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1ST - MACD TREND FOLLOWING STRATEGYQUESTION - WHAT ARE THE BEST FOREX TRADING STRATEGIES? 1ST - MACD TREND FOLLOWING STRATEGY Step #1: Wait for the MACD lines to develop a higher high followed by a lower high swing point. This is an unorthodox approach to technical analysis. But, we at Trading Strategy Guides.com are different. We don’t mind doing uncomfortable things if that’s what it takes to succeed in this business. First, let’s visualize how an authentic swing point really looks on the MACD indicator: The first rule of thumb to recognize a swing high on the MACD indicator is to look at the price chart if the respective currency pair is doing a swing high the same as the MACD indicator does. A higher high is the highest swing price point on a chart and must be higher than all previous swing high points. While a lower high happens when the swing point is lower than the previous swing high point. Step #2: Connect the MACD line swing points that you have identified in Step #1 with a trendline. At this point, we really ignored the MACD histogram because much of the information contained by the histogram is already showing up by the moving averages. Look at the price action now and compare it to our MACD trendline we drew early. We can clearly notice that the MACD contains the price action much better and reflects the trend much clear. But, at this point, we’re still not done with the MACD indicator, which brings us to the critical part of our MACD Trend Following Strategy. Step #3: Wait for the MACD line to break above the trendline. (Entry at the market price as soon as the MACD line breaks above). When the MACD line (the blue line) crosses the signal line (the orange line) it’s an early signal that a bullish trend might start. However, if trading would be that easy we would all be millionaires, right? And that’s the reason why our MACD Trend Following Strategy is so unique. We’re not only waiting for the MACD moving averages to cross over but we also have our other criteria for the price action to break aka the trend line we drew early. This is a clever way to filter out the false MACD signals, but you have to be equipped with the right mindset and have patience until all the piece of the puzzle come together. If you were to trade just based on the MACD crossover over time you’ll lose money because that’s not a reliable strategy. But if you use the MACD indicator along with other criteria such what this strategy tells you to do, you will find great trade entries on a consistent basis. Step #4: Use Protective Stop Loss Order. (Place the SL below the most recent swing low). Now, that you already know how to enter a trade at this point you have to learn how to manage risk and where to place the SL. After all, a trader is basically a risk manager. You want to place your stop loss below the most recent low, like in the figure below. But make sure you add a buffer of 5-10 pips away from the low, to protect yourself from possible false breakouts. Did you notice? The MACD Trend Following Strategy triggered the buy signal right at the start of a new trend and what is most important the timing is more than perfection. We bought EUR/USD the same day the bullish divergence trend started. Now, what this has to do with the SL? Basically, a good entry price means a smaller stop loss and ultimately it means you’ll lose a lot less comparing it with the profit potential, so a positive risk to reward ratio. Step #5: Take Profit when the MACD crossover happens in the opposite direction of our entry. Knowing when to take profit is as important as knowing when to enter a trade. However, we want to make sure we don’t use the same trading technique as for our entry order. When the MACD line (the blue line) produces signal line crossovers (the orange line) we want to close the position and take full profits. Before taking profits, it’s important to wait for the candle close – either the 4h or the daily candle – depending on the time frame you trade so you make sure the MACD crossover actually happens. Note** The above was an example of a buy trade using the MACD Trend Following Strategy. Use the exact same rules – but in reverse – for a sell trade. Conclusion: The MACD Trend Following Strategy is a very simple trend following strategy and yet a very profitable strategy at the same time. As the saying goes, “The trend is your friend” and no matter if you’re just starting as a Forex trader or you’re already an established trader life is much easier when trading in the direction of the line of least resistance rather than fighting the trend which is a loser’s game. The success behind the MACD Trend Following Strategy is derived from one simple principle: momentum precedes price.
