The EUR/USD pair, after spending the day almost in a flat, resumed its upward movement on Friday. Let us remind you that the upward trend remains for the pair, as the uptrend line remains relevant. Accordingly, buy signals from the MACD indicator should have been considered on Friday. Such signals were formed during the day, but the last signals were already much higher than the zero level, and only the first one was near it. Therefore, you should have only considered the first signal. But here, too, not everything is smooth and simple. This signal was formed at night. Therefore, it should be weeded out. But there is one subtlety here. At the time of the opening of the European session, the price moved very close to the level where the signal was generated. Therefore, it could be worked out. In this case, it was possible to earn 30-40 points, which were placed on the standard Take Profit order.
Now let's take a look at the 5 minute timeframe. Here the picture, as usual, is much more interesting and complicated. There were four signals Last Friday. The first one - a breakthrough of 1.2092 - was formed at the very beginning of the European session. You should have opened long positions, which could subsequently be closed around the level of 1.2123 or by Take Profit. In any case, there would be a profit on the trade. Next, the second signal, as we can see, turned out to be false, however, it does not matter for traders, since long positions were already opened on the first signal during its formation. That is, either there was no need to close them (but then the deal would still be closed by Take Profit), or there was no need to open new longs. Then, a sell signal was immediately formed to reverse the level of 1.2123. It has already turned out to be blatantly false, and beginners could lose 10-11 points on it. However, there is also a nuance here: this signal was formed around the time when US important reports were going to be published. Therefore, it should not have been worked out at all, as well as the fourth buy signal, which was formed exactly when important reports were released. Thus, even excluding the deal from the 30-minute chart, novice traders could earn around 30 points on Friday. In terms of statistics, the US retail sales report disappointed the markets and the dollar continued to fall after it.
Trading tips for Monday:
Novice traders currently have an upward trend on the 30-minute timeframe, so you are advised to continue to consider long positions. To do this, the MACD indicator needs to be discharged down to the zero level, that is, a correction is needed. On the 5-minute timeframe, it is recommended to trade from the levels 1.2092, 1.2123, 1.2150 and 1.2174. Take Profit, as before, is set at a distance of 30-40 points at 30M. Stop Loss - to breakeven when the price passes in the right direction by 15-20 points. The target at the 5M TF is the nearest level if it is not too close or too far away. If located - then you should act according to the situation. No major report or publication is scheduled for Monday in the US and the EU, so tomorrow may be a typical "correctional Monday" with reduced volatility.
