As we wrote in our Analysis of 11.05.2022 of the currency pair EUR/JPY, we expected a breakout of the formed range in a downward direction. We loaded our STS_RSI_Breakout_Bot to open a short position when the value of the RSI drops to 30 or less.
The price broke out of the range, the value of the RSI went below 30 and our Bot opened a short position. Since we do not expect the price to return to the range, we defended the position at zero risk. The target of the position is about 400 pips. We may not reach this target, so we changed the Trading Robot settings for closing the position. If the STS_RSI_MTF_Indicator shows overbought condition with a value above 70, the Robot will close the position. In this way, we will stay in the downward movement for as long as possible and close the position with an optimal target.
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Get your STS_RSI_MTF_Indicator now: https://smarttradingsoftware.com/en/indicators/prd/sts-rsi-mtf-indicator/
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