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by Tradingstrategyguides
3
EURJPY 1H SCHIFF PITCHFORK LONG TRADING STRATEGYThe Andrews Pitchfork Trading Strategy Our team at Trading Strategy Guides likes to use the Pitchfork trading system to identify a change in market behavior and make a profit from it. It’s important to understand what Andrews Pitchfork is and what pivots to use. This will give us more confidence later when taking the trades based on the Pitchfork trading system. Moving forward, we present the buy-side rules of the Andrews Pitchfork trading Indicator. Step #1: Identify the Three Pivot Points necessary to Draw the Pitchfork lines. The first thing you need to establish for the Pitchfork trading system is to identify three pivot points necessary to draw the Pitchfork lines. For more insights into this topic, check out the what is Andrews Pitchfork section. Since we’re looking for buying opportunities, we need to identify a series of rising pivot points. Step #2: Apply the Pitchfork indicator starting from Pivot 1 and move through Pivot 2 and Pivot 3. Now, use the three pivots identified and draw the Pitchfork trading system lines by connecting the pivots together. Start from Pivot 1 and move forward through Pivot 2 and Pivot 3. During this stage, you’ll be plotting the Pitchfork trading system lines. This will map the most important dynamic support and resistance levels. Once you’ve done this correctly you will see a rectangle or pitchfork formed. Step #3: Buy at the market at the first retest of the lower Pitchfork support trendline. With the Andrews Pitchfork trading strategy, the price should be contained inside the Pitchfork parallel channel. In this regard, if we’re looking for buying opportunities, assume the lower Pitchfork support trendline to hold the price for a bounce. We recommend buying when the lower Pitchfork support trendline is tested. The next logical thing we need to establish for the Andrews Pitchfork trading strategy is where to take profits. Step #4: Take Partial Profit at the Median Line, and Take Profit 2 at the upper Pitchfork Resistance trendline. The Pitchfork trading system gives you the flexibility to manage your trades in many different ways. Our mantra is, “Keep it Simple, Stupid.” In this regard, since the core principle of the Andrews Pitchfork trendline is that price tends to gravitate towards the median line, it’s the logical place to take some profits off the table. We only take partial profits on the median line because we also want to maximize our profits. This will give the market a chance to retest the upper Pitchfork resistance trendline. With the Andrews Pitchfork trading system, we’re trading in the direction of the trend. So, the expectation is to see the price moving higher and eventually retest the upper Pitchfork limits. Note: After TP1 was reached, move your SL at BE. We accomplish two things by doing this. First, we make sure that we accumulate profits. And secondly, if the markets reverse, make sure you stopped at BE and don’t lose any money. The next important thing we need to establish is where to place your protective stop loss. Step #5: Place the Stop Loss below the lower Pitchfork trendline and add a buffer of 20-30 pips. The recommended place to hide our protective stop loss is by adding a buffer of 20 – 30 pips below the lower Pitchfork trendline. Normally, in an uptrend, the support Pitchfork trendline should hold the price above. However, in order to protect ourselves from possible false breakouts, we’ve added a buffer of around 20-30 pips to our protective stop loss. Note* In a strong uptrend, it’s quite normal for the price to break and trade above the resistance Pitchfork trendline. Inversely, in a strong downtrend, it’s quite normal for the price to break and trade below the support Pitchfork trendline. Andrews Pitchfork Trading Strategy Conclusion There are many Andrews Pitchfork trading strategies that can be built around the Pitchfork trading system lines. They can all be simply derived from the Pitchfork’s trading rules. In order to use this system, you need to understand what Andrews Pitchfork is. You can also read our best short-term trading strategy. Andrews Pitchfork is simple to understand because, according to the Pitchfork trading system principles, you only need to know these three rules: Price tends to gravitate towards the median line. When price breaks the median line there is a high chance it will pull back to retest again the median line. When price breaks the Pitchfork channel on the opposite side of the channel direction, there is a shift in market sentiment and the trend can reverse.
