Using a set amount for SL and TP for different pairs and time frames is not effective money management. Using the ATR for a specific pair and time frame lets you custom yur SL & TP for what that pair actually moves. ATR 1D takes the last 14 candles and adds up then up together and then divides that figure by 14. Now you have an average of how much that pair moves...
Add to Chart 50sma Aroon - change color to green/red ATR 50sma Base Line Price above Long trades Price below Sell trades Aroon Crossover Entry Buy - Green above Red Sell - Red above Green ATR Money Management SL = 1.5 x ATR TP = 1 x ATR
Long Trade AO below Zero Line AO creates a Low AO then creates a Higher Low ENTER after AO bar closes Green Short Trade AO above Zero Line AO creates High AO then creates a Lower High ENTER after AO bar closes Red Stop Loss is 1.5 x ATR Take Profit is 1 x ATR 1 - Trade Management 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP...
EURNZD– Sellers are working on potencial sell because... Trend: Strong Sell Support/Resistance R3: 1.73495 R2: 1.72749 R1: 1.72124 S1: 1.71437 S2: 1.70602 S3: 1.69815 S4: 1.68599 Price action Sellers are working on potencial sell because of weak eur currency on the other side. Sellers has to break S1 and then will be even more stronger then, they are...
USDCAD – Price might break channel and then follow up move higher Trend: Strong Buy Support/Resistance: R3: 1.33922 R2: 1.33454 R1: 1.32800 S1: 1.32721 S2: 1.32339 Price action: Buyers rebonded from the channel, but still we don't know if sellers will react, so we need first answer from sellers. If buyers are able to break channel and hold above then we...
CADJPY – Sellers will soon show good position for sell if the price will maintain below new resistance Trend: Strong Sell Support/Resistance: R3: 81.200 R2: 81.838 R1: 81.634 S1: 81.402 S2: 80.840 S3: 80.252 S4: 79.817 Price action: Market start showing potencial reverse flow, from buy to sell. We have to be carefull from now to the London section, but if...
GBPCAD – Buyers are going in trending way, but do you thing they can break even Trend: Buy/ Neutral Support/Resistance: R2: 1.73254 R1: 1.70913 S1: 1.69200 S2: 1.67288 Price action: Buyers are headed to break R1 level, but suspitious to me is buyer's laziness. In next days we still has to be carefull on candle charatheristics. If Sellers might face off...
AUDCHF – Previous week was crazy, from both price action and news announcement Trend: Buy Neutral Support/Resistance: R3: 0.68363 R2: 0.67923 R1: 0.67621 S1: 0.67227 S2: 0.66872 Price action: Pirce seem sellers tok of the stage. But overall trade is still in buyers ayes. If sellers are enough strong then, they should push the price lower from R1. If buyers...
AUDCAD – Buyers trending might be proven to highs these days Trend: Strong Buy Support/Resistance: R3: 0.91447 R2: 0.91023 R1: 0.90719 S1: 0.90522 S2: 0.90224 S3: 0.89947 Price action: This case is showing very strong momentum versus lazy sellers. From last week price action was high to 0.912 level, where is going following price if it the price can break and...
AUDCAD – Buyers trending caught between daily channel Trend: Strong Buy Support/Resistance: R3: 1.09128 R2: 1.08901 R1: 1.08635 S1: 1.08206 S2: 1.07998 S3: 1.07798 Price action: Buyers are showing strong performance. From previous day price touched high level and rebounded from overall daily channel. Price did a faker but still might go long position,...
CHFJPY – Jpy currency is showing weakness from previous days and the trade might be continued by swiss currency. Trend: Strong Buy Support/Resistance: R3: 111.497 R2: 110.800 R1: 110.169 S1: 109.779 S2: 109.384 Price action: Buyers might continue move higer if buyers break resistance level at 110.169. If we hold above this level then price might see targets...
GBPJPY – Following Gbp trending is still showing performance to buy this pair Trend: Strong Buy Support/Resistance: R3: 145.741 R2: 143.270 R1: 140.699 S1: 137.820 Price action: Price hold above trending flow, which will first test Higher High levels and then we'll see if Yen currency will deny again. Buyers are enough confidant to continue trending flow in...
Trend: Strong buy Support/Resistance: R2: 83.867 R2: 83.548 R1: 83.125 S1: 82.785 Price action: Buyers rebounce hard after sellers retraced from supportical level at 82.785. Sellers might be quite for a while, till buyers complitally get tired. Next buyers targets will show us strenght and decision how sellers will react after. Potencial trade idea:...
Trend : Strong Sell Support/Resistance: R2: 1.31866 R1: 1.31332 S1: 1.30866 S2: 1.30400 S3: 1.29758 Price action: Buyers are in sellers trending zone. Few hours ago buyers showed some momentum which might scared others, but sellers quick after retraced for 100%. Sellers are enough strong to break support level at 1.30866. If we hold below, then sell...
In this video update, we take a look at the number one most asked question... How to find a currency pair to trade. Typically we look at the major currency pairs for areas of opportunity and look for the strength and weakness of the currencies against the USD in order to look for a cross pair of interest.
In this video update, we take a look at the RSI indicator and how you can implement the study into your own trading. Indicators are lagging to price action and should always be used in conjunction with other confluences. We take a look at a moving average bounce strategy with the RSI in an overbought or oversold condition to filter out better trading opportunities.
In this video update, we take a look at EURUSD and the current downtrend. We break down how you can use trendlines to look for trend continuation trades and changes in trend.
Lack of proper training is the killer of your trading. Your trading experiences just make you repeat your mistakes again and again