Currently, the currency pair GBP/USD on the Daily chart is trading in the resistance zone of 500 EMA. RSI 6 period shows Bullish Divergence with the price. The Moving Averages - 200 EMA and 500 EMA are parallel (showing an uptrend) and are at a distance of 300 pips from each other. The STS_MA_Distance_Indicator shows a distance of 171 pips to 10 EMA. These arguments are enough to expect that the price will make an upward movement at least to 10 EMA. An additional argument is the end of the month (one day left).
Based on this, we loaded our STS_MA_Distance_Bot to open long positions on each Day Candle if the distance to 10 EMA is 150 or more pips.
This is the advantage of Algorithmic Trading and the use of Trading Robots. The Bot will play exactly our analysis, without us having to stand for hours in front of the monitor and wait for the conditions to match. It will also close the positions exactly when the price touches 10 EMA.
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