My trade yesterday looks to have gone to plan.
I got in just after the highest high as illustrated on the chart.
As you can see both Stochastic and RSI proved that the market was being over bought.
This points to a sell.
The resistance at 1.08505 was passed with flying colours but volatility soon started to fade.
Then MACD crossed over which pinpointed my entry point.
It is looking as if things are going to go from overbought to oversold pretty quickly.
I am looking to get a long position when the same circumstances appear but being oversold not overbought (obviously).
I got in just after the highest high as illustrated on the chart.
As you can see both Stochastic and RSI proved that the market was being over bought.
This points to a sell.
The resistance at 1.08505 was passed with flying colours but volatility soon started to fade.
Then MACD crossed over which pinpointed my entry point.
It is looking as if things are going to go from overbought to oversold pretty quickly.
I am looking to get a long position when the same circumstances appear but being oversold not overbought (obviously).