in progress and one pending.

EURJPY – On the 26th October the price has broken dynamically EMA144 and today it has returned to it from below. I opened a Sell order bearing in mind that the October 23rd reflection of this average (green arrow) confirms that the pair “respected” the EMA144 recently as a dynamic line of support and resistance and the trade is consistent with the assumptions of my strategy .

EURJPY H1 – The green arrow shows that EURJPY recently rebounds from EMA144 and respects it as a dynamic support

EURUSD – also on 26.10 price dynamically breaks green EMA144. We wait for the price to return to the average and after the appearance of some bearish pinbar with long upper wick we can consider a sell order. The red circle shows place of breaking the average and a bearish pin bar rejecting the broken line.

Need some patience… awaiting the moment of price returning to EMA144


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