Weekly Charts Trading system-picking tops and bottom
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Thread: Weekly Charts Trading system-picking tops and bottom

  1. #1
    I've developed a system for weekly charts enry and exits and is presented here for expert opinions.
    Please read and see attentively when it makes some positive results
    the idea behind the system is
    -pick tops and bottoms
    -keep away from monitors for at least a week
    -no interest with news releases- a real headache
    -remaining longer at the trades as time develops investment
    -a point passed on the chart once should take time to re pass
    -pressure free trading
    -accurate technician analysis
    -usage of couple and frequent indiors
    -good money management with good risk/reward ratio
    -cashing from weekly swings
    Please the chart as only few indiors are used and we could make it better if your input is inserted here
    additionally I use vegas weekly-monthly indior and vegas currency daily here as well with great thanks to vegas for producing such a great material
    and I really do have my daily chart as well. By combining all these four charts and having little discretionary decision one can make better trading decision in weekly charts
    waiting to see your opinions
    please place all four charts in MT4 at a sequence that either weekly charts as opposed to both daily charts so making four charts for each currency pair and what so ever currency you like can be utilized




  2. #2
    This is the platform that ers for the range and fashion trading but it is kind of swing trading too, who gets you in right at the top or base as opposed to takes you together till the end of range swing or fashion swing and you'll be able to see all this clearly on the chart of almost any currency pair. The only issue is that you need discipline and patience to adhere to the system. This is very simple system that you will learn only once you'll start applying it on almost any currency pair with good money management. Keep your risk amount as low as possible and benefit with the system sign exit and I tell you that you'll have 70% winning trades and that is the best you can get.
    There are two fundamental considerations for trading this system
    1 Trade in daily alongwith the management per week or weekly individually
    2. Trade daily independently without getting leadership from each week and in this case you will even get signs from retracements for almost any currency
    3. Get entry/exit signs in daily only if you're trading daily and weekly only if you're trading weekly
    Please consider these parameters and co relate them about the chart
    1. Stoch cross and cross of Both RSIs (13 and 5)
    2. RSI 13 crosses 50 level down and above
    3. Price below or above middle BB lineup
    4. 5 EMA open and 5 EMA close cross
    5. Prices touching lower or upper BBs
    6. 5 EMA open and 5 EMA close both crossing down or up center BB
    PLEASE RELATE ALL THIS ON THE CHART AND THAN WE WILL COMBINE THEM FOR SIGNALS

  3. #3
    consider shorting EURCHF at 1.6555
    due to following reasons
    1. Prices touching upper BB
    2. Both RSIs have crossed
    3. Stoch have negative cross from oversold territory
    4. EMAs positioning to shoot cross
    But remember this is counter trend trade and may be only a little retrcement rather than trend reversal and in the event of retracement, be sharp to depart and in the event of fashion reversal than exactly shirt has been picked up, see how it grows and enables critique on it.

  4. #4

  5. #5
    Quote Originally Posted by ;
    consider shorting EURCHF in 1.6555
    due to following reasons
    1. Prices touching upper BB
    2. Both RSIs have crossed
    3. Stoch have negative cross out of oversold territory
    4. EMAs positioning to shoot cross
    But remember this is counter trend trade and might be only a small retrcement rather than trend reversal and in case of retracement, be sharp to depart and in case of fashion reversal than exactly top has been picked up, see how it grows and lets review on it.
    In accordance with your method we still have to wait for the following to happen:

    1-RSI13 cross 50 degree
    2-The 2 EMAs cross mid BB line
    3- Price near below mid BB line.

    Can I correct?

    So why are you shorting from 1.6555?

  6. #6
    Thanks for coming backagain. What would be your ceases and T/P for the E/C trade?

    J

  7. #7
    EURCHF is in very strong up trend and there are chances that it may Opt for retracement or trend reversal
    Motives of Commerce are are
    RSI 5 crossing down RSI 13
    stoch overbought and Revealing negative cross, a Indication of weakness
    EMAs Becoming close giving an indiion that it might cross after Commerce is running
    price touhing Top BB

    but please remember it is counter trend trade and may not Function as we Want it to Become
    SL 60 and TP According to system exit if Commerce goes in the directionMore I have to trust my system If it shows signal I Have to get in and when Departure signal I Have to Escape and That's all

  8. #8
    Quote Originally Posted by ;
    EURCHF is currently in quite strong up trend and there are chances that it may opt for retracement or trend reversal
    reasons of commerce are
    RSI 5 crossing RSI 13
    stoch overbought and revealing negative cross, a indication of weakness
    EMAs becoming close giving an indiion that it might cross after commerce is running
    price touhing top BB

    but please remember it is counter trend trade and may not function as we wish it to be
    SL 60 and TP as per system depart if commerce goes in the directionMore I have to trust my system whenever it reveals signal I must get in and when exit signal I must get out and that's all
    you might be right but I think its a still risky commerce




  9. #9
    It seems to me that its been moving up since late 2002

  10. #10
    Yes it's in up trend but have retracements in the way for this point. It is I believe at july 1998 high (strong resistence) and likely may bounce back as it's forming double top there.

    Forex is forex and anything appropriate could prove to be incorrect regardless of all logics

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