Forex, Futures: GBP/USD close to sell signal

8/23/2012

GBP/USD close to sell signal

GBP/USD reach ideal Fibo grouping level - end of possible wave C on D1.
Momentum on H1 should give sell signal after this bar.

I will put sell stop on about 1.58890

1 comment:

Unknown15 April 2013 at 07:27
I like this Article beause it is knowledgable and summarised. I enjoy reading this article. thank you for sharing such a wonderful post, I will surely work as per mentioned in this article for training
ReplyDelete
Replies

Add comment

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