FOREX Market Reversal Levels

Hello all,

Yikes - my 100th post already! Me and my big mouth..... http://cdn.forexfactory.com/images/s..._the_floor.gif

Anyway, still alive and trading! I know the experts say that you should start trading on the higher time frames and then work down to day trading. In my case, I think I am doing things backwards (wouldn't be the first time!)

For personal reasons, I am trying to spend less time in front of the screen. I could never give up trading after all these years, I just need to spend less time on it.

So I am basically using H4/D1 charts only now, with the occasional peek at the ultra-high-speed H1 chart to refine entries. I am trying to go for the longer terms moves, and so I am basically interested in the Monthly and Weekly FMRL lines, particularly when you get a confluence. GBPJPY has moved up 500 pips or so the the confluence of Monthly(+1) and Weekly(+1) and stopped dead around 137.10.

Confluence of Weekly/Monthly is very powerful and is nearly always respected by the market to a pip or so.

By the way Ray, I am pretty sure you CAN have external parameters on a script. I have several scripts with external settings. When you drag the script onto the chart, the External settings box comes up. You just put in what you want and press OK. Then the script runs just once in the normal way.

You just need to put

#property show_inputs

at the top of the script.

Best regards,

Old Dog

Many thanks, Old Dog, you are quite right.

Great,

Experts helping other experts.

Andrew

Tuesday 5 April March 2011 - 410 pips on five pairs

FMRL accurate resistance, support and reversal levels


Below are five of yesterday's charts showing FMRL & Fisher trades.

They are 15m charts and Fisher setting is 32 periods.


These are imaginary trades. They have not been traded by us.

The simple FMRL & Fisher method is explained in our first post.

It's our attempt to help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.


FMRL numbers are only available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 110 pips



GBPUSD - 100 pips



EURJPY - 110 pips



USDJPY - 30 pips



USDCHF - 60 pips

I added the property line and it allows me to change inputs, but not to actually set which TF's to use??

Did you get it to allow TF choice rayclarke?

Thanks.

I don't want to produce a script that has parameter input to it, as it will always ask you for input, even if you want to just take the defaults. I like being able to do a quick drag-n-drop on each chart - really quick to do.

I have produced a version of the script that paints the lines on the chart, but doesn't label the lines. If you want to use the "FMRL delete lines" script, this works on either version.

Try it and see if that's a good compromise.

Wednesday 6 April March 2011 - 410 pips on five pairs

FMRL accurate resistance, support and reversal levels


Below are five of todays charts showing FMRL & Fisher trades.

They are 15m charts and Fisher setting is 32 periods.


These are imaginary trades. They have not been traded by us.

The simple FMRL & Fisher method is explained in our first post.

It's our attempt to help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.


FMRL numbers are available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 100 pips



GBPUSD - 50 pips



EURJPY - 100 pips



USDJPY - 60 pips



USDCHF - 100 pips

Thursday 7 6 April March 2011 - 40 pips on five pairs

FMRL accurate resistance, support and reversal levels


Below are five of yesterday's charts showing FMRL & Fisher trades.

They are 15m charts and Fisher setting is 32 periods.


These are imaginary trades. They have not been traded by us.

The simple FMRL & Fisher method is explained in our first post.

It's our attempt to help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.


FMRL numbers are available to subscribers.

To subscribe see the first post in this thread.


EURUSD



GBPUSD



EURJPY



USDJPY - 40 pips



USDCHF

I make a lot of pips on my imaginary trades too.

Signing out of this thread. Bye.

Friday 8 April March 2011 - 610 pips on five pairs

FMRL accurate resistance, support and reversal levels


Below are five of today's charts showing FMRL & Fisher trades.

They are 15m charts and Fisher setting is 32 periods.


These are imaginary trades. They have not been traded by us.

The simple FMRL & Fisher method is explained in our first post.

It's our attempt to help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.


FMRL numbers are available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 120 pips



GBPUSD - 170 pips



EURJPY - 150 pips



USDJPY - 90 pips



USDCHF - 80 pips

How are you getting on with the Fisher indicator?

EURJPY looks lively this morning ... going down ... or just oscillating ..

