SurpriseTrade, the 800 Simple Moving Average

Trading Spot Forex, Equities and Futures using "Long Term Moving Averages" as Support and Resistance. The strategy consist of breakouts from the 800 or 200 simple moving average (sma) Bollinger Band. Will take into account the 800sma, 200 sma, the 50 sma and recent high/lows as support and resistance. Reversal patterns "double bottom" or "double top" near a Bollinger Band will trigger a trade.

Wednesday, March 23, 2011

Bearish on the Eur/Sek

A SurpriseBox near the 50sma  was formed on the Eur/Sek Three Hour Chart. This box broke to the downside at 6am est, currently on the recoil. Not quite a engulfing pattern as it did on monday to the upside. 
  • Target of near 8.900 corresponding to the 100sma. 
  • Stop is near the 8.9700 area corresponding to a recent high and close to the 800sma.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.

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