Let’s review some live charts and look for the Support and Resistance levels. We’ll also look for possible entries according to these Support and Resistance levels.
Support/Resistance: 3rd Party Advertisement When you are in a down trend, you focus only on support levels… When you are in an up trend, you focus only on resistance levels… Supports A candle grouping of at least FIVE candles. The lower center candle or wick which has two higher candles on either side. […]
Contrarian trading: Traders buy an instrument which has been falling, or short-sells a rising one, in expectation that the trend (short-term) will change… Entering the market is crucial to the overall profitability of your account.
Market Cycle Timeframe: 7:30pm ~ 8:30pm NY Time (30 minutes to 4 Hours) 1:00am ~ 3:00am NY Time (30 minutes to 2 Hours) 6:45am ~ 8:00am NY Time (30 minutes to 1 Hour) 9:00am ~ 9:45am NY Time (30 minutes to 90 minutes) 11:00am ~ 12:00pm NY Time (30 minutes to 8 Hours) […]
Market Cycle Tips: If the trend is with you, go for more pips. If the trend is against you, go for 30 pips. Know your trade timeframe.
What to look for in order to trade Market Cycle? Look for a spike in the opposite direction. (REV) If you miss the spike, wait for reversal to be over and trade in the direction of the trend.
Long-Term Trend (From Current Event): Trade the News Report: Sterling was firmer against the majors with dealers attributing the strength to press comments from BOE’s Sentence. The central banker commented that the BOE had done enough to stimulate the UK economy and prompted a string of GBP short-covering. The BOE’s member hinted towards […]
Long-Term Trend (From Weekly Outlook): …United Kingdom (GBP) Current Interest Rate 0.50% Sterling will probably remain supported in the short run, as the strength of USD has subsided due to the last NFP release. I still believe GBP may be able to hold its own against USD better than EUR, just because the […]
Basic Market Cycle Trading Criteria: Identify the current trend Identify the long term trend Trade reversal or Trade trend
What is Market Cycle: Natural Rhythm of the market that occurs regularly on a daily basis. Understanding these patterns would provide a great advantage.
Market Cycle is the essential part of my trading system and if you can learn to just follow the rules of Market Cycle, this could really help you in your trading even if you don’t trade the news. As a contrarial trader, if market is going up, I would check on the Market Cycle before […]
Simple Rules to Profit from Risk Sentiment: SELL JPY or USD when the market is in risk appetite. BUY JPY or USD when the market is in risk aversion. It’s JPY & USD versus all majors. (Since both are safe-haven shelters) Basic Entry Criteria: Identify risk sentiment. Verify risk sentiment. Enter small position […]