Monday 11 April 2011 - 170 pips on five pairs

FMRL accurate resistance, support and reversal levels

Below are five of today's charts showing FMRL & Fisher trades.

They are 15m charts and Fisher setting is 32 periods.

The simple FMRL & Fisher method is explained in the first post.

It's our attempt to help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.

FMRL numbers are available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 30 pips



GBPUSD - 60 pips



EURJPY - 30 pips



USDJPY - 20 pips



USDCHF - 30 pips

Tuesday 12 April 2011 - 930 pips on five pairs

FMRL accurate resistance, support and reversal levels

Below are five of today's charts showing FMRL & Fisher trades.

They are 15m charts and Fisher indicator setting is 32 periods.

The simple FMRL & Fisher method is explained in the first post.

We hope it will help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.

FMRL numbers are available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 110 pips



GBPUSD - 200 pips



EURJPY - 350 pips



USDJPY - 150 pips



USDCHF - 120 pips

STILL SCAMMING HUH?


I've already Uploaded the Indicator in a previous post in this Thread

Thursday 14 April 2011 - 450 pips on five pairs

FMRL accurate resistance, support and reversal levels

Below are five of today's charts showing FMRL & Fisher trades.

They are 15m charts and Fisher indicator setting is 32 periods.

The simple FMRL & Fisher method is explained in the first post.

We hope it will help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.

FMRL numbers are available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 90 pips



GBPUSD - 100 pips



EURJPY - 180 pips



USDJPY - 30 pips



USDCHF - 50 pips

Hello Guys (and ladies)

Here ia ANOTHER one of my (Sit back and wait for it) kind of setups.
You'll notice it's a common setup that I always look out for. I do trade technichals, but I'm more into the phsychology of the herd. The Big Dogs (Pardon the pun old dog ;-) KNOW where the standard stop losses and all those other curve fitted and squigly indicators are and do.

Here is a trading plan for those struggling...
Look at the chart along with others I've posted previously.
Use the 30 minute chart as I do.
When PA reaches a FMRL take the trade in the opposite direction (Try and stay with the trend though) place an avearge of 20-30 pip stoploss (Enough on a 30 minute chart)

If you've traded off the same FMRL line twice DO NOT use it again for the rest of the week!
Any line you've traded off twice in the week, change it to a different colour so you can spot it easily enough.

I know quite a few of you are using the Fisher Indicator.
If it works for you then carry on, but look at any chart of any of the serious players..they dont use things like that. train your eyes to spot true price action. By the time these so called curve fitted indicators fire off a signal, you probably could have taken 20 pips already. This is just my two cents. If you need to used any additional indicators, I suggest you get used to using some kind of volume indicator. Volume can not lie, and when used properly it is a great asset to your trading arsenal.

Trading is great but you have to earn the market's respect!
:-)

Friday 15 April 2011 - 180 pips on five pairs

FMRL accurate resistance, support and reversal levels

Below are five of today's charts showing FMRL & Fisher trades.

They are 15m charts and Fisher indicator setting is 32 periods.

The simple FMRL & Fisher method is explained in the first post.

We hope it will help some novice traders start positively.

Our own system is private and used to trade for one client.

FMRL numbers are the only part of our system we can share.

FMRL numbers are available to subscribers.

To subscribe see the first post in this thread.


EURUSD - 80 pips



GBPUSD



EURJPY - 100 pips



USDJPY



USDCHF

Just a heads-up - beware the MT4 broker Prime4x! They have disappeared with a lot of my money, and I can't raise them at all now. I won't go into all the sorry story, but believe me it isn't nice!

Thanks ray - I hope you can recover some. I remember losing quite a lot through constant requotes, at various well-known MT4 brokers such as Tadawulfx, FXCM and others. However, that was a few years ago.

For me, since Dukascopy and DivisaFX have MT4 bridges to their Currenex or SwissFXmarket liquidity pool and work commission-based, there is no necessity for anything else. Or then non-Metatrader platforms of course.

( Disclaimer, I have no commercial interest in any broker. )

All the best to you !


______________
michael

Hi Ray,

Very sorry to hear you have been caught by a crooked broker.

Have you see the FPA article here (http://www.forexpeacearmy.com/public/review/prime4x.com)?

Andrew