This is today's trade on the GBPUSD pair, the following were my thoughts before I entered the trade (Click on pic to enlarge)
The Exponential Moving Averages (EMA 5, 20, 50)
EMA 5 crossed above EMA 20
EMA 20 crossed above EMA50
This has signalled for a LONG trade.
Other Indicators:
MACD: Sloping up and Fast line crosses above Slow Line
Stochastic: Sloping up and fast moving into the overbought region
Accelerator Ocsillator: 2 Green Bars which signalled that the trend has just kicked into momentum.
Entry, Stop and Limit as indicated in the price chart.
Target profit was met and trade was closed. Still trying to learn as I trade. Overall, a lesson learnt in confirming the EMA and indicators.
Current P/L: +21 pips
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