Thursday, January 22, 2009

FOREX Trading Indicator

Forex - Slingshot Reversal Strategy

A slingshot reversal is a reliable forex trading pattern and is defined as a false breakout + reversal and occurs when a major support or resistance point is broken but the currency price does not hold below support or above resistance and moves back into it's previous trading range. The below picture shows a slingshot reversal pattern for the GBP/USD on the 1 hour chart.

On May 15th, the GBP/USD finally broke out it's trading range between 1.9845 (1) and 1.9762 (2). This break below support created a wave of new downside pressure as longs cut their positions and traders sold the technical break below support.


Then a slingshot reversal pattern took place as the cable sellers ran out of steam below 1.9733 (3) and buyers gained the upper hand, and very soon, the GBP/USD start gaining back above it's previous support level only to move higher to 1.9870.

How to trade the slingshot reversal pattern:

1) Try to identify important levels of support and resistance that many forex traders are closely watching

2) When trading 1 hour charts, wait for the market to trade 10 pips below or above the key level (either support or resistance); then put a stop entry order 10 pips above or below that KEY level.

In our case:

When 1.9752 (1.9762 - 10 pips) trades, place an order to BUY cable at 1.9772 (4).

3) If the order is executed, then place your stop 3 pips below it's previous low(3) at 1.9730.

4) Calculating your profit target for 1.5:1 risk-to-reward ratio:

Pips at risk: 1.9772-1.9730 = 42 pips. Here's our take profit target: 42 pips x 1.5= 63 pips (5)

Summary:

The forex slingshot reversal is a reliable pattern with a strong logic behind it because of it's effect on market positioning. Look for major support and resistance levels that could yield forex slingshot reversals.

Wednesday, January 21, 2009

Forex Trading Strategy

Forex - Killer Day Trading Strategy

Basically, getting into a market either long or short is based on the combined use of the daily trend line and the obtained forex killer signal. It's a basic swing strategy to exploit the current trend and further price breakout.

1) First, check the moving average of closing prices of all major currency pairs on a daily chart (i.e. by using 5, 10 or 20 Simple Moving Average trend lines), to find out the price is either trending up or down for the USD dollar.

2) Obtain price correlation among all major currency pairs to determine an overall bias to either go long or short on the USD dollar on the day. This is the first condition filter.

3) Then, generate forex killer signals for all major pairs using shorter time periods (e.g. H1, M30 or M15).

4) When the forex killer signals are in line with the daily trend bias, enter the market long or short accordingly depending on the currency pair you choose to trade.

5) Stops must be in place whenever a condition disappears. You may follow the stop levels as suggested by the forex killer software, or you can choose to optimise your own risk reward ratio.

6) This strategy produces some good results with 30 minutes and 1 hour closing prices, and with 40-60 pips return for a position.

In summary, this simple strategy allows you to see the market better as a whole and pay less attention to the out-of-sync currency pairs. I would recommend you to check out and familiarise with the forex killer signal software, and use it as an analytical tool to assist trading and improve winning chances.

by Lloyd, ScoutForex.

Sunday, January 18, 2009

Forex Chart Strategy

FOREX > Chart > Scalping Strategy








Tag tags : Forex chart Scalping strategy

Forex Tips Strategy.

Forex EMA-WMA strategy
What do you need:

1. one hour or 30 minutes timeframe
2. 18-period EMA and 29-period EMA (draw them using red)
3. 5-period WMA and 12-period WMA (draw them using yellow)

18 and 29-period EMA are two red lines which form a tunnel, this helps you to predict the trend. 5 and 12-period WMA shows you when to enter the trend, and how strong the trend is on a short term.

When the red tunnel is narrow, or thew two lines form only one line, you should open a position according to the following rules:
1. Go long when the 5 and 12-period WMA are crossed, the red tunnel is up.
2. Go short when the 5 and 12-period WMA are crossed, the red tunnel is down.

Close your positions according to the following rules:

1. The price reached the high, and 5-period WMA goes under 12-period WMA. Close all your long positions.
2. The price reached the bottom, and 5-period WMA goes beyond 12-period WMA. Close all your short positions.

When the red tunnel is crossed, close all your positions, because a trend reversal is about to come.

