EURUSD Technical Chart | 26-Sep-2011
By admin on Sep 26, 2011 with Comments 2
In my previous articles on EURUSD, I’ve explained why NOT to take long position. If you’ve followed that, you can see the weakness in EURUSD chart below.
This is the technical chart of EURUSD with Doda-Donchian and Doda-Bbands indicator. Both of them together gave Sell signal @1.35875 and it started its downward journey from there. At the time of writing this post, the total profit was of about 191 pips.
Watch the support and resistance levels carefully as shown in chart.
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I used this template last 2 weeks. its doing well but i have faced one problem if enter buy or sell more times in 5 min time frame. Sir any possible to buy signal enter only close above the price or sell signal close below the price.
I don’t recommend to use it below H4 time frame. It will give signals too fast to handle, even with stop-loss. But take any call when the price CLOSES above or below the Doda-Donchian line and not before that.
Hope it will help you.
Admin