Hi,
Any information in FX gives you an edge. It doesn't matter how small it is.
There have been a few jewels that I think have been very useful to me and I would like to share it with you. This has been useful to me so I believe it will be useful to some of you and hence the need to jott it down in ff.
1st Point -
Get SonicRPVACandle indi. Look for colored candles(red or green) and the gray(light gray/dark gray) candle following the colored candle. If the following gray colored candle closes down then the next candle(third candle) will close down with high probability.
2nd Point -
Volume analysis should always be done at Support and Resistance.
3rd Point -
Look at 500/1000 numbers, price consolidates around these numbers. These numbers are the center of gravity for price.
4th Point -
If price breaks through the high of previous daily candle then the trade bias for the day is long. Vice versa for Shorts.
5th Point -
At day open level price always fluff around.
6th Point -
Use ADX to gauge the strength of trend.
7th Point -
Always keep ADR in mind. If the price has traveled the ADR for today then do not open trade on extremes.
Volume analysis, ADR, ADX at Support/Resistance can help gain a lot of pips. These should not be traded alone and be a part of an already existing trading strategy.
I would like you to try these points analyse them and let me know what do you see?
Cheers,
Ravs
Any information in FX gives you an edge. It doesn't matter how small it is.
There have been a few jewels that I think have been very useful to me and I would like to share it with you. This has been useful to me so I believe it will be useful to some of you and hence the need to jott it down in ff.
1st Point -
Get SonicRPVACandle indi. Look for colored candles(red or green) and the gray(light gray/dark gray) candle following the colored candle. If the following gray colored candle closes down then the next candle(third candle) will close down with high probability.
2nd Point -
Volume analysis should always be done at Support and Resistance.
3rd Point -
Look at 500/1000 numbers, price consolidates around these numbers. These numbers are the center of gravity for price.
4th Point -
If price breaks through the high of previous daily candle then the trade bias for the day is long. Vice versa for Shorts.
5th Point -
At day open level price always fluff around.
6th Point -
Use ADX to gauge the strength of trend.
7th Point -
Always keep ADR in mind. If the price has traveled the ADR for today then do not open trade on extremes.
Volume analysis, ADR, ADX at Support/Resistance can help gain a lot of pips. These should not be traded alone and be a part of an already existing trading strategy.
I would like you to try these points analyse them and let me know what do you see?
Cheers,
Ravs