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Forex Trading - My December trading [ equity curve ] strategy explained
Published: 2015-12-20
Status:
Available
|
Analyzed
Published: 2015-12-20
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker took a Euro/Dollar trade based on a double bottom and RSI divergence, with a combined technical score of four.
"we have put in some RSI Divergence as you can see right here so I took this trade on that candle right there and the reason I did that was because I had a CTS score of four and that's what I have to have in my trading strategy in order to take a take a trade is a c TS a combined technical score of at least four"
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The area around 00:05:31 on the 4-hour chart for Euro/Dollar presented a good buying opportunity.
"if I go out to a 4H hour chart you'll see that this area here turned out to be a really good buying opportunity"
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A Cypher pattern was identified on the Dollar/Yen 4-hour chart.
"on the dollar Yen we had a cipher pattern when on the 4our chart"
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Targets for the Dollar/Yen trade were set at the 38.2% Fibonacci retracement level.
"my targets were at the 382 retracement"
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A Cypher pattern is setting up on the Pound/Dollar, indicating a potential trade opportunity for the following week.
"we have a Cipher pattern setting up for a possible trade coming into next week"
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The speaker bought at the 78.6% Fibonacci retracement level on Pound/Dollar, targeting previous structure levels.
"I bought the 786 targets at previous structure"
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A Head and Shoulders pattern was observed on the Pound/Dollar chart.
"I seen this Head and Shoulder setup shoulder one head shoulder two over here"
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The Pound/Dollar closed below its lowest structure level.
"we actually closed below our lowest structure level here"
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A 78.6% trade setup is currently in progress on the Dollar/Swiss 4-hour chart.
"out on the 4our chart we have a setup going right now we have a 786 trade"
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Targets for the Dollar/Swiss trade are set at previous structure levels.
"taking targets down at previous structure"
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A 78.6% Fibonacci retracement trade occurred on the Aussie/Cad this week.
"the Aussie CAD gave us a 786 trade this week"
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The speaker bought at the 78.6% Fibonacci retracement on Aussie/Cad, targeting previous structure.
"bought the 786 targets back up at previous structure"
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A Bat pattern is setting up on the Euro/Aussie, indicating a potential trade opportunity for the following week.
"here on the Euro Aussie we have a bat pattern setting up going into next week"
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The Bat pattern on Euro/Aussie has its CD completion at the 88.6% Fibonacci level.
"this bat pattern is coming in like X to A A to B B to C and CD completion right down here at the 886"
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The Bat pattern on Euro/Aussie remains valid as long as the price does not break above the C point.
"as long as we don't break above our C point right here"
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A Cypher pattern was present on the Pound/Swiss.
"on the pound Swiss we had a cipher pattern"
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The Cypher pattern on Pound/Swiss has its CD completion at the top of a wick.
"this particular Cipher pattern comes in from this leg X to a a up to B B to C down here and the CD completion at the very top of this wig"
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Targets for the Pound/Swiss trade were hit easily.
"we also did come down and hit targets pretty easily"
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The speaker shorted the Euro/Pound due to RSI divergence (higher highs on price, lower lows on RSI), long wicks indicating selling pressure, and a triple top formation, anticipating a market drop.
"this is just an example of RSI Divergence and the way I trade it so we've had higher highs here on price action and we have lower lows here on the RSI and also we put in all these long Wicks up here that indicate selling pressure and we also have a triple top coming in and with all those indications that we should see some kind of drop in this market soon I decided to short the market"
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Targets for the short position on Euro/Pound are set at previous structure lows and a secondary structure level.
"look for targets down here at the previous structure lows and also I'm shooting for some secondary targets down here at this structure level"
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