USD/JPY downtrend live daytrade

Categories: Daily Technical Analysis Tips and Picks

It will be crazy if you don’t trade USD/JPY pair. Look at the daily chart, it is on a very strong downtrend! Then go down to the 15min chart (see above). When you find any retracements, just short it. Look for signals for confirmation, like the way I traded this pair. Negative divergence on RSI […]

It will be crazy if you don't trade USD/JPY pair. Look at the daily chart, it is on a very strong downtrend! Then go down to the 15min chart (see above). When you find any retracements, just short it. Look for signals for confirmation, like the way I traded this pair. Negative divergence on RSI and Stochastic, accompanied by a strong rejection candlestick. Just Trade It! Look for major trends like this yen pair, follow the trend, wait for a retracement, look ... Read More

Bollinger Scalping System part 4

Categories: Bollinger Scalping System

Okay, without any further explanations, let’s get down to business. By now you should have all the indicators ready on your charting software; RSI, Bollinger Band and Pivot Points.
Bollinger band values should be set to “20″
RSI value should be set to “14″
Trade on a “5 min Chart”

First, mark out the major previous Support and Resistance, […]

Okay, without any further explanations, let's get down to business. By now you should have all the indicators ready on your charting software; RSI, Bollinger Band and Pivot Points. Bollinger band values should be set to "20" RSI value should be set to "14" Trade on a "5 min Chart" First, mark out the major previous Support and Resistance, the highs and lows. Take careful important note of those STRONG S&R, they are powerful. Generally, price will bounce around the pivot points and support and resistance. Look ... Read More

Bollinger Scalping System part 2

Categories: Bollinger Scalping System

I am still introducing some of the indicators that we are using, today let us look at Relative Strength Index or perhaps widely known as the RSI.
RSI is an indicator that falls under the category of oscillators, and it is an extremely simple indicator to use. RSI works well in range-bound forex markets, but it […]

I am still introducing some of the indicators that we are using, today let us look at Relative Strength Index or perhaps widely known as the RSI. RSI is an indicator that falls under the category of oscillators, and it is an extremely simple indicator to use. RSI works well in range-bound forex markets, but it has limited value in trending or breakout markets. RSI was created by Welles Wilder, who also created ATR, Parabolic SAR and other well-known indicators. Oscillators are chart ... Read More