This is my first real post. Have messed about on the CAC 40 (stocks, indexes, warrants, futures, etc.) for about 10 years without making much progress.
Have been trying forex trading with cfd's for a few weeks now and what seems to work for me is as follows:
1 min time frame on currency pairs showing volatility and having the steepest slopes. I use an EMA65 with visual judgement of the slope. Try to identify Elliot waves 1,3 and 5. If you can't, it doesn't really matter. I enter on candlestick interpretation with occasional help from fractal indication. 1 min candles contain just as much information as, say, hourly ones, provided there's sufficient volume. Exit in the same way. It's very simple and seems to work best on the JPY pairs, which are fairly volatile and orthodox in their construction. On a steep slope, I had 50 pips on one trade yesterday.
Now I'm really going to stick put my neck out.
Predicted major support and resistance levels, according to me, for EURUSD for the coming week are:
1.4807, 1.4740, 1.4710, 1.4673, 1.4613, 1.4553, 1.4516.
These are calculated values. The calculations have proved themselves very accurate recently on EURUSD and GBPJPY
Have been trying forex trading with cfd's for a few weeks now and what seems to work for me is as follows:
1 min time frame on currency pairs showing volatility and having the steepest slopes. I use an EMA65 with visual judgement of the slope. Try to identify Elliot waves 1,3 and 5. If you can't, it doesn't really matter. I enter on candlestick interpretation with occasional help from fractal indication. 1 min candles contain just as much information as, say, hourly ones, provided there's sufficient volume. Exit in the same way. It's very simple and seems to work best on the JPY pairs, which are fairly volatile and orthodox in their construction. On a steep slope, I had 50 pips on one trade yesterday.
Now I'm really going to stick put my neck out.
Predicted major support and resistance levels, according to me, for EURUSD for the coming week are:
1.4807, 1.4740, 1.4710, 1.4673, 1.4613, 1.4553, 1.4516.
These are calculated values. The calculations have proved themselves very accurate recently on EURUSD and GBPJPY
