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Martin Njoroge
Published post Choosing Your Broker
The internet is flooded by Forex brokers many claiming incredible offers. The best and most Efficient broker i have dealt with so far is Exness. Click here to view https://www.exness.com/a/s9mir4bp. Why? 1. They have the most professional chat support. They are always willing to help...
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Martin Njoroge
This is the lowest RSI(14) has ever been on the EURUSD hourly chat. Going to as low as 11. If you entered a buy position hoping to catch a retracement on the large move don't despair yet. Wait for the end of the US session and we will see a pull back before the down trend continues.
It significant to note that EURUSD is near support of a 33 week wedge pattern. A break below this support will push the EURUSD further down and we can expect an even bigger breakout.
It significant to note that EURUSD is near support of a 33 week wedge pattern. A break below this support will push the EURUSD further down and we can expect an even bigger breakout.
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Martin Njoroge
Warren Buffet said there are two rules to keep in mind while trading :
1. Never loose any money
2. Never Forget rule no.1
1. Never loose any money
2. Never Forget rule no.1
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Martin Njoroge
The Dollar has been Forming a series of Lower highs and lower lows. We may see a bullish breakout by the dollar. The dollar is at the donchian channel high. Should this not hold as resistance expect the dollar to continue rising further.
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Martin Njoroge
This is a very simple and effective strategy I have developed using a Renko Chart. Renko charts are not time sensitive and a candle is formed only when price moves a number of pips you've set. On my chart I've set it to paint a candle for every 5 pips move in price the time frame is 1 min. So every time a 5 pips move is made a candle is formed. I have smoothed out the Renko candles with a heikenAshi indicator. The Yellow lines are Donchian channels. They are used to identify a breakout. The first Signal given by the Donchian channels is the best. You put your stop loss at the opposite channel and keep adjusting it as it goes down. Trading breakouts can be very profitable. The two bottom oscillators are stochastic and CCI . If you are unfamiliar with their use you'll find a lot of information by google searching them.
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Martin Njoroge
On the hour chart my indicators are giving me a strong sell the EurUsd pair. Caution The price is only 6 pips away from the first Support.
The second support is at 0.7240
RSI(14) 36.427 Sell
STOCH(9,6) 33.871 Sell
STOCHRSI(14) 18.014 Oversold
MACD(12,26) -0.000 Sell
ADX(14) 41.129 Sell
Williams %R -83.871 Oversold
CCI(14) -173.6366 Sell
ATR(14) 0.0007 High Volatility
Highs/Lows(14) -0.0008 Sell
Ultimate Oscillator 36.767 Sell
ROC -0.124 Sell
Bull/Bear Power(13) -0.0017 Sell
The second support is at 0.7240
RSI(14) 36.427 Sell
STOCH(9,6) 33.871 Sell
STOCHRSI(14) 18.014 Oversold
MACD(12,26) -0.000 Sell
ADX(14) 41.129 Sell
Williams %R -83.871 Oversold
CCI(14) -173.6366 Sell
ATR(14) 0.0007 High Volatility
Highs/Lows(14) -0.0008 Sell
Ultimate Oscillator 36.767 Sell
ROC -0.124 Sell
Bull/Bear Power(13) -0.0017 Sell
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Martin Njoroge
If you don't like staying in the market for long trading one hour can be profitable. During such time i just reference the candlestick patterns as they tell the mood of the market and My RSI to know whether the currency pair is overbought or oversold. This is GBPVSCAD 1 hour chart
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Martin Njoroge
GBP/CAD on the 4 hour chart has a very bullish trend. At time during such trends you don't have to time you buys you simply have to be buying. Pay close attention to the news on GBP Markit UK PMI Manufacturing s.a. (JUL) which will be released any moment now. Always Remember fundamental or new analysis may invalidate technical analysis.
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Martin Njoroge
Would you like to never ever ever ever have another loosing trade in your life. You heard that right never ever have a loosing trade at worst maybe break even.
1. Never ever ever use a stop loss!!!
Ask yourself would warren buffet take a billion dollar position and use very tight stop loss? You have to look up-to the most successful traders. Eliminate that stop loss and start making profit.
How then do you protect yourself against unprecedented events? See this ingenious trading strategy here http://www.4x-dat.com/tutorials.asp
1. Never ever ever use a stop loss!!!
Ask yourself would warren buffet take a billion dollar position and use very tight stop loss? You have to look up-to the most successful traders. Eliminate that stop loss and start making profit.
How then do you protect yourself against unprecedented events? See this ingenious trading strategy here http://www.4x-dat.com/tutorials.asp
Martin Njoroge
The easiest way to determine the trend of the market is using the 20 EMA. If its going up particularly if the bars are formed above the 20 EMA you have an uptrend. I use the 8 EMA on the longer time periods coz it gives a faster entry signal into the market. You should realize that the further the price moves away from the EMA their is going to be a pull back.
Martin Njoroge
The USD/CHF pair favors a short position. Chat has been prepared using a trading station II.
Get 100$ free bonus from the best Asian broker https://www.instaforex.com
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Use KALW as affiliate link during registration
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Martin Njoroge
On the 4 hour chart EUR/USD has a bearish pattern. A Heikin-Ashi chart smooths out the candlestick. You buy when the candlestick is green and has no lower shadows and sell when it red as long it has no higher shadows. Get 100$ free bonus from the best Asian broker https://www.instaforex.com...
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