Education
by Tradingstrategyguides
How to use Central Pivot Range (CPR)In this post I demonstrate how you may use Central Pivot Range (CPR) to find the best entries. CPR is leading and static indicator that opens ahead of day. It acts as support or resistance during trends. Price usually pulls back to CPR in trending markets. In fact, any pivot is a Fibonacci retracement level (33.3 or 66.6) from the previous low (33.3) or high (66.6). This is not holy grail, CPRs are often pierced as you see, but it will be a helpful tool in your analysis. Blue - weekly CPR Black - daily CPR 1 Day, week opens BELOW CPR look for shorts. 2 Day, week opens ABOVE CPR look for longs. 3 Day week opens WITHIN CPR prepare for ranging market. As you see thin CPRs are forecasters of volatility. With thin CPR, there is also more likelihood that it will be pierced. Average size CPR is more solid and less prone to be broken on the other hand. Very wide CPR often predict range within. You may also use yearly and monthly CPRs in the same manner. GOOD LUCK!
Education
by ICFX
1
EURJPY – Sellers on the way to test lower levelsWelcome to our Academy. We’re here to help you achieve what you have been looking for. Use our free analysis where you have everything you need for potencial trade ideas and profit. EURJPY – Sellers on the way to test lower levels Trend: Sell/ Neutral Support/Resistance: R4: 122.496 R3: 121.361 R2: 120.900 R1: 120.774 S1: 119.947 S2: 119.230 S3: 118.496 Price action: At the momentu Eurjpy currency pair is between decisional are. This trade might take time to decide bullish continuation or bearish trending reversal. To follow this trade, we can say that price is still in buyers territory but bears are headed to achieve following target. If price will go berish way, then sellers have to broke first support and then they are going likely to test 118.496 strong buyers level. If the price get denied, then we can fall into a range flow for a while. Potencial trade idea: Bulls targets: T1: 122.496 Bears targets: T1: 119.947 T2: 119.230 T3: 118.496 NOTE – We are trading EURJPY via the preferred trading setups by EliteFxAcademy Disclaimer : Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course. Keywords: Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education Good trading! Elitefxacademy
Education
by EliteFxAcademy
4
EURJPY – Price is at waiting bullish momentWelcome to our Academy. We’re here to help you achieve what you have been looking for. Use our free analysis where you have everything you need for potencial trade ideas and profit. EURJPY – Price is at waiting bullish moment Trend : Strong Buy Support/Resistance: R5: 124.680 R4: 123.517 R3: 123.392 R2: 122.526 R1: 121.751 S1: 121.354 S2: 119.996 Price action: This currency pair is at the moment on very strong bullish edge. Because we can't decide yet, it is better to wait for finnal Elite strategy sign. For everyone who is not yet Elite member we recomend that price broke First resistance level and then test Second resistance level. If Buyers are able to break second important resistance level which is marked as last daily higher high, then price is expected to see following targets. Potencial trade idea: Bulls targets: T1: 122.526 T2: 123.392 T3: 123.517 T4: 124.680 Bears targets: T1: 121.751 NOTE – We are trading EURJPY via the preferred trading setups by EliteFxAcademy Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course. Keywords: Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education Good trading! Elitefxacademy
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by EliteFxAcademy
HOW TO FIND CHEAP ENTRY SIGNAL FOR RISKRETURN LIKE 1:10 AND MOREHI BIG PLAYERS, in this tutorial I want educate you my experience, how to find really cheap entry for trading. In this example it was possible to take part on a 1:10 trade. It means for 1 USD investment you could take 10 USD return (Risk-Return-Ratio => RRR). ///////////////////////////////////////////////////// E X A M P L E F O R A B U L L I S H T R E N D ///////////////////////////////////////////////////// At the beginning we are looking for an oscillator, that shows us an oversold area and in the same time a bullish trend with higher and faster EMA than a slower EMA on the chart. This is possible with a slow EMA(close, 200) and a fast EMA(close, 50) and a RSI(close, 14).... => this is for example my way to find it on the Forex Screener from TradingView at fast as possible. I developed a similar structure with more quality signals with my candle oscillator indicator. Named: CO 'I. This indicator allows to see the candle between a range und works at well like the RSI oscillator with 30% and 70% oversold and overbought area. The most positive on this indicator, you