Edi Caught a Monster Trade on EUR/USD. But How?
Our team of analysts at A1 Trading Co. don't get it right every time of course, but when they do? They can really hit some home runs! Below is a screenshot before, and after Edi went long on EURUSD. He caught a staggering 95 PIPS in one morning!
With just one big trade like this, Edi was able to close out a profitable week. Imagine if every week you were able to catch moves like this, because you knew exactly what to look for!
Of course, like all of the A1 Trading Staff Analysts, Edi is an experienced trader who's been doing this for a long time. He has a background in finance, and has put in the work to develop his strategies and concepts.
Fortunately for A1 Trading Community members, they get to see Edi's every move!
If you're a new trader, still trying to figure out a winning approach, you're in luck. Because keep reading and we'll be sharing some key components to Edi's strategy, for FREE!
The first part of his strategy? His approach to support & resistance:
From Edi: "Major support and resistance levels are used for both long term and short term trading. These are areas of high value and importance. This means that price has identified Identifying Major Support & Resistance levels. Price will often be attracted and repelled by these levels. Hence where we can pick up the terms support and resistance. These are used as a mass psychology tool. Many traders see these levels and expect them to be significant.
These significant levels are used by many traders, meaning that if many traders expect something big to happen at that level typically the herd activity kicks off and something does happen. If the majority of traders expect a support level to hold many will start buying in at these levels and so the asset pair encounters buyers pushing the price up of the asset and this level of support works. Often these levels will coincide with an overbought or over sold condition that can be seen using the Relative Strength Indicator. Above 70 & below 30 is often an extreme price move. This is often found that price tends to move to these major levels and then stops because it reaches major support or resistance levels.
Now this strategy is mostly rules based and strictly following them. I frequently combine my trading with my fundamental analysis, which is separate from this technical guide of trading. The same is for a level of resistance these levels work exactly as support but instead of price going up it will fall."
Next up? What indicators is he using?
1. 200 EMA ( Exponential Moving Average)
2. 200 SMA ( Simple Moving Average)
3. 100 EMA ( Exponential Moving Average)
4. 50 EMA ( Exponential Moving Average)
5. 20 EMA ( Exponential Moving Average)
6. RSI 7& 14 ( Relative Strength Index)
7. Price Action!
But there's more... What about fundamentals? Risk Management?
In addition to his technicals, Edi uses a unique way of identifying and analyzing incoming fundamental data, which can create some really solid trading opportunities. Inside of the A1 Trading community, Edi (and the rest of our analysts) has shared his entire strategy in detail for members to learn from and review.
How did Edi know when to Exit?
One key variable is knowing WHEN to close a trade. Edi brilliantly closed out this trade before it headed back the other way, and shared the full trade breakdown with members inside the group.
Don't Miss his Next Trade: Come Trade with us!
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