Trade Idea

According to 30M time frame, EUR/USD is making their way down around 1900 +2GMT. So, I short the pair at 1.3185 while Stochastic oscillator at 1M time frame is clearly showing an overbought market. My plan is to take profits at 1.3083 which is the pivot level. A strict stop lost was placed at 1.3216 for this trade. Then, I go to sleep, and will surely check the result when I wake up tomorrow morning. I'm ready for both positive and negative outcome.

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Introduction to Stochastic Oscillator

Stochastic oscillator is a very good forex technical indicator. It is very useful to determine whether uptrend or downtrend is about to over. As I always did, I jump into the market to trade the trend when the trend is about to over. Now, that this indicator is taken into consideration, the risk of trading the useless trend is very minimal. With Forex Power Trading System paired with Stochastic oscillator, I feel more confident to trade forex.

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