Understanding price action means collecting pieces of puzzles to fit them into the overall context l Forex trading without indicators

While trading is not the difficult but even as not as easy as we first anticipate while we make decision to trade Forex, We build several forex strategies, search several resources online for knowledge and opt for different style of trading with taking help of several indicators. But none of them work at all and atlast we left with nothing but to start it all over again.

Chart should be clear as crystal and context should fix with every price action move

While I spend years looking for help and certain methods to help me build any system that can help me make some money and built a successful career in Forex and Future market but all those years.

Let's understand the whole chart step by step and see what are the rules we need to know to use supply and demand in Forex trading. First of all we saw a strong bearish pressure and a recovery which calls it bearish flag and this bearish flag has two strong supplies as mentioned in the above chart.

While price test the first supply and got rejected and found demand and when price test it the second attempt then because of the fact it was consumed so price had to find demand at the last big orders where price spiked off. After price went through this first supply it met with the second supply area and the rejection was obvious but we never expect them in real as price can ignore strong supply and demand areas anytime.

While price rejected of this supply it use to behave at the previous supply turn demand and price found new buyers there and now we see the approach to the real supply of the flag which was also a strong bearish pressure and top of the bearish flag and approach to this flag was quite compressed and all the orders get filled and we can short at this strong supply when we have such context fiting into the background and we don't need any indicator and trendlines to tell us what to do in such scenarios.

In the following video you will Learn and understand How to read a currency chart with no help of any indicators and how it all fit into context with no risk

Forex trading strategies for beginners l Supply and demand rules to trade

I will update the blog for the rest of the month to help you find imbalance and some rules you need to follow to trade supply and demand in currency trading. It is not that difficult to trade currency with supply and demand but still it has to be patience that you need to test everytime you find setups on a chart.

Risk off rallies in Gold futures targeting 1306, fed minutes eyed

It was quite a busy month of october with a lot happening around the world whether there are talks of supply cut of crude oil or us election vote prediction.

But In this risk of rallies us dollar bears and gold future has benefited the most but as we all know that three day federation meeting is about to finish today and focus is once again shifted on rate hike and uncertainty of us election and crude bearish rally would put a lot of thinking and I would expect these risk off rallies might continue till the us voting.

Speaking of gold futures bulls make a clear breakout and retest of 1274 area and retest of area with strong bullish momentum once again put bulls in charge for a test of 1306 level and I would recommend to put stops close as possible and use adequate money management in order to trade correction or reversals.

Trading would remain volatile as we are approaching Us election next week and investors and speculators will keep shifting their positions in this risk-off rallies as crude oil supply cut talks are in the news as well and meeting on 30th November will decide if there would be a supply cut of 4% set initially but there would be a lot of amendments can be made as Iran and Iraq are all set to enter oil markets with much cheaper crude prices and lot of consumers who are using high volume of crude have shown interest to get supply from much cheaper suppliers.

Forex Scalping l Can trader make a living scalping ? Guide to Forex Scalping

It has been a fact that people often look for mechanical system for day trading and scalping for quick profits but still they don't really know the way to do it and indicators used for scalping and it has been pretty difficult to select the pairs we can scalp and enough profits from it to continue to depend on Forex for a day living.

Build your system for Scalping in Forex else Practice this system for months to see its consistency

Forex Scalping is perhaps the most widely used term in financial market because there are not too many trends in stock and treasury market on consistence basis but there are few pairs specially exotic currency that really moves a lot on intraday basis for trader's benefit and that is the real benefit of working in Forex market rather than any other stock or financial Market in the world.

Forex Scalping needs combination of RSI EMA and Fibonacci

Checklist for the system. Plot a 14 period RSI on daily Chart
Look for direction above 50 or below 50 for the trend.
Also plot 50 period EMA on the Chart
Move to 5 minute chart.
Check any movement that is above 40 pips
Trend has to be clear with RSI Value
Now apply fibonacci to this 40 pips move as shown in the below chart.
Now wait for price to correct 61.8% to 50.0% but not below 50.00 as I don't consider there could be any institution driving price that low to sell. When Price retrace to the mentioned fibonacci number wait for the price to break below 23.6% . Also check that IF price break below 50 period ema and retesting the EMA (real bonus if EMA and fibonacci provide cluster or confluence) Last point check RSI and set stop above 78.6% which should be below 50.

