Any currency pair can be used but GBP/USD works better. It may be used for scalping. 30min to 1hr charts can be used. Indicators are 9 SMA, 100 SMA (both on close price) and RVI (100).
1. LONG when 9 SMA crosses above 100 SMA and RVI above 0.
2. SHORT when 9 SMA crosses below 100 SMA and RVI below 0.
3. Close your position and enter an opposite one when 9 SMA crosses back, or simply close your position when the price crosses back over the 9 SMA by 20 pips.
There are many factors that affect exchange rates of currencies. However some are more important in currency trading than others. These are; Interest and Inflation rates, Trade balance, Currency market speculation, Foreign investment and Central bank market intervention. Learn how to use these factors in your forex tra ...