- April 4, 2019
- Posted by: Forex Wiki Team
- Category: Forex Trading System
welcome to this new thread
The Concept for this thread is to share the Purchase or promote setups shaped available in the market for all pairs based mostly on the candlestick sample formation on main fib ranges(FIBSTICKS). the timeframe must be must be minimal one hour and we use the COT report for the path
Purchase setup
1. candlestick sample on or under 61.8, 50 or 38.2 fib ranges
2. test the COT report whether or not it helps for purchase or not
3. the TP is 138.2 or 161.8 fib extensions of earlier swing
4. SL should be 20 to 30 pips under the latest low
Promote setup
1. candlestick sample on or above 61.8, 50 or 38.2 fib ranges
2. test the COT report whether or not it helps for promote or not
3. the TP is -38.2 or -61.8 fib extensions of earlier swing
4. SL should be 20 to 30 pips above the latest low
Right here is the most recent COT report
In COT report the Non commercials are the bankers. They transfer the market as per their positions.
The Commercials are the company corporations who usually hedge the costs to cut back the danger for his or her worldwide exercise.
we have to give attention to Non commercials positions
EURCAD
sellers TP reached. doable for a retracement there
Earlier day was reversal and purchase setup in H4 timeframe
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