FXCM USBANKS Basket Hourly Rally in Longer-Term Weakness
FXCM’s USBANKS basket is in the bearish area on the daily chart on the left. The basket is an equal weighting (20% each) of JPM , BAC , WFC and C. A bearish cross of the EMAs and stochastic potentially align short-term traders with the daily. If signals occur, movement of stochastic to 20 level and maintenance of that level increase the chances of a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop above hourly high in conjunction with risk management techniques.