AUDUSD BREAKEVEN

AUDUSD BREAKEVEN
17th October 2017 contacttf
The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.

Trade entry made, using support from the 15min chart.

I missed the initial surge, so I got in higher than I would have liked.

Stop moved up, as soon price burst through the cloud.

Unfortunately from a small profit position, price turned and stopped me at breakeven.

The Chikou span is the lagging indicator component of the Ichimoku Kinko Hyo candlestick trading model. The Chikou is a line of the most recent price action, but it is plotted 26 trading periods into the past. Chikou spans are designed to allow traders to visualize the relationship between current and prior trends.

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