Wednesday, January 14, 2009

Forex Scalping Technique

Currency: ANY
Time frame: 1 hour + 30 min + 5 min.
Indicators: 14 EMA, 21 EMA, 50 EMA, Bollinger Band (20, 2).
Entry rules: Enter on 5 minutes chart.
On 5 minutes chart, for uptrend:
if 14 EMA is above 21 EMA,
then if both 14 EMA and 21 EMA are above 50 EMA,
then if 50 EMA is within the Bollinger Bands borders,
then...
go and check 30 min chart:
if price bar is a up-close bar and sitting on 14 EMA or 21 EMA
and same again:
if 14 EMA is above 21 EMA,
then if both 14 EMA and 21 EMA are above 50 EMA,
then if 50 EMA is within the Bollinger Bands borders,
then...
go Long...
OR go and check if 1 hour chart meet same conditions as for 30 min chart and then go Long.
If at least one condition is violated – stay away.
The reverse is for the downtrend:
Enter on 5 minutes chart.
On 5 minutes chart, for downtrend:
if 14 EMA is below 21 EMA,
then if both 14 EMA and 21 EMA are below 50 EMA,
then if 50 EMA is within the Bollinger Bands borders,
then...
go and check 30 min chart:
if price bar is a down-close bar and touching 14 EMA or 21 EMA
and same again:
if 14 EMA is below 21 EMA,
then if both 14 EMA and 21 EMA are below 50 EMA,
then if 50 EMA is within the Bollinger Bands borders,
then...
go Short... or go and check same rules for 1 hour chart and only then enter Short on 5 minutes chart.
Exit rules: exit when any of the conditions is violated or when the profit is high enough to close the trade.

--- by; Edward revy -------

Sunday, January 11, 2009

FREE FOREX SIGNAL

Free Forex Signal, 12 January 2009
Update every day at 01.30 am GMT ( 08.30 WIB )

Today update 01.00 am GMT

All Pair – Stop loss 35 Pips

EUR/USD

Pivot : 1.3548
Avg. Daily Range : 327 point
BUY at 1.3475 Exit Target 15 pips
SELL at 1.3372 Exit Target 20 pips


GBP/USD
Pivot : 1.5209
Avg.Daily range : 322 point
BUY at 1.5159 Exit Target 20 pips
SELL at 1.5038 Exit Target 20 pips

Note : GBP/USD Stop Loss 40 pips

USD/JPY
Pivot : 90.83
Avg.Daily range :154 point
BUY at 90.13 Exit Target 15 pips
SELL at 89.95Exit Target 20 pips


AUD/USD
Pivot : 0.7048
Avg.Daily range : 141 Point
BUY at 0.7002 Exit Target 15 pips
SELL at 0.6959 Exit Target 20 pips


Free Forex Signal – Click here…; USD/CHF, USD/CAD, GOLD


Tag TAGS ; Free Forex Signal FOREX SIGNAL Forex Signal Indicator

Friday, January 9, 2009

Forex Chart

FOREX > Chart > Strategy

SMA - Schaff Trend Cycle - Trend Oscillator




Thursday, January 8, 2009

FREE FOREX SIGNAL

Free Forex Signal, 09 January 2009
Update every day at 01.30 am GMT ( 08.30 WIB )

Today update 01.05 am GMT


All Pair – Stop loss 35 Pips

EUR/USD
Pivot : 1.3667
Avg. Daily Range : 288 point
BUY at 1.3734 Exit Target 15 pips
SELL at 1.3618 Exit Target 20 pips


GBP/USD

Pivot : 1.5190
Avg.Daily range : 361 point
BUY at 1.5283 Exit Target 20 pips
SELL at 1.5103 Exit Target 20 pips

Note : GBP/USD Stop Loss 40 pips

USD/JPY
Pivot : 91.71
Avg.Daily range : 164 point
BUY at 91.97 Exit Target 15 pips
SELL at 90.90 Exit Target 20 pips


AUD/USD
Pivot : 0.7052
Avg.Daily range : 169 Point
BUY at 0.7120 Exit Target 15 pips
SELL at 0.7036 Exit Target 20 pips


Free Forex Signal – Click here…; USD/CHF, USD/CAD, GOLD


Tag TAGS ; Free Forex Signal FOREX SIGNAL Forex Signal Indicator

Wednesday, January 7, 2009

FREE FOREX SIGNAL

Free Forex Signal, 08 January 2009
Update every day at 01.30 am GMT ( 08.30 WIB )

Today update 01.05 am GMT

All Pair – Stop loss 35 Pips

EUR/USD

Pivot : 1.3601
Avg. Daily Range : point
BUY at 1.3525 Exit Target 15 pips
SELL at 1.3618 Exit Target 20 pips


