- October 15, 2018
- Posted by: Forex Wiki Team
- Category: Forex Trading System
That is my first thread in ForexFactory. I'll strive my greatest to share and clarify to fellow merchants about my "Historical" Trading Technique. Why "Historical"?..As a result of, it solely primarily based on pure Worth Motion plus utilizing few instruments resembling Fibonacci Retracement & Enlargement and trendline...possibly on the later levels,harmonic sample (solely deal with 1 to 1 sample). After that I'll share few SOP / Plan / Strategies..
What I realized by studying lot of threads in right here:
1. Ultimately some individuals will ask me to connect TE or submit any proof that I commerce
profitably from the system.
- I commerce profitably utilizing the system,I haven't got to proof to YOU as I do not commerce utilizing
YOUR MONEY.Simply WALK AWAY for those who do not belief me.No want for private assault.
2. Some will ask for EA, indicator and template.
- I haven't got any working EA on the system.For those who capable of code EA primarily based on what I share
please share with me.
3. Few will turn into guardian angel with the 'intention' to guard beginner.
- I thank to those that have real intention to guard beginner. However for many who simply
need to showcase, please stroll away.
4. Few will come and attempting to disprove the system and attempt to proof their system is one of the best.
- What work for me, not 100% will work for everyone.Rely in your persona, buying and selling
model, every day life, self-discipline and so on...If not fit your model, please stroll away.
Let we start with XAUUSD chart beneath (previous worth motion) .I had marked on that chart with few symbols. Based mostly on that chart, what can we conclude?What buying and selling technique can we extract?
We begin with candle mark with YELLOW ARROW.Based mostly on that candle, we've to find out shopping for strain or promoting strain dominate the candle.Rule to find out shopping for or promoting as comply with:
1. Purchaser - measure from LOW to CLOSE of the candle
2. Vendor - measure from HIGH to CLOSE of the candle
and evaluate each portion for one candle then we are able to decide which aspect dominate that candle.
For instance:
When taking a look at candle with YELLOW ARROW,it clearly confirmed SELLER dominating it.Then, primarily based on that YELLOW arrow candle,we'll deal with SELLING for the next week.Apply the identical rule for consecutive weeks.Even when we enter blindly on the open of the market and shut at finish of the buying and selling session,11 out 18 week can be worthwhile.
Take note of candles marked with RED ARROW.Normally I'll referred to as that candles DOJI.When it DOJI, it imply NO TRADE for the next weeks.One option to choose pair to commerce.
For now, we solely deal with:
RESISTANCE - Weekly HIGH & Every day HIGH
SUPPORT - Weekly LOW & Every day LOW
For instance:
