Another best and commonly used method of locating support and resistance levels on price chart is PIVOT POINT CALCULATIONS.
In fact this is the method I use on both daily and 4 hour time frames to locate important levels on the chart.
Hope to to write on how to calculate pivot levels and how to apply it to trade with it successfully soon.

Fx4Pay:
Another best and commonly used method of locating support and resistance levels on price chart is PIVOT POINT CALCULATIONS.
In fact this is the method I use on both daily and 4 hour time frames to locate important levels on the chart.
Hope to to write on how to calculate pivot levels and how to apply it to trade with it successfully soon.

please what's the difference between forex and binary option. Which one is more easier to learn and make profit. Pls I need urgent answer and pls I will appreciate if you can give a short enlightment on the two

shakol91:
please what's the difference between forex and binary option. Which one is more easier to learn and make profit. Pls I need urgent answer and pls I will appreciate if you can give a short enlightment on the two

I helped you to do some Google search and below is what i found after filtering all the various search results. Please follow the link below. I believe it gives some reasonable answers:

http://www.forexcrunch.com/binary-options-vs-forex/

Best of luck

Check Ea,Ga and Ucad.A reversal spotted

Wisdomxy:
Check Ea,Ga and Ucad.A reversal spotted

Probably GA ad EA reversing to d upside.
But UCAD? not sure for now

One of the first aspects of technical analysis that most new traders learn is the field of support and resistance. After all, if price has hit a floor with which it may have difficulty breaking through
(support) or a ceiling with which it may not be able to rise above (resistance); this can offer a plethora of trade ideas and setups. Unfortunately, most new traders learn one or two ways of identifying support or resistance; and when they see that it doesn’t work all-of-the-time, they abandon such studies in hopes of finding ‘holy grails’ elsewhere.

Well, holy grails don’t really exist. It often takes the new trader some time to learn this lesson the hard way: There is no strategy or approach or indicator that will allow a trader to always win, no matter how strong the analytical method being employed. Rather, trading is about probabilities and attempting to get them on your side or in your favour as much as humanely possible using this analysis. Support and resistance has a special role in this analysis. It can be used to grade market conditions, determine trends, identify entry and exit points along with lot of other options.

PIVOT POINTS

This is one of the more common mannerisms of identifying support and resistance, and it is also one of the oldest. Pivot points originated before computers became common in financial markets as floor traders need a quick and easy way to see if prices were ‘cheap’ or ‘expensive.’ So these floor traders developed a short-hand manner of getting support (cheap) and resistance (expensive) levels. These floor traders would take the previous day’s high, low, and closing prices and would average these values together to find the ‘pivot’ for the next trading day. Price action trading above this pivot would be ‘bullish’ while prices below would be ‘bearish.’

While this is fine and good, it doesn’t tell us much about support or resistance yet; so to take this a step further, traders would then multiply the pivot by two, and would then subtract the previous day’s low to get the first level of resistance (R1). They can then do the same to find the first level of support (S1), multiplying the pivot value times two and then subtracting the previous day’s high.
After the R1 and S1 values are solved, traders can then move on to the next levels of support and resistance. To find the second level of resistance (R2), traders can add the pivot value to the difference between R1 and S1; and the second level of support could be found by subtracting the difference between R1 and S1 from the pivot value. The full equation is below:

Pivot Point, PP = (Previous Period's High + Low + Close)/3

R1 = (PP× 2) - Low
S1 = (PP × 2) + High

R2 = PP + (R1 - S1)
S2 = PP + (R1 - S1)

R3 = High + 2(PP – Low)
S3 = Low – 2(High – PP)

As you can see from the equation, pivot points use very basic math to find potential support and resistance levels. Luckily for traders, most charting packages will automatically do this math for us while plotting the support and resistance levels at appropriate intervals. Pivot Points can be generated for a variety of time frames, and the longer-term pivots will often work best as more traders may be seeing and reacting to those levels.

