AUDUSD LOSS

AUDUSD LOSS
20th April 2018 contacttf
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.

I felt there was an opportunity to scalp this pair. Unfortunately, I was wrong and the trade did not work again. I was stopped out before I could post my entry on the social sites.

What I learnt from this was to take extra caution when 45min and 1 hour charts, indicates an opposite view.

The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

 

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