Forex, Futures

2/24/2012

11:50 There is potential trade on GBP/JPY too. Its now in wave 5. On strong S/R level and 5 = 1 now.

Im still waiting and i will take probably 2 trades - GBP/JPY or GBP/USD or AUD/USD.

AUD/USD didnt breake night high so it looks strongest.

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Trading Strategy

1. Simple Elliot waves - just 5waves moves and ABC corrections.

2. Fibo Retracements and Projections - if i see group of Fibo close to each other i will marke this level as potential reversal.

3. DTOSC indicator (it can be stochastic too). When i get signal on bigger time frame on fast DTOSC (1h for forex) im moving to smaller (15m or 5m) and im looking for signal on slower DTOSC if i get it all i open position.

Im very sorry - I didnt explain what is buy/sell signal.
Its like in every oscilator with overbought/sold zone. If faster line cross slower from below its buy signal when its in "bottom" zone. Sell signal is when faster line cross slower line from top in "upper" zone.

4. Position size: im opening 2 positions with 2-3% risk. 1 is short term and 1 is long term.

5. Manage of positions: no TP, positions close by SL. SL will be move different for both positions.

DTOSC indicator: HERE

Forex, Futures

2/24/2012

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