Try it with this indicator, it will give you an idea of where to put your sl.
Old ways dont open new doors
Part 2 EURUSD Trend magic System
Hi everyone, I am a technical analyst using technical trend lines to predict price movements. I can develop a chart template for any currency for use on mt4 platform.
For EURUSD 4th-8th January 2016
The trend is clearly bearish as outlined by the white trendline; the redlines outline the support trendline, price may reverse on the redlines, a break through them will open further fall in price. The green trendlines are current resistance line and the yellow lines simulate a possible price movement.
EURUSDTrendForecast template is attached. You can save it in the template folder to attach it on mt4 chart.
The chart can be viewed on 4hrs, 1hrs, and 30min time-frames.
For EURUSD 4th-8th January 2016
The trend is clearly bearish as outlined by the white trendline; the redlines outline the support trendline, price may reverse on the redlines, a break through them will open further fall in price. The green trendlines are current resistance line and the yellow lines simulate a possible price movement.
EURUSDTrendForecast template is attached. You can save it in the template folder to attach it on mt4 chart.
The chart can be viewed on 4hrs, 1hrs, and 30min time-frames.
- #448
- Jan 5, 2016 1:33pm Jan 5, 2016 1:33pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
The system intrigued me a bit, so i made a quick setup.
Trade with confidence, trade without fear.
- #450
- Jan 6, 2016 7:28am Jan 6, 2016 7:28am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #452
- Jan 6, 2016 11:10am Jan 6, 2016 11:10am
- Joined Feb 2015 | Status: Trader | 2,476 Posts
{quote} How are your trades going for today on MACD BB
Trade with confidence, trade without fear.
- #454
- Jan 6, 2016 7:31pm Jan 6, 2016 7:31pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
Hi everyone, I am a technical analyst using technical trend lines to predict price movements. I can develop a chart template for any currency for use on mt4 platform. For EURUSD 4th-8th January 2016 {image} The trend is clearly bearish as outlined by the white trendline; the redlines outline the support trendline, price may reverse on the redlines, a break through them will open further fall in price. The green trendlines are current resistance line and the yellow lines simulate a possible price movement. EURUSDTrendForecast template is attached....
NEW SCREENSHOT
This is an update on my EURUSD forecast. The price is moving as predicted. A new indicator settings is added to the new template attached below. The template is best viewed on 4hrs time frame.
1hour Time frame review
In the forecast the green dashed resistance line is expected to resist any bullish force has it occur in point 2 it occur at point 1 as forecast, but it only drop an average of 40pips. Now I expect the same resistance force that occur at point 3 to happen at point 4 as indicated in 1Hour time frame screen shot above.
4hour Time frame review
The point 1, 2, and 3 emphasis how important the bold green trend line is at 1.0979 price level at point 4. Possible price reverse or Sell entry is expected to occur at point 4.
In the forecast the green dashed resistance line is expected to resist any bullish force has it occur in point 2 it occur at point 1 as forecast, but it only drop an average of 40pips. Now I expect the same resistance force that occur at point 3 to happen at point 4 as indicated in 1Hour time frame screen shot above.
4hour Time frame review
The point 1, 2, and 3 emphasis how important the bold green trend line is at 1.0979 price level at point 4. Possible price reverse or Sell entry is expected to occur at point 4.
- #458
- Edited 2:27pm Jan 11, 2016 7:45am | Edited 2:27pm
- | Commercial User | Joined Jan 2016 | 99 Posts
EUR/USD Forecast for 11th - 15th January, 2016.
The support price at 1.0811 and resistance at 1.0967 as formed a bullish trend outline by the white trend line. The solid red support trend line is expected to hold the price from falling further while the dashed red trend lines indicate possible bear trend that the bull must break-out from as simulated by the yellow and blue dotted line. The blue line indicates possible price movements, the yellow line indicate expected price movement and the green trend line is the resistance line.
The template is attached. Best viewed on 4hrs time frame.
The support price at 1.0811 and resistance at 1.0967 as formed a bullish trend outline by the white trend line. The solid red support trend line is expected to hold the price from falling further while the dashed red trend lines indicate possible bear trend that the bull must break-out from as simulated by the yellow and blue dotted line. The blue line indicates possible price movements, the yellow line indicate expected price movement and the green trend line is the resistance line.
The template is attached. Best viewed on 4hrs time frame.
Put the file inside the template folder located inside the Mt4 installation folder. The name of the folder to put the file is Template, after then you go to the mt4 trading terminal, and click on the template menu to select the template from the list.
Template Icon
The image icon for the template in the menu on the mt4 platform is attached above.
Template Icon
The image icon for the template in the menu on the mt4 platform is attached above.