New kid on the block. Thought I’d share a setup I found on EUR/USD. I tend to use SMAs a lot on my trading to determine bias… Take a look!
EUR/USD, 1 Hour
Stop Loss: 1.2790
Profit Target: 1.2900
Indicators: 100SMA (PINK) 200SMA (WHITE)
I’m a technical trader (for now) and I mostly look at Fibs and the 100/200 SMAs. In this case, there seems to be a confluence of buy signals around the 1.2830 level, assuming price pulls back there. The level is a former resistance and it lines up with the 200 SMA.