Contracting triangle is a corrective pattern defined in the Elliott waves theory. Corrective patterns are an amazing guide to get clues about the next impulse wave. If you can locate a contracting triangle at its last phase, you can pin point price reversal zones with remarkable accuracy. Now the question is, how do you know in the […]
Contracting Triangle in the making – USDJPY Daily Read More »
Traders have been using Elliott waves theory (is not a theory anymore in my opinion) for decades. Although the rules and guidelines are quite simple to understand, it becomes a daunting task to implement it in the actual day-to-day trading. Today’s lesson is about how to trade using Elliott waves. I will show you exactly how I
How to trade using Elliott Waves Read More »
Snake borders indicator is a sleek piece of software developed for the Metatrader 4 platform. It uses High, Low price calculations from preceding bars. You can specify the maximum and minimum number of period settings. The indicator creates a band where price is more likely to live within. Snake borders indicator for Metatrader 4 is a neat
Snake Borders Indicator Trading Strategy with Download Read More »
A Pivot point is simply the High, Low and Average of preceding x number of bars. In our case, previous x number of Daily bars. Pivot point indicators are lagging since they are naturally based on historical price points. In this particular pivot point indicator, I have used multi time frame calculations so you can plot daily or
Pivot Point Trading Strategy with Pivot Point Indicator Read More »
Lets face it. Getting a sense of direction on any chart is not an easy task. But it’s not impossible. Especially, when we combine Elliott waves theory with Harmonic patterns and Fibonacci ratios for example. Elliott waves theory (I believe it’s not a theory anymore, but a proven strategy) is an excellent method to study
Elliott Waves, Harmonics and Fibonacci ratios Read More »
GBPUSD Wave Count GBPUSD wave count – this GU daily chart was bugging me for a while. No strategy could explain or project the next move with some accuracy, except for the Wave Principle. So recently I set out on a mission – to dig deep into “The wave principle” if not commonly known as
GBPUSD Wave Count – A Treat for Wave Counters Read More »
Manage stop loss and reduce losses In today’s post we will discuss about ‘how to manage stop loss’ in trading. Stop loss management is critical for the success or failure of any strategy. This is why well defined strategies have emphasis on stop loss, take profit and risk to reward ratio. The topic of stop
How to Manage Stop Loss in Trading Read More »
Bearish Dragon pattern can pick reversals and trendline breakouts effectively The bearish dragon that we have been waiting for so long, may have arrived at a fundamentally conflicting situation. With the USD interest rate increment announced only few trading days ago, in a fundamental point of view, there is more upside to the USDCAD.
Bearish Dragon – Has the USDCAD topped? Read More »
Trading Part Time? Anyone? Its not easy to concentrate on you are trading around your day job. Furthermore, if you are looking to become a full-time trader, the transition phase is another nightmare too. I really don’t mean to put you off first up, with such flattering statements. But as traders, we have to look at facts as
Trading Around your Day Job is an Art Read More »
Scalping is fun! If you are like me, then the first thing you probably did with your first ever demo account was to scalp the hell out of it and blow the account in no time. That was my first lesson in trading, don’t fight the markets. But it sure was fun scalping for the first
Why scalping is an awesome first step for beginners? Read More »
