Eur/Jpy sell Signal

Looking at the image above, there is  impending sell on Eur/jpy.The condition for sell has been met.

1)  200 ema is above the  upper tma band                                                                               

          2)5 ema has crossed above the upper tma  band                                                                                

          3)      moving average chanell has crossed  above the  4) Wait for the first candle stick to close below the moving average  channel    

                              

       5)      allow the macd histogram to clelow  zero line,place a sell order                                               

                                                                                                                                                                                                                                                     

   

                                                

Buy and sell Rules

From the above setup,we see the following                                                                                                                                                                                                                                                                                                                                                                                                                                      1)  5ema has crossed below,the central Tma line                                                                                                                                                                                                                                                          2) 14 ema channel  has closed below the central Tma line                                                                                                                                                                                                                                            3) 200ema is below the lower tma band,                                                                                                                                                                                                                                                                         4) The stochastic osilliator with 5 3 3 setting is above 50 line.                                                                                                                                                                                                                                                The   buy  condition is fulfilled,then placed a buy order at the close of the first candle stick above 14ema  channel.  place your stopless at the lowest swing. Take profit when 14 ema channel crosses above the central ema line or you use  own discretion.  The sell condition is the opposite of buy.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

My 4hour Trading system

This system is a manual trading one  it is more than 90% profitable

Requirement for the System

Time frame    4hr
 Indicators
200ema         Blue
14 smooth ma   high   pink
14 smooth ma    low    pink
5 ema
Tma exe       Red

1. 

Above is the setup for the system
when  200 ema is outside the lower tma band,the trend is upward.when 200ema is outside up tma band,it is a down trend. when 200ema is inside the tma band, it is a flat trend.All the trends can be traded by the syeem.

Trading systems

•Indidual traders develop their trading system to suit their trades.whatever trading system is deployed,discipline with such system will guarrantee success on the long run.Several trading system can be found in www.forexfactory.com

Money management

•Money management is critical in Fx trading.Fx trading is very risky and therefore money management is imperative.without proper money management, you stand the risk of losing all your monies to forex market. It is recommended that you should place trade with 10% of margin per time.Before entering a trade,you decide how much you want to gain or lose

Market order continue

§Buy limit:This the pending order you place at particular price level below the current price,anticipating that price will fall  to such level when the market is in buy mode.

§Sell limit:This the pending order you place at given price level above the current price, anticipating that price will rise to that level when the market is in a sell mode

§Stop order:This the order you place at given price level either buy or sell market such that if the market is going against you,the order is triggered to stop further loses.

Market orders

•Market exution:This  is excuting the market either buy or sell at the current market price.

•Pending order: It is order you place outside the current price anticipating that price will get to certain level either buy or sell.

i.Buy stop:This is the pending order you place at a given price level above the current market price when the market is in a buy mode

ii.Sell stop:This the pending order you placed at a certain market level below the current price when the market is in a sell mode

Resistance and support lines

•Resistance line is an imaginary line that upward price action cannot penetrate.when a resistance line is broken, it turn to a support

•Support  line is an imaginary line which  downward price action cannot break through.When a support line is broken,it turns to a resistance line.

Market Analysis

•Fundamendal Analysis:This market analysis using economic indices such as Gdp,interest rate.inflation,unemployment nonfarm pay roll.These factors can affect the currencies either positively or negatively

•Technical analysis:This is analyzing market using Technical indicators.These indicators can point market strenght and weakness.They can be deployed effectively in entering and exiting trade eg moving averages,schostatic slow,RsI commodity channel index.bolligerband, etc.

•Fundamendal Analysis:This market analysis using economic indices such as Gdp,interest rate.inflation,unemployment nonfarm pay roll.These factors can affect the currencies either positively or negatively

•Technical analysis:This is analyzing market using Technical indicators.These indicators can point market strenght and weakness.They can be deployed effectively in entering and exiting trade eg moving averages,schostatic slow,RsI commodity channel index.bolligerband, etc.

Suppgrt and Ressistance lines

•Resistance line is an imaginary line that upward price action cannot penetrate.when a resistance line is broken, it turn to a support

•Support  line is an imaginary line which  downward price action cannot break through.When a support line is broken,it turns to a resistance line. see diagram above.

Types of Trend

•Uptrend-rising market

•Down trend-falling Market

•Flat trend-ranging market

•

Time Frames

•Fx market is regemented into time frames as follows

•Monthly

•Weekly

•Daily

•4 H

•1H

•15mins

•5mins

1min
This means that each candle stick represent data for the time frame you choose.

How price action is denoted in Fx market

•line chart

•Bar chart

•Candle stick. most traders prefer the use of candle stick.

https://www.mql5.com/en/charts/8547502/usdchf-h1-fxtm-ft
https://www.mql5.com/en/charts/8547568/usdchf-h1-fxtm-ft-global