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Midas

GBPJPY: High Probability Turning Point?The probabilities are stacked on GBPJPY (to the short side) as price is about to reach the MIDAS R1 Curve a TD Price Flip below its TDST is near completion which is lining up with the Fresh Supply Zone marked in yellow making this a great trading opportunity. Momentum is also in overbought conditions creating a Bearish Divergence. MIDAS Trading Tools for MT4 is available to download at MQL5.com - Drag N´Drop features for better user experience are coming in the next update!
Short
by Carl_G
MIDAS with Japanese CandlesticksOne of my favourite trading strategies is using MIDAS with Japanese Candlesticks and here is the checklist on how to do it. 1) Identify a trend. (Higher highs and higher lows or lower lows and lower highs). 2) Launch a MIDAS curve from the beginning of the trend. 3) As price pulls back to the MIDAS curve, draw a line to identify price structure. 4) If price fails to break the MIDAS curve and then penetrates the price structure = Enter Position. 5) The Stop Loss is set to be just above/below the MIDAS curve. 6) As the trend develops, add further MIDAS curves (R1, R2 etc) and more positions with this strategy until, 7) you see price break the most recent MIDAS curve and fails to close above/below market structure (see chart) as this would strongly suggest that the trend is dying and/or a different market sentiment is coming in to play. 8) This is where you close out all your positions. Let me know if you have any questions, I will be posting real trade setups with this strategy so make sure to follow ! :) PM me if you want to get a free copy of the MIDAS Technical Analysis System. MIDAS Trading Tools for MT4 is available to download @ MQL5.com
by Carl_G
AUD/JPY: 1:2 Risk to Reward Opportunity AUD/JPY is about to reach the supply zone @ 78.5 which is lining up with the MIDAS R1 Curve (launched from 2016-07-15). Looking on the smaller time frame there is a TD 9 Price Flip on the 4 hour and a TD 13 Countdown on the 1 hour (TD-Combo) - increasing the odds of a reversal. Further odds enhancer is found in momentum, which is currently in the progress of making a bearish divergence. MIDAS Trading Tools for MT4 is available to download @ MQL5.com
Short
by Carl_G
New Zealand Dollar v US Dollar: MIDAS Technical AnalysisOn New Zealand Dollar v US Dollar price have made one leg to the downside (X-1) and have now pulled back to the MIDAS R1 Curve which happens to line up with 4HR Supply and Resistance (Blue Horizontal Line). The MIDAS Support Curve S1 have now become RESISTANCE as price made its first leg to the downside - terminating the uptrend. Momentum is also showing signs of upcoming bearish momentum in form of a bearish divergence in overbought conditions. MIDAS Trading Tools for MT4 @MQL5.com
Short
by Carl_G
14
GBP/USDThe Bulls has only won half the battle. MACD is neither an angel nor the devil. Same thing as usual, adjust your aperture and monitor the movement from there. If this cross is successful it should be worth 300-400pips on a 4h chart. You can set your profit target there. Once it hits, it will begin to go sideways as per what we are seeing on the hourly chart which is worth 150-200pips. Once target is hit the sideways retrace can be from 30-60% (fibo numbers). Based on this; if you are trading on an hourly chart and cannot take a 60pip retrace then that chart is not suitable for your trade.
by dericksim
1
GBPUSDSeems that the past few days GBP always gets sold down during Asian hours whilst the British are sleeping. With the market weighing extremely on one side, a reversal could trigger an avalanche. Covering the GAP to me is a given and bears who short there will get slaughtered. 1.4 is a key level to watch, which happens to be weekly RSI 50 level. this is only a relieve rally so do not overstay your welcome. UK GDP and FED should give some room towards the upside for everything till the Mark Carney comes along and spoils the party for everyone. Cheers and happy trading.
by dericksim
1
USOILWTI is 34 bars since the last MACD cross and it is the last line of defense using MIDAS. It is about time for a rebound, rebound target would be RSI(14) 50 level which is about 46. At this level, it should produce a MACD gold cross as well. We have to be wary of this cross as a dead cross below is deadly and should bring us to the final target of RSI 30 level. I do not think the MIDAS will hold on daily as the retrace is happening on weekly chart. Hence a lower target of $40-41 is more probable which is the MIDAS support on weekly chart. Finally this rebound is best captured on the hourly chart.
FX:USOIL
by dericksim