*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar
Sell Target: 1.4984
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!
A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 3 white candles versus 7 black candles with a net of 4 black candles.
The previous 50 candlestick bars, there are 20 white candles versus 28 black candles with a net of 8 black candles.
MACD is BULLISH as the MACD is above the signal line.
The MACD crossed above the signal line 4 day(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar’s price has decreased 0.90%, and has been fluctuating from a high of 1.524 to a low of 1.500.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
A Stochastic SELL signal was generated today.
The Stochastic indicator is currently generating a SELL signal against the direction of the major trend.The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Buy 71 day(s) ago.
Currently the RSI does not show any Failure Swings. The RSI and price of British Pound / US Dollar are not diverging.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The ADX is currently below both Plus and Minus Directional indicators. This should not use to initiate any trades right now.
The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Because this is a trend following system, it should not use to initiate any trades right now. The last Directional Movement Indicators (DMI) signal was a BUY 138 day(s) ago.
There were no SAR signals generated today. The last SAR signal was a Buy 4 day(s) Ago.
The close is currently
BELOW its 200 daily moving average
BELOW its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bearish
British Pound / US Dollar closed above the lower Bollinger Band by 27.0%. Bollinger Bands are 41.24% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to British Pound / US Dollar’s normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 1 day(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.