Conditions: M15 or M5 Chart, 1st bounce is best bounce, currency pair extends by at least 20 pips away from 20SMA towards round number at 1 decimal places (confirmation, optional), USD/CAD & GBP/USD more sensitive
Entry: 5 & 10 pips order from/at round number (1 decimal place for EUR/USD)
Stop loss: 20 pips
Profit Target: 5 pips
Exit: If trade not completed in 15 mins
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Wednesday, 28 July 2010
Monday, 26 July 2010
Technical - FX-Ed Uptrend Technique
1. D10EMA < D20EMA < D50EMA < D200EMA
2. D10EMA acting as resistance (candle bodies below line) on daily chart for at least 10 days
3. Entry: When candle touches D10EMA, no need to wait for candle to close
4. Stop loss: 50% of 14 period ATR (Average True Range) indicator above D10EMA
5. Modify stop loss everyday using step 4
6. Optional: Take partial profit when candle nears lower channel line of equidistant channel, or enter when candle nears upper channel line.
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2. D10EMA acting as resistance (candle bodies below line) on daily chart for at least 10 days
3. Entry: When candle touches D10EMA, no need to wait for candle to close
4. Stop loss: 50% of 14 period ATR (Average True Range) indicator above D10EMA
5. Modify stop loss everyday using step 4
6. Optional: Take partial profit when candle nears lower channel line of equidistant channel, or enter when candle nears upper channel line.
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Saturday, 24 July 2010
Techical - Candlestick Reversal
Entry: Not for range bound MKT, candle of at least 6 pips, opposes established trend of at least 30 pips
Spinning tip
Entry: confirmation candle, wicks similar in length, each wick longer than body
Evening/morning star
Entry: star candle can be any color, small or no body, confirmation candle at least half length, large wick in opposite direction
Exit: Stochastics reach 80% or 20% level
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Spinning tip
Entry: confirmation candle, wicks similar in length, each wick longer than body
Evening/morning star
Entry: star candle can be any color, small or no body, confirmation candle at least half length, large wick in opposite direction
Exit: Stochastics reach 80% or 20% level
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Wednesday, 21 July 2010
Technical - To investigate
- Always wait for retrace when you see 5 consecutive same trend candles for M5
- How to execute pending orders?
- Observations: Tendency for price to wandering at least twice at Fibo before breakout
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- How to execute pending orders?
- Observations: Tendency for price to wandering at least twice at Fibo before breakout
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Saturday, 17 July 2010
Technical - M5 New Down Trend Technical Strategy
1. MACD indicates a down trend & goes below zero
2. EMA10 & EMA20 X & indicate down trend
3. Sell when
- price retraces & is on the verge to move downwards (Place pending order?)
- close to EMA10
4. Use trendline, round numbers (2 decimal places), EMA, 150% risk-reward or pivots to determine target profit & stop-loss, whichever is less rewarding
5. Move stop-loss to entry price once unrealized profit = stop-loss in terms of number of pips
6. When EMA10 & 20 are going to X & current trend will continue with momentum on M30 chart, monitor & change target profit based on M30 chart.
7. Close position when EMA10 & 20 X, EMA 10 is breached with closed bar or when VALID morning doji star appears
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2. EMA10 & EMA20 X & indicate down trend
3. Sell when
- price retraces & is on the verge to move downwards (Place pending order?)
- close to EMA10
4. Use trendline, round numbers (2 decimal places), EMA, 150% risk-reward or pivots to determine target profit & stop-loss, whichever is less rewarding
5. Move stop-loss to entry price once unrealized profit = stop-loss in terms of number of pips
6. When EMA10 & 20 are going to X & current trend will continue with momentum on M30 chart, monitor & change target profit based on M30 chart.
7. Close position when EMA10 & 20 X, EMA 10 is breached with closed bar or when VALID morning doji star appears
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Technical - Long Swing Method
Weekly chart
1. Trendline, 3 moving average lines (13, 26, 52 periods) & long MACD indicate same trend
2. Stochastic X upward below 30% level indicate that major downward retracement may have bottomed out. Stochastic X downward above 70% level indicate that major upward retracement may have topped off.
