FOREX MORNING TRADE

Long Signal:

To capitalize on a bullish opportunity, we await specific conditions:

  1. Momentum Check: At 5:15 am, we analyze the momentum. It must be robust, hovering between 100 and 100.8, signaling a strong upward trend.
  2. CCI Confirmation: Concurrently, the Commodity Channel Index (CCI) should validate the upward momentum by registering above 0.

Upon satisfying these criteria, we execute a buy order at the prevailing market price. With both Momentum and CCI aligning positively, we seize the opportunity for a Long position.

Short Signal:

Conversely, for a bearish stance, we await:

  1. Momentum Check: Examining the momentum at 5:15 am, it should exhibit weakness, oscillating between 99.2 and 100, indicating a potential downturn.
  2. CCI Validation: Additionally, the CCI at this time should confirm the downward momentum by residing below 0.

In the presence of these conditions, we initiate a sell order at the current market price. With Momentum and CCI signaling a bearish sentiment, we confidently enter a Short position.

Exiting the Trade:

Our strategy employs a disciplined approach to exit:

  • Profit Target: We set a fixed Profit Target of 40 pips, ensuring a predefined gain.
  • Stop Loss: Similarly, a fixed Stop Loss of 40 pips is established to mitigate potential losses.

Post-execution, we adopt a hands-off approach, allowing the market to play out. There's no active management involved; simply set the trade and let it run. This method provides convenience, enabling traders to step away from their screens and revisit the outcomes later. Whether it's the end of the day or the following morning, the results can be assessed at leisure.