Live trade example 16th October 2016 Gbp/chf

s&p 500 index looking to start another down leg towards 2072 l U.S Index update

World Stock market are on a verge of falling over, and S&P is no different. Because of the fact US is facing assembly election next month and also federation chairman Yellen and his fellows looking for series of rate hikes next year. So, that all stands for strength in U.S dollar and weakness in stock market and I am still looking for test of the 2162 area,and then we could see decline towards 2072.

S&P and US stock Market hesitant of any bullish rallies ahead of presidential election

We have seen lot of sideways movement after we broke through strong levels and IF there are rallies then those followed by extended sideways correction and the area 2114 is much strong level both ways and any rejection here and there we could see strong decline ahead of the election in U.S. Reason being I am favoring bearish price action In S&P Index is that price has not correct too strongly after the rallies from the bottom of 1900 level and records high does not seems to be getting enough cash flow and market is quite hesitant ahead of election and that is why market can still be looking to get their funds out and spend in U.S dollar or any other liquid assets like gold and crude or even treasury bonds.

Us dollar future looking for breakout l Spx look to start its bearish rally

hi readers, last week we witness some strong rallies in the opposite directions both by Us dollar future and us index spx and it remind me of old days when fed officials want strong dollar at the cost of cheap stocks and hence we could see start of some strong year end rallies that might continue next year as well.

Us dollar future looking to break as talk of rate hike in december fuel the market

Talking of us dollar, we see a strong spike by us dollar which could be ready to break the recent one and half year sideways correction. keeping in mind last federation meeting was quite crucial as all the officials thinks of december rate hike is on the cards most probably and this lead to rally in us dollar futures immediately and since then there is no stopping as now we could see a rally towards multi year high of 102.00

How traders should look to trade pullbacks

Forex trader eyeing this rally and looking for small pullbacks and it could be test of strong trading levels which hold previous rally or pullbacks to ema and small risk opportunities which can give way to strong rallies in coming future.

Speaking of Us dollar one can track the main driver of us dollar future i.e Euro dollar and as we break below 1.1040, and now we can look for retests and rejection of this level and keeping in mind the risk involved we should keep the stops very small and look to drive the most part of this downside rally which is eyeing 1.0750

Forex traders should be good enough to manage risk in volatile market

As a forex trader, we should be ready to take this type of risk and small risk trading strategies should be in our database as we must test them from time to time and make use of them when we need them most.
Technical trading is the way we can control our emotions and even in this type of tense situations where moves are happening so fundamentally, we should rely on our trading strategies for entry and risks, because rallies or statements can be revrsed anytime and we can caught on the wrong side of the market, so preparing good money management strategies to tackle with risk is a quality of a good trader.

Pullback trader should look for caution retests at historical levels and rotation centers

I have prepared few checklists where I look to spot currencies which are trending strongly in the one direction and then I start looking for possible entries with small stop and it can be a historical level, rotation center, fakeout or even test of strong supply level with caution or with compression.

Forex trading is about timing and news can never help you ride strong rallies and news cant be a big driver all the time and the one very good example is canadian crosses which are in strong downtrend specially gbp/cad and also usd/cad which has corrected from 1.4700 to 1.2600 in no time even after strong bullish momentum during past few years. Reason being the crude which has recoverdd 50% from its low. I beleive nlw its time foe euro crosses to come under pressure soon, specially eur/cad which has somehow manage to avoid its bearish startoff. Now I would be watching the retest of 1.4730 level and from there I would like to see new downside presure towards 1.4100 level and I would update the blog with the charts of eur/cad and spx during this weekend.

Role of ema's in forex trading strategy and How to use indicators to filter EMA's

In this Article I am about to discussed various methods where you can use EMA for better trade entries and the rest depends on your accuracy how you find trend and how you work with it to find more and better trade Ideas. But you must kept one thing in mind that accuracy of EMA crossover totally depend on type of timeframe you use and best use of risk reward.

How to use EMA with Bollinger bands to trade Forex

In this chart, I have used EMA with Bollinger Bands and I always use to work only if there is enough dominant trend in one way and In the chart below we have see price manage to find a low and rise and there is atleast couple of strong moves.

First thing You need to find out is Watch out for break above 50 period EMA

Secondly, watch out for test of middle band and IF you want better entry then watch for second test IF first test failed to test band and second test closely waiting for band to touch the price and In such cases we manage to set pending limit orders with stops below last swing low as shown in the following chart.

Value of Risk Reward when You use EMA trading strategy

Before You research a system and want to test it for how much success You can have You need out find out situations where it work best and situation where it respond very badly. But IF you keep track of what you have manage to find out best in a trading system like this You have much better chance of Making much better earning from such system than you first anticipated.

How I use EMA with RSI to filter my trades