Forex, Futures

4/04/2012

04.04.2012

12:10 After this huge night moves i was just watching market - too scary to go against trend, and i didnt see any clear points to jump in trend.

Now there is v nice point to go short on GBP/USD around 1.5930 0 where is S/R level and 38,6 Fibo of this move down.

GBP/JPY and EUR/JPY can be now in C wave in ABC correction - but its not smart to jump against that trend. If they retrace of some nice level of projection of their A waves - with H1 signal and with price action confirmation on 5m - i will think about some positions - but its too early for me now.

1 comment:

Unknown4 April 2012 at 13:22
How about stradling ECB Interest Rate? i think that's a good idea
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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