Price action is the basis in Equity / Forex / Commodity Trading. It’s a methodology used for Financial Speculation , by many retail traders and some times big institutions where algorithmic trading is not implemented. There are various books available for learning Price action. I am uploading the best among them here. Read and Learn.
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MCX- GOLD UPDATE
GOLD AS PREDICTED FELL FROM THE SAID LEVELS.
http://lowbrokmcx.blogspot.in/2013/08/market-update.html
(Previous Post regarding GOLD)
There we mentioned "GOLD NOW TRADING AT 30300. ITS ABOVE ALL SUPPORT AREAS AND ARE LIKELY TO TOUCH NEXT RESISTANCE SEEING AT 30800-31100 IN COMING WEEKS."
STRATEGY :- SELL ON RISE NEAR 31000 FOR A TARGET OF 29500 OR BELOW."
Yesterday Gold Made a high of 31247 and today a low of 30240.. As mentioned on Previous Post Target Remains Intact at 29750-29780.
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Trend trading made easy
Long entry : 1- MACD must be above 0 line.
2- Price must be above Spat smooth Heinken Hashi
3- Cynthia entry stop turning from magenta to aqua (always wait for the bar to close and enter on next candle)
4- Stochastic oscillator pointing up
4- Look for additionnal informations from GG trendbar, signal, Ribbon trader, FerruFx multi info and Stratman minichart to see how is the trend going on other timeframes
5- Use the latest swing high for stop loss
6- Take profit when opposite signal from Cynthia entry stop or just use turtle strategy (it is your choice)
You can also use pivot points to take profits.
In my conclusion, I only use Weekly pivots and I only use Weekly supports and resistances too. My take profits are always based on weekly pivots and not daily pivots
Short entries: Opposite from long entries.
This system works on any pair, any timeframe.
I personally prefer xauusd, audusd and euraud as they are not as volatile as major pairs, so the risk to touch my stop loss is very minimal. On major pairs, you have to absolutely use the latest swing high or low as stop loss and not the cynthia entry stop as stop loss.
So in this strategy you have the entry, the stop loss and the take profit.
Good luck!
Www.lowbrokmcx.blogspot.in
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COMPARISION OF USD-INR WITH GOLD FOR THE LAST ONE YEAR.
PICTURE SAYS IT ALL. ISN’T IT.
GOLD NOW TRADING AT 1365 $ . NEXT SUPPORT IS SEEING AT 1395-1400 $ LEVEL.
DAILY RSI LEVEL AT 68
STOCH. AT 88
STRATEGY :- SELL ON RISE NEAR 1400$
LIGHT SWEET CRUDE OIL NOW TRADING AT 107.46. IMMEDIATE SUPPORT SEEING AT 108 $. BREAK OF 108 $ CAN TAKE CRUDE TO 110 $.
GOLD NOW TRADING AT 30300. ITS ABOVE ALL SUPPORT AREAS AND ARE LIKELY TO TOUCH NEXT RESISTANCE SEEING AT 30800-31100 IN COMING WEEKS.
STRATEGY :- SELL ON RISE NEAR 31000 FOR A TARGET OF 29500 OR BELOW.
COPPER NOW TRADING AT 462 LEVEL.
DAILY RSI IS OVERBOUGHT AT 83.
STRATEGY :- SELL BELOW 458 FOR A TARGET OF 448 –435.
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LEARN A – Z OF META TRADER USING THIS FILE. BE A PRO.
I AM SHARING THE FOLLOWING PDF ONLY FOR THE PURPOSE OF LEARNING. NO COPY RIGHT INFRIGMENT ARE SUPPOSED. COPY RIGHT GOES TO ALPARI
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LONG:
2.a Our entry is defined by:
- A Green arrow signaling an EMA cross /Entry Recommendation/
- A Whole candle closes above the 5 EMA (White) /Entry Confirmation/
2.b Our exit is defined by:
- A Red arrow signaling an EMA cross /Exit Recommendation/
- A Whole candle closes below 20 EMA (Green) /Exit Confirmation/
SHORT:
3.a Our entry is defined by:
- A Red arrow signaling an EMA cross /Entry Recommendation/
- A Whole candle closes below 5 EMA (White) /Entry Confirmation/
3.b Our exit is defined by:
- A Green arrow signaling an EMA cross /Exit Recommendation/
- A Whole candle closes above 20 EMA (Green) /Exit Confirmation/
If you find that topic is useful , please click on share in your social networks to support
Click here to DOWNLOAD
If you find that topic is useful , please click on share in your social networks to support
Click here to Download
If you find that topic is useful , please click on share in your social networks to support
Click here to Download
![GOLDMCX[5]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhn-kIITZ_XseonhEWoirXgZ3f_85uTlpD7ZH3TO32mA9M5JJ2Q_Y-CHdl9jkbfn8o6ErSFIxHDN-wocfoJDHBLGyKFGBZ1UBxCnqm-q0K-2FDZn1opnx8HN_2hFXmWq_kA_KoD7fvtOC3e/s1600-h/GOLDMCX%25255B5%25255D%25255B3%25255D.jpg "GOLDMCX[5]")
