Good day traders,
In this article I am going to show you and explain you some trades and trading setups which I took last week. All of them are 60 seconds FX trades. Let’s see my trades.
I made a small deposit in OptionsXo last week and I doubled my account in about 30 minutes with these trades. As I said above, all of them are 60 seconds trades. I used reversals in supports and resistances, mainly in previous supports and resistances and bounces in the EMA.
In the above screen shot I have three charts. The first one is from EURUSD currency pair, the second one is from USDCHF currency pair and the last is from GBPUSD currency pair. As you can see in these charts, I have only a 50 period exponential moving average and nothing else. The red horizontal lines are supports and resistances. It’s almost naked trading without indicator. In these charts there are two circles with arrows and two rectangles with arrows. I took trades only in the circles. I have the rectangles to show you some solid setups which I didn’t take in this case.
In the first circle in EURUSD currency pair we are in an uptrend, notice the higher highs and the higher lows. We have a support in the 50 period EMA (the green one) and we have our resistance in the second red horizontal line. The second time in which the price touched this resistance level I took an in the money put trade. In the rectangle in the EMA it’s a good opportunity for a call because we are in a strong uptrend as I said before and we have a small rejection.
In the second chart from USDCHF I took an ITM call trade in the circle. The price broke the previous resistance but it hit another stronger previous resistance. In the rectangle is a good opportunity for a put trade. In this case we are in a down trend the price makes lower highs and the reversal in the 50 EMA was possible as it finally happened.