@anon46773462 Take a look at the AUD/USD pair. On 7/22 on the 1h it became clear that it was trending down. It is also confirmed on the 15m. I’ve pasted a screen shot of the 15m with samples of short opportunities. Several more short opportunities exist further down too which I have not marked up.
I did one better than mere MA xover. To make it simpler for inexperienced traders, I add an 11 period Weighted MA and an RSI indicator. When the RSI goes above 80 and then comes back down below 80 you place your short order. For additional confirmation make sure you have 2 closes below the WMA. Short at the close of the bar when you get this signal.
Now, for the exit, price action analysis suggests that you take profit at or before 0.6861. I would close the trade at 0.6865. Or you can choose to trail your stop and see what price does after 0.6861.
If the trade works out you have about 180 PIPs of profit. If you were going short at the first short point indicated then you would already be in profit.
EDIT: On the chart, it should say RSI “Overbought” not oversold.
