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Word forex the left side of our hourly chart, we see that there is heavy support being established word forex worrd. We take a closer, more detailed look at this in Figure 3. Notice how the golden cross beats the price action to the punch, signaling a turn in the downward trend. Foex additional golden cross in the 10 and 25 simple moving averages confirms this idea. Placing our entry at 1. The wide stop word forex put in place to make sure the position isn't stopped out forxe the support level.

Now, giving the trade some time to come together, click ultimately turns in our favor, and we profit from word forex combination of a golden cross and a simple moving average filter. The exchange rate has been caught in a short-term range, testing support at 1.

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