As we wrote in our Analysis from 12.01.2022, the EUR/USD currency pair had formed a very narrow range on the Daily chart and we expected a breakout. We loaded our STS_RSI_Breakout_Bot and it opened a long position above the Up Level of the range, when RSI increased above 70.
On the M15 Š¢imeframe we see that the Moving Averages are spread out and show a strong Uptrend. Because the movement we expect is from a Daily chart with a target of about 300 pips, we have loaded our STS_RSI_Bot on the M15 Timeframe to open long positions on each correction with RSI 30 or less and close at RSI 70 or more. Thus, if the scenario develops according to our expectations, we will take the most effective profit from the Uptrend by trading on the small timeframe by entering on each trend correction.
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