Hello Traders.
I open this threat to discuss S&R levels to enter and exit trades. I have been researching and found out that 60% of the total volume of Forex is managed by 6-7 global banks. Then researched that this banks are the ones that drives the support and ressistance levels..so, knowing this, I will go with the historical trades from them!
The strategy I have been analyzing is to pull out the R&S Levels from the 4 hour charts and apply them to the 15 min charts.
I am trading EUR/USD and USD/JPY only. I will post Resistance and Support levels at 7:15-7:30 US EST everyday when possible and then give an overall explanation of winnings and losses at the end of the day using them.
Certainly useful comments and advices are more than welcome.
Today's levels:
EUR/USD
Resistance:
1.4330 from 6/02 10:00 +60 pips today
1.4299 from 7/27 22:00 +20-25 pips
Support:
1.4225 from 8/02 22:00 NOT TOUCHED
--------------------------------------------------------
USD/JPY
Resistance:
95.80 on 7/30 10:00 +55 pips today!!!
96.30 on 6/29 14:00 +120 pips today!!!!
96.70 on 5/19 and 6/01 NOT TOUCHED
Support:
95.15 on 6/26, 8/01 and 8/11 +20-25 pips
Let me put a small disclaimer: This signals are my personal opinion and they carrie a risk of loosing when using them.
my loss radio is between 20 and 30 pips depending on how I see the rate.
Good trading to everyone!
Rod
I open this threat to discuss S&R levels to enter and exit trades. I have been researching and found out that 60% of the total volume of Forex is managed by 6-7 global banks. Then researched that this banks are the ones that drives the support and ressistance levels..so, knowing this, I will go with the historical trades from them!
The strategy I have been analyzing is to pull out the R&S Levels from the 4 hour charts and apply them to the 15 min charts.
I am trading EUR/USD and USD/JPY only. I will post Resistance and Support levels at 7:15-7:30 US EST everyday when possible and then give an overall explanation of winnings and losses at the end of the day using them.
Certainly useful comments and advices are more than welcome.
Today's levels:
EUR/USD
Resistance:
1.4330 from 6/02 10:00 +60 pips today
1.4299 from 7/27 22:00 +20-25 pips
Support:
1.4225 from 8/02 22:00 NOT TOUCHED
--------------------------------------------------------
USD/JPY
Resistance:
95.80 on 7/30 10:00 +55 pips today!!!
96.30 on 6/29 14:00 +120 pips today!!!!
96.70 on 5/19 and 6/01 NOT TOUCHED
Support:
95.15 on 6/26, 8/01 and 8/11 +20-25 pips
Let me put a small disclaimer: This signals are my personal opinion and they carrie a risk of loosing when using them.
my loss radio is between 20 and 30 pips depending on how I see the rate.
Good trading to everyone!
Rod