ANALYSIS ~ free forex news trader ea
GBPUSD MPAA - The best time to begin to look for short is between April- June (Wait) 1000 PPAA: 1.6270-1.630 is the place to short (wait) Weekly - The weekly candle has been consolidating since Jan. 29. The valid weekly pins were pins were given on the 2nd & 26th of February Daily Trade Friendly Chart: - The sell signal was given on the 1st and 8th of February EURUSD MPAA - The best time to begin to look for short is between April- June (Wait) 1000 PPAA: 1.3600-1.3630 is the place to short (wait) Weekly - The weekly candle has been bouncing between 1.300 - 1.3500 for about 5 weeks. The valid weekly pin was given on 19th February. Daily Trade Friendly Chart: - The sell signal was given on 24th of February GBPJPY MPAA - The best time to begin to look for short is between April-June (Wait) 1000 PPAA: 130-133 is the place to short - 135 is the round figure (wait) Weekly - There is no pin on weekly candle yet, where this week candle closes will determine whether we will have a pin at 133.48 (Wait) Daily Trade Friendly Chart: - The sell signal was given on 16th of March 133.48 My parameters for trading The general guide on these parameters is available on the mindset of a successful trader. What I will provide here are the practical elements of the mindset. Trading should be guided by clear parameters. If these parameter are not met, there is no point entering a trading. Here are my trading parameters now in the order of priority: 1. Monthly Price Action Analysis (MPAA) - There are clear months for long and clear months for short. Read my posting on MPAA to understand this circle 2. 1000 Pips Price Action Analysus (PPAA) - Major players trade 1000 pips. For short term trades divide the 1000 pips into 4 equal parts of 250 pips. You can begin to look for long in the first 250 pips and long in the last 250 pips. Personally I prefer the first 150 pips and the last 150 pips. For the Yen pairs extend the 1000 pips to between 1300-1500. 3. Trade Weekly pins - If there are not signals in the first and second parameter, the weekly pins (topmost and bottoms) will give you clear signals concrete zones. Concrete zones could be between 300 to 500 pips. You short as close as possible to the top of the concrete zone and buy as close as possible to the bottom of the zone. Pins after about 3-4 weekly candles are most reliable. 4. Daily Trade Friendly chart: If there is no signal on MPAA and 1000 PPAA and you want to trade for 200 pips or less check the daily trade friendly chart, a touch of the red zone is a good signal to sell, while a touch of the yellow zone is a reliable signal for buy. It is usually more profitable to trade in the direction of the weekly. If you sell when the trend is up on the weekly chart, take profit on the touch of 50 points on the daily RSI. If you buy when the trend is still down on the weekly take profit on the touch of 50 Points on daily RSI 5. 50 Pips Price Action Analysis: No matter the parameters you are using go to 50PPAA to actually place trades, that way you gets trades at the best discount. I attach some charts, but will find time and attach more later.
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