Hi all, instead of restarting my daily signals thread ihave decided to start a new technical analysis thread that we can all hopefully benefit from.
The idea behind this thread will be naked charts with trendlines only. No indicators of any kind will be used for determining the trend, our trendlines will do that for us. Fibonacci and RSI may be used on the daily charts only. IF fibo is used, trades will always be at the 61.8% never the 50% or 38.2%. Regardless of fibo, pending orders will be used alot which will make following any trades easier for other people, but they will not be used exclusively.
I have setup a new demo account which can be monitored here -> http://www.mt4i.com/users/pipstealer/ the ftp update will be running 24/7 the broker is http://www.vantagefx.com/ which is an Australian broker i am currently testing out, only thing is the currency on the demo can only be in USD. Money management is a maximum of 10% exposure at any given time and a minimum 1:2 risk:reward per trade, if this is not possible no trade is entered. Account is $1k in size and lotsize will be limited to 0.02 at maximum per trade,
WE DO NOT ADD TO LOOSING POSITIONS AT ANY STAGE.
I will be posting charts before the markets open every sunday with what i think might be good breakouts to watchout for, I will update the charts daily as i have time and as price progresses towards breaking out. These trendlines will only be drawn on H1 or above, M30 or below will not be used here for any purposes. Daily trendlines will always be drawn and never ignored, they will override all other trendlines lower than it, a weekly will override the daily and monthly overrides weekly.
I will be avoiding what is to be considered high impact news and will be flat 30minutes before said news. Medium or low impact will be ignored. For a good economic calendar please use http://www.dailyfx.com/calendar/ rather than http://www.forexfactory.com/calendar/ the reason for this is FF often displays news as Tentative while DFX shows the actual time, i also feel FF displays some news as high impact when DFX displays it as low or medium at best. In my experience DFX is more accurate in defining the impact the news will have on the markets.
All pairs that i consider tradable due to trends / volatilty and spreads will be covered, which will be a maximum of 15 pairs at any given time, so plenty of potential.
Please be aware that if you decide to follow any of these setups at any stage with real money you accept responsibility for any and all trades placed on your account. Dont come crying if you loose money simply because the markets did what they wanted or you over leveraged your trade(s)
Name : MANUAL
Email : djvhdkjn!@sdfslj.fx
Login : 85843
Investor : yvsq5hv (read only password)
With that being said on with the show
The idea behind this thread will be naked charts with trendlines only. No indicators of any kind will be used for determining the trend, our trendlines will do that for us. Fibonacci and RSI may be used on the daily charts only. IF fibo is used, trades will always be at the 61.8% never the 50% or 38.2%. Regardless of fibo, pending orders will be used alot which will make following any trades easier for other people, but they will not be used exclusively.
I have setup a new demo account which can be monitored here -> http://www.mt4i.com/users/pipstealer/ the ftp update will be running 24/7 the broker is http://www.vantagefx.com/ which is an Australian broker i am currently testing out, only thing is the currency on the demo can only be in USD. Money management is a maximum of 10% exposure at any given time and a minimum 1:2 risk:reward per trade, if this is not possible no trade is entered. Account is $1k in size and lotsize will be limited to 0.02 at maximum per trade,
WE DO NOT ADD TO LOOSING POSITIONS AT ANY STAGE.
I will be posting charts before the markets open every sunday with what i think might be good breakouts to watchout for, I will update the charts daily as i have time and as price progresses towards breaking out. These trendlines will only be drawn on H1 or above, M30 or below will not be used here for any purposes. Daily trendlines will always be drawn and never ignored, they will override all other trendlines lower than it, a weekly will override the daily and monthly overrides weekly.
I will be avoiding what is to be considered high impact news and will be flat 30minutes before said news. Medium or low impact will be ignored. For a good economic calendar please use http://www.dailyfx.com/calendar/ rather than http://www.forexfactory.com/calendar/ the reason for this is FF often displays news as Tentative while DFX shows the actual time, i also feel FF displays some news as high impact when DFX displays it as low or medium at best. In my experience DFX is more accurate in defining the impact the news will have on the markets.
All pairs that i consider tradable due to trends / volatilty and spreads will be covered, which will be a maximum of 15 pairs at any given time, so plenty of potential.
Please be aware that if you decide to follow any of these setups at any stage with real money you accept responsibility for any and all trades placed on your account. Dont come crying if you loose money simply because the markets did what they wanted or you over leveraged your trade(s)
Name : MANUAL
Email : djvhdkjn!@sdfslj.fx
Login : 85843
Investor : yvsq5hv (read only password)
With that being said on with the show
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