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.

Thursday, May 24, 2012

Finished CHF/JPY Trade

The CHF/JPY broke the 800sma daily SurpriseBox to the downside with a head and shoulders pattern. This was very significant as it formed a gap on May 6 out of the box, May 8 there was a bearish candle out of the gap and on May 10 there was a crossover between the 800sma and the 200sma. Got out at 83.72 corresponding to a long bearish candle after the break. Also near the 2x from the top of the head to the neck.
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. By SurpriseTrade@gmail.com
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