RE: #TRADE - 06-25-2020 - #EURUSD
Not really... the line is a Simple Moving Averaga (SMA).
DEFAULT Settings.
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And this is the default Stoch RSI, also for trend confirmation...
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but it can be messy, so don't rely on it for making a trade, some times this happens...
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You see how it pretends to go down, and then went up again and then down... well that "false" downtrend was in a higher timeframe uptrend, so you need to be careful about that.
But what I really use is Price Action and react to when the triggers come.
As you notice the SMA has crosses and it can happen with news or normal price action so it is only and indicator for trend not a confirmation for a taking a trade.
#forex as any kind of #trading is a subjective hobby or profession, it relays 100% on your interpretation of what's happening at the moment.
ALL indicators are part of PAST data and CAN'T predict the future, the simpler you make it the better!
:)
Have a great day and if you have questions I will try to answer them the best I can.
Also if you follow me I will be posting at least 1 #tradeidea with follow ups.
I trade late #NY, @asian session and #London session.
I am also a trader actually. So we can fellow one another
For sure, I now just followed you.
I will post some setups pre Asian. Now it is a little bit quiet. End of month, Mondays and Fridays ara messy. Trading is a 3 day a week work :D
Do you trade crypto as well? or what's your specialty?
No I don't do crypto. Just forex. But I am working on a project, if feasible, I can then start trading. Is there an app to demo trade crypto currency