As we wrote in our Аnalysis from October 20, 2021, the currency pair GBP/AUD was in the support zone of 500 EMA. The price was in Bullish Divergence with RSI 6 period. We expected it to go up so we loaded our STS_MA_Distance_Bot to open long positions on each Daily candle if the STS_MA_Distance_Indicator showed 100 or more pips distance from 10 EMA.
The Trading Robot opened 2 long positions on two consecutive Days and today the price accelerated sharply in an upward direction. The strength of today's movement and the fact that we have almost reached 10 EMA gives us reason to expect a larger target. That's why we changed the target of our Bot to 50 EMA and defended the open long positions with a stop at zero.
Learn more about the strategy here: https://smarttradingsoftware.com/en/trading-strategies/ma-distance-strategy/
See how the Robot works: https://smarttradingsoftware.com/en/expert-advisors/prd/sts-ma-distance-bot/
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