don't only see the closing relating price - you see almost more: open, high and low. Furthermore, I found out that if the body of a candle goes into the range between 30-70% and this is the same trenddirection in the chart, then it was to 90% the lowest/highest bar or 3+ bars nearby them. So back to my education: My main view starts on 4H Chart. In this example I found on EUR/JPY a bullish trendfilter with the EMA's and a oversold area on my OC 'I (the wick of the candle was touching the 30% line) - it's only necessary that a touching of the candle is true. NEXT STEP: After this bullish signal it is necessary to zoom in the lower timeframe. Here I choosed the 1H Chart and had to wait till the body of the OC 'I also touched the 30% line and of course wait till the candle is finished. It don't depend how much the body touch the 30% line - but it's necessary that the body is touching. In addition, a bullish divergence was built (looking to blue lines). After the first touching I go into a lower timeframe again. The 15H-Chart was choosed for this example. Hereby the same game: waiting till the body is touching the 30% line. NOTE: furthermore, if I going into the lower timeframe and the body is already touching - then you don't need to wait for the relase into the range and back to touching again the 30% line. The 15MIN Chart is the last timeframe. Now we wait till the body goes up and don't touch any line. This is my signal to buy. My exit depends always how the market flow are: in this case it was a big uptrend and a adapting correction wave (this is mostly the time for divergence and this why I set a takeprofit on this high). With this approuch it was possible to catch a 1:10 trade. Kind regards NXT2017
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by NXT2017
EURJPY – Jpy currency is still in weakness, while buyers might pEURJPY – Jpy currency is still in weakness, while buyers might push higher Trend: Strong Buy Support/Resistance: R4: 122.163 R3: 121.717 R2: 121.381 R1: 121.069 S1: 120.400 Price action: Buyers might continue this trend after they break and hold above first resistance, if they're enough strong. First hard and slow target is at 121.381 level. If buyers will go forward, then trending way will follow buyers power. Potencial trade idea: Bulls targets: T1: 121.381 T2: 121.717 T3: 122.163 NOTE – We are trading EURJPY via the preferred trading setups by EliteFxAcademy
Education
by EliteFxAcademy
Our Elliott Wave 5th Wave Target Zone Hit on EURJPY Earlier today we made a quick education video discussing the tools in our indicator suite and how to use them to trade the high probability 5th wave moves. We used this EURJPY example as it was setting up. The orginal video can be viewed >>HERE<< This next video is a follow to show our automated 5th wave target zone has been hit, completing a great Elliott 5th Wave trade on the 5 minute time frame for EURJPY. Watch the video tour of our Elliott Wave Indicator Suite >>>HERE<<<
Education
by xBratSoftwareSolutions
3
EURJPY Day Trade *LEARN TO DAY TRADE FX CURRENCIES*Here is another example of how to day trade FX currencies using a simple combination of Daily Pivot Points , 2x EMA's and the trendline tool on TradingView. The first entry is based on the bullish trendline being broken and a retested. A lower low was made with the break of the TL and therefore this retest was a new lower high signalling a trend reversal. Price also rejected the daily pivot level and the 15 minute 50EMA. Because this is a fresh trend reversal, the 200 and 50 EMA's were not aligned but that is quite often the case with this style of entry. Stop Loss is always placed 10 pips above the current high. Target 1 is always the daily S1 level. If price manages to break through here with some momentum then it is highly likely that it will reach the daily S2 or even S3 levels. If you hold the trade to these levels then your R:R ratio will be increased dramatically. The second trade opportunity came a day later. This entry is again based off of price rejecting the daily pivot level but it had done this 3 times in the same day so it is safe to assume that the Pivot level is acting as a strong resistance. The 50 and 200 EMA's were aligned and confirming a bearish trend (50 below 200) and the 15 minute timeframe chart had made a flag continuation pattern. Stop Loss is always placed 10 pips above the current high. Target 1 is always the daily S1 level. If price manages to break through here with some momentum then it is highly likely that it will reach the daily S2 or even S3 levels. If you hold the trade to these levels then your R:R ratio will be increased dramatically.
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by UnknownUnicorn772665