Selling with a close stop-loss should be considered only below the support level 1.30% - Barron's Blog - MQL4 and MetaTrader 4

21april 2012.03.21 06:50 #2201

vladds:

I don't have a head for moose after last night! Where are we going?

... Selling with a close stop-loss should be considered only below the support level 1.3200. Buying - above 1.3260.

(Possibility of continuation of growth to the level 1.3300.).

Tantrik 2012.03.21 06:50 #2202

21april:
The GBP/JPY pair on the hourly chart is trading in a neutral trend. It shows that GBP/JPY is trading above the level of the moving average with a period of 55 on the hourly chart (level 132.22), which generally contributes to the price increase in the short term.

The signal for opening a long position will be a breakdown of resistance at 133.00 with the aim of increasing to resistance at 133.44, in case of its breakdown by the end of the hour to 133.88. A stop-loss can be placed at 132.45.

The signal for the opening of a short position is a breakdown of support at 132.28 an hour to support at 131.89, and in case of its breakdown to 131.40. A stop-loss can be placed at 132.75.

Taking into account that the moving average and the location of the boundaries of the technical figures move over time, it is necessary to make adjustments in their position on the hourly chart. I also recommend opening positions by the end of the hour to avoid false breakouts.

In case of a strong movement when a technical figure breaks through, I recommend to wait for the correction. The level, which was a resistance, should become a strong support and near this level a position should be opened in the direction of the breakout.

Alexei Sedyshev, Forex Analytics - signals, forecasts

I lost to 130