Day Chart Stress FREE - Complete Chart (Day Chart Stress FREE - Complete Chart)
Hello,
Premise: I'm new here and I'm testing this system that works for me... I open new threads for opinions, criticisms, ideas and bug corrections and I will explain the system I use on a monthly basis, combining the two systems on the forum to give me a very clear idea of what to expect.
I checked the charts 3 times a day, at 8:45am CET (15 minutes before London opens), 2:45pm and 8:45pm, 5 minutes each time and I quickly checked all the currencies.
Green bars indicate the main trend is up
Tomato sticks mean decreased motivation
Blue bars indicate rising momentum
Then there are the orange candle sticks from Little Bear Candle
Light blue candle holder from Bull Candle
1. In the upper left corner, let me know all timeframes
2. All currencies are strengthening...this tells me what is happening in all markets and when currencies are too weak or too strong (this alone does not help)
3. When this happens, I start monitoring more frequently in order to close the position or open another one (no action has been taken yet)
4. (3.) The blue or red arrow after (3.) is mainly when I decide to enter (check how long the candle is) sometimes it is already halfway and may be pulled back, in which case it is better to wait (if you don't understand, please ask)
5. The main trend changes from red to green and momentum changes from red tomato to blue (second entry or entry point), which confirms the direction
6. Not every time (3.) appears it is a take-profit point or an entry point to the opposite side...it may rise more....(see points 1 and 7)
7. The yellow line shows you the difference from when it appeared (3.) and the future trend. If you open a position with SELL you will not profit or lose more than 200 pips This is the template and indicator I use
You can find the first system: http://www.forexfactory.com/showthread.php?t=610970
Second one: http://www.forexfactory.com/showthread.php?t=629608
I'm using new charts, check out post 141
Premise: I'm new here and I'm testing this system that works for me... I open new threads for opinions, criticisms, ideas and bug corrections and I will explain the system I use on a monthly basis, combining the two systems on the forum to give me a very clear idea of what to expect.
I checked the charts 3 times a day, at 8:45am CET (15 minutes before London opens), 2:45pm and 8:45pm, 5 minutes each time and I quickly checked all the currencies.
Green bars indicate the main trend is up
Tomato sticks mean decreased motivation
Blue bars indicate rising momentum
Then there are the orange candle sticks from Little Bear Candle
Light blue candle holder from Bull Candle
1. In the upper left corner, let me know all timeframes
2. All currencies are strengthening...this tells me what is happening in all markets and when currencies are too weak or too strong (this alone does not help)
3. When this happens, I start monitoring more frequently in order to close the position or open another one (no action has been taken yet)
4. (3.) The blue or red arrow after (3.) is mainly when I decide to enter (check how long the candle is) sometimes it is already halfway and may be pulled back, in which case it is better to wait (if you don't understand, please ask)
5. The main trend changes from red to green and momentum changes from red tomato to blue (second entry or entry point), which confirms the direction
6. Not every time (3.) appears it is a take-profit point or an entry point to the opposite side...it may rise more....(see points 1 and 7)
7. The yellow line shows you the difference from when it appeared (3.) and the future trend. If you open a position with SELL you will not profit or lose more than 200 pips This is the template and indicator I use
You can find the first system: http://www.forexfactory.com/showthread.php?t=610970
Second one: http://www.forexfactory.com/showthread.php?t=629608
I'm using new charts, check out post 141
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