Maximize your profit by copy Our Trade
The Momentum technical indicator measures the amount that an asset’s price has changed over a given period of time. The indicator’s formula compares the most recent closing price to a previous closing price. If Momentum reaches extremely high or low values (relative to its historical values), the odds are that the current uptrend/down will continue. Extreme levels of the indicator mean that there’s enough momentum behind a trend to keep the price going.
Even though Momentum is an useful tool by itself, it’s better to use it in combination with other instruments. Let’s see the example of a trading strategy – Momentum and RSI combination. It’s better to use H4 timeframe for that.
Maximize your profit by copy Our Trade
✅First, notice the moment when Momentum crosses the 100 level to the upside.
✅At the same time, RSI should cross the 50 level to the upside.
✅Next, see how a Bullish candlestick confirms the entry.
✅So, it’s time to open a long position. Don’t forget to set Stop Loss 60 points below the entry.
✅Finally, your target is the previous important resistance level. Set Take profit there.
🕊We hope that the indicator will help you to gain the maximum profit!
Which timeframe do we need to apply for here?
Thank you for the amazing blog post!
Your writing is so engaging and easy to read It makes it a pleasure to visit your blog and learn from your insights and experiences