USD/ILS - Please look!

Folks, since I am from Israel I have an interest in USD/ILS and would like to share with you my observations.

The moves on the 4hr chart in this pair are almost always more than 1000 pips and it is just insane. I've never traded it yet but it looks like there is great, low risk opportunity on the 30min charts.

As you can see below these neat consolidation channels happen every day followed by a trader's dream, a clean breakout in either direction, regardless of trend.. The spread on this is around 15 pips.

Why am I saying low risk? Because it is easy to see that price breaks out and once it does, we can identify a Point-Of-No-Return. I've also noticed that if price is forming the mentioned pattern very close, but not touching the 55sma, once it breaks towards the 55sma, it doesn't go very far. That's my first filter.
On the other hand, if price is touching the 55sma while forming the pattern, it always breaks away real good. Take a look.

My target is 300 pips per break.

Would like to hear from someone trading these kind of breaks. Or anyone else for that matter

It looks very nice, but what I've learned is that those exotic pairs don't have much liquidity, so, maybe you enter a trade and hit +300 pip target but there will be no other part to close the deal and the order might not be executed.

Wonder if somebody here uses regularily that pair that can give us better opinion.

Those tight trading bands you have circled don't appear as if ILS is trading naturally. Are you sure it isn't "closed" during those times? (in the same sense that the Icelandic Krona is only available for trading at certain hours, not 24/5 like other currencies).

And exotic profits are relative. You can have 1000 pip moves every day, but the spread is 300... it's all relative. It's like trading spot Gold.

People trade exotics because they have to be in a trade. That's the first sign of a trader who has to trade... (IOW, they're gonna blow their account up soon)

I know... been there, done that. Never again.

Hehe I get the point.

And yes ILS is "closed" during this time but there's always a breakout...

Hey there Bobblong,

I am still a beginner, been taking courses for the past six months but didn't open a real account yet, and I still feel like I am not ready for it.

I am very interested in Israel's political and economic scene, and topping that I am going to study Hebrew and Israeli sociology next semester here in Egypt. I am sorry that is all beside the point, but I am trying to say that I would love to get big experience trading ILS pairs.

I would like to use a demo account to practice trading ILS crosses, but all of the accounts and platforms I used so far never had any ILS. Would you please suggest a website or a platform? I tried Meta Trader 4 and FXCM. Another member here was kind to tell me that it depends on the broker not the platform. I am a beginner still when it comes to those issues, so I was wondering if you could walk me through it, I would appreciate it so much.

Shalom vetodah

Adam

use avafx

That was short and sweet! I can't believe I have Shekels now, thanks to you