How We Figured Trade Direction on Today’s SuperADX “Big Move” Red Bar Signal
We received a SuperADX Red Bar indicating a BIG MOVE is about to happen on the GBP/JPY. The original forex signals appeared on the 30min chart. We move to a chart which is 4x the timeframe so that we can see a “bigger picture” of the trade. In this instance, we see a downward trend and two trendlines indicating Support and Resistance. The Big Move appears to be down, so we set our stop loss to outside the trendline and above the Moneyline resistance level while our target is within the trendlines and above an old support level.