Wednesday, October 1, 2014

My forex strategy thinking

1. Trade only when there is obvious trend and buy/sell on pullbacks

- Daily chart - never go against the daily chart trend.. best only trade when there is a obvious trend on daily. .. ignore if consolidation and worst if it is choppy

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Keys

1. Must write down my thinking and plans. .every fucking detail

2. All build upon price action as they are leading indicators..  (Price patterns, Support and resistance, higher high and higher low,  swing points,  3 types of trend - Uptrend,  Downtrend, Consolidation)

The RSI etc. .are just for fine tuning

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Strategy

1. Trend line - Daily, H4, H1

2. Supply and Demand zones

3. Key swing points

4. Fibonacci retracement

5. Key support and resistance zones

6. Price patterns - Flag, triangle, rectangle boxes..(reversal and continuation)

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6. Add lagging indicators

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