GBP/USD

Pivot : 1.5069
Avg.Daily range : 371 point
BUY at 1.5156 Exit Target 20 pips
SELL at 1.4954 Exit Target 20 pips

Note : GBP/USD Stop Loss 40 pips

USD/JPY
Pivot : 92.98
Avg.Daily range : 147 point
BUY at 93.16 Exit Target 15 pips
SELL at 92.31 Exit Target 20 pips


AUD/USD
Pivot : 0.7156
Avg.Daily range : 158 Point
BUY at 0.7108 Exit Target 15 pips
SELL at 0.7048 Exit Target 20 pips


Free Forex Signal – Click here…; USD/CHF, USD/CAD, GOLD

Tag TAGS ; Free Forex Signal FOREX SIGNAL Forex Signal Indicator

Tuesday, January 6, 2009

FREE FOREX SIGNAL

Free Forex Signal, 07 January 2009
Update every day at 01.30 am GMT ( 08.30 WIB )

Today update 02.50 am GMT

All Pair – Stop loss 35 Pips

EUR/USD
Pivot : 1.3497
Avg. Daily Range : 302 point
BUY at1.3552 Exit Target 15 pips
SELL at 1.3416 Exit Target 20 pips


GBP/USD
Pivot : 1.4804
Avg.Daily range : 351 point
BUY at 1.4999 Exit Target 20 pips
SELL at 1.4792 Exit Target 20 pips

Note : GBP/USD Stop Loss 40 pips

USD/JPY
Pivot : 93.57
Avg.Daily range : 143 point
BUY at 94.07 Exit Target 15 pips
SELL at 93.11 Exit Target 20 pips


AUD/USD
Pivot : 0.7172
Avg.Daily range : 165 Point
BUY at 0.7240 Exit Target 15 pips
SELL at 0.7186 Exit Target 20 pips


Free Forex Signal – Click here…; USD/CHF, USD/CAD, GOLD

Tag TAGS ; Free Forex Signal FOREX SIGNAL Forex Signal Indicator

Monday, January 5, 2009

FREE FOREX SIGNAL

Free Forex Signal, 06 January 2009
Update every day at 01.30 am GMT ( 08.30 WIB )

Today update 06.30 am GMT


All Pair – Stop loss 35 Pips

EUR/USD
Pivot : 1.3716
Avg. Daily Range : 325 point
BUY at 1.3618 Exit Target 15 pips
SELL at 1.3511 Exit Target 20 pips


GBP/USD
Pivot : 1.4623
Avg.Daily range : 298 point
BUY at 1.4705 Exit Target 20 pips
SELL at 1.4557 Exit Target 20 pips


USD/JPY
Pivot : 92.83
Avg.Daily range : 139 point
BUY at 93.34 Exit Target 15 pips
SELL at 92.74 Exit Target 20 pips


AUD/USD
Pivot : 0.7123
Avg.Daily range : 135 Point
BUY at 0.7177 Exit Target 15 pips
SELL at 0.7097 Exit Target 20 pips


Free Forex Signal – Click here…; USD/CHF, USD/CAD, GOLD

Tag TAGS ; Free Forex Signal FOREX SIGNAL Forex Signal Indicator

Forex Strategy

Forex Chart > Double Stochastic






Forex Chart > EMA, RSI & Stochastic



Sunday, January 4, 2009

FREE FOREX SIGNAL

Free Forex Signal, 05 January 2009
Update every day at 01.30 am GMT ( 08.30 WIB )

Today update 01.05 am GMT


All Pair – Stop loss 35 Pips

EUR/USD
Pivot : 1.3918
Avg. Daily Range : 245 point
BUY at 1.4007 Exit Target 15 pips
SELL at 1.3914 Exit Target 20 pips

GBP/USD
Pivot : 1.4533
Avg.Daily range : 301 point
BUY at 1.4586 Exit Target 25 pips
SELL at 1.4416 Exit Target 25 pips

Note ; Stop Loss 40 pips

USD/JPY
Pivot : 91.64
Avg.Daily range : 133 point
BUY at 92.43 Exit Target 15 pips
SELL at 91.68 Exit Target 20 pips


AUD/USD
Pivot : 0.7037
Avg.Daily range : 154 Point
BUY at 0.7163 Exit Target 15 pips
SELL at 0.7089 Exit Target 20 pips


Free Forex Signal – Click here…; USD/CHF, USD/CAD, GOLD

Tag TAGS ; Free Forex Signal FOREX SIGNAL Forex Signal Indicator