3. Price candle supported by any of the moving average lines.
4. Switch to daily chart to monitor daily movement of following week for timing to enter trade & identify entry price
Daily chart
5. Default MACD & 2 pairs of moving average lines [10 & 40, 89 &144] indicate same trend as that on weekly chart
6. Stochastic upward crossing at below 50% level to enter BUY trade OR downward crossing at above 50% level to enter SELL trade. Moving average lines & long MACD indicate same trend as major trend.
7. Stochastic X on weekly chart indicates major trend is going to undergo major retracement. Bearish price candle at a distance above 13 week moving average line for major uptrend OR bullish price candle at a distance below 13 week moving average line for major downtrend.
8. Close trade position when default MACD indicates change in direction on daily chart.
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1. Trendline, 3 moving average lines (13, 26, 52 periods) & long MACD indicate same trend
2. Stochastic X upward below 30% level indicate that major downward retracement may have bottomed out. Stochastic X downward above 70% level indicate that major upward retracement may have topped off.
3. Price candle supported by any of the moving average lines.
4. Switch to daily chart to monitor daily movement of following week for timing to enter trade & identify entry price
Daily chart
5. Default MACD & 2 pairs of moving average lines [10 & 40, 89 &144] indicate same trend as that on weekly chart
6. Stochastic upward crossing at below 50% level to enter BUY trade OR downward crossing at above 50% level to enter SELL trade. Moving average lines & long MACD indicate same trend as major trend.
7. Stochastic X on weekly chart indicates major trend is going to undergo major retracement. Bearish price candle at a distance above 13 week moving average line for major uptrend OR bullish price candle at a distance below 13 week moving average line for major downtrend.
8. Close trade position when default MACD indicates change in direction on daily chart.
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Friday, 16 July 2010
Technical - Ranging Market (1 hour chart)
- Upper & lower band of range formed by at least 2 price points each
- Both lines of Default & Long MACD give flat signals to indicate ranging market
- MIN trading range of 60 pips
- Check daily chart for direction of trend.
Uptrend - buy 75% when price near lower band of range and stochastic indicates an upward reversal
- Close trade position when stochastics indicates a downward reversal
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- Both lines of Default & Long MACD give flat signals to indicate ranging market
- MIN trading range of 60 pips
- Check daily chart for direction of trend.
Uptrend - buy 75% when price near lower band of range and stochastic indicates an upward reversal
- Close trade position when stochastics indicates a downward reversal
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Thursday, 8 July 2010
Technical - Candlestick
INDICATES REVERSAL, WAIT FOR CONFIRMATION FROM UPWARD MOVEMENT IN NEXT CANDLE, DON'T SELL, BODY SMALLER THAN PREVIOUS CANDLE
Bullish Doji Star (Right)
Bullish Inverted Hammer (left): Very small or no lower wick
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Bullish Doji Star (Right)
Bullish Inverted Hammer (left): Very small or no lower wick
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Saturday, 3 July 2010
Techical - Continue Down Trend Strategy
1. Default MACD indicates up trend
2. Long MACD & EMA23 indicate down trend
3. Price retraced up and is on the verge to move down
4. Buy close to EMA6
5. Stop-loss at EMA23 or EMA 50
6. Close position when EMA 6 & EMA 23 X
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2. Long MACD & EMA23 indicate down trend
3. Price retraced up and is on the verge to move down
4. Buy close to EMA6
5. Stop-loss at EMA23 or EMA 50
6. Close position when EMA 6 & EMA 23 X
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Thursday, 1 July 2010
Fundamentals - Trading Market Sentiment
"Short Format" of "Futures Only" for Chicago Mercantile Exchange in Commitment of Traders (COT) report released every Friday at 3.30pm Eastern Time on US Commodity Futures Trading Commission (CFTC). Plot chart with the difference between long and short commitments in Non-commercial category and look out for extremes in market sentiment.
EURO BULLISH EXTREME, SELL EUR/USD WHEN PRICE DN.
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EURO BULLISH EXTREME, SELL EUR/USD WHEN PRICE DN.
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