As with most forms of technical analysis, the longer the term being used in the analysis the stronger the response that may be elicited. Pivot points of monthly and weekly time frames will often attract significant interest, and should be followed by traders even if using shorter-term hourly and four-hour charts.

The Charts (USD/JPY and AUD/USD) below show monthly pivot points with support and resistance levels accurately plotted on daily time frame. These levels are to be watched closely for the month of May, 2015 for taking trade decisions accordingly.

OP, kai, may God bless you wella. Make I register first, I mus find time learn this strategy by force, make nobody do me yanga again.

I know at least someone will not be happy with you. Someone who has been using this strategy just woke up one day and flushed everybody in his whatsapp group, after I become motivated from his thread to start forex trading. I became discouraged and my account has been dormant from the remains of unhealthy signals.

This my head must learn this stuff at last.

G12:
OP, kai, may God bless you wella. Make I register first, I mus find time learn this strategy by force, make nobody do me yanga again.

I know at least someone will not be happy with you. Someone who has been using this strategy just woke up one day and flushed everybody in his whatsapp group, after I become motivated from his thread to start forex trading. I became discouraged and my account has been dormant from the remains of unhealthy signals.

This my head must learn this stuff at last.

You may wish to join my group on whatsapp for free and no string is attached. It is "Long Term Forex Traders" group on whatsapp for swing and long term forex traders only. We learn, analyse the market and trade together.
Thank you

Fx4Pay:


You may wish to join my group on whatsapp for free and no string is attached. It is "Long Term Forex Traders" group on whatsapp for swing and long term forex traders only. We learn, analyse the market and trade together.
Thank you

I'm interested in joining your whatsapp group too

@ op your whatsapp number pls... need to exchange ideas with you

osca123:
@ op your whatsapp number pls... need to exchange ideas with you

You wish to join the "Long Term Forex Traders" group on whatsapp free or want to contact me? just pm me, please and i will get back to you immediately.

Thanks.

I believe in the past few days, I have been able to do justice in:

1. Calling your attention to the difference between a swing and day-traders. I also let you decide and determine what type o a forex trader you already are or would like to be in line with your personality and interests.

2. Defining Price Action and price action trading method.

3. Teaching you how to identify key levels on your price chart using different methods to identify highs and lows of the price charts. These support and resistance levels are the major bedrock of price action trading method.

Later today, I will be explaining how to trade some price action/candle formation with support/resistance levels profitably. So that as you are getting ready to dive into the forex ocean this month/week, you will know how to guard yourself and swim the ocean safe and profitably.

Happy Sunday to you all

PRICE ACTION TRADING STRATEGY

Price Action trading is the most common form of trading amongst professional traders. Price Action trading involves analyzing just the raw price action data on a clean chart with no indicators
whatsoever. What so many traders fail to realize is that the indicators they are using in their trading are built from using old price data to give them a lagging indicator. Price action traders are taking the live price as it is continually being printed onto their chart and making trades.

What is Price Action?

Put very simply; "Price action trading is the skill of being able to read the price and make trades on any chart, in any market, in any time frame and without the use of any indicators at all".

Price Action is everything that price is doing on any trading instrument, being represented on a chart for a trader to see. In very basic terms Price Action illustrates in a way that a trader can see exactly on a chart, what a certain pair did for a particular time frame. For example the individual candlesticks or bars will show how high the pair went, how low the pair went and also the open and closing prices. Most charting platforms can produce candle sticks and bars for time frames varying from 1 minute to 1 month.

Another way to think about it is; Price Action is everything traders are doing and how they are doing it, shown in a chart form. This basic explanation of Price Action is not subjective. What I see on my chart is exactly what another trader will see on their chart, providing they are using the same charting equipment.

What is a Price Action Trading System?

Price Action trading is a method that is commonly used by professional traders. Most professional traders use a very logical system that is not complicated, whereas most amateur Forex traders are hung up looking for the “Holy Grail” system and indicators that will bring them all their riches overnight. Price Action is a system that is very logical and has clear rules in place. Instead of using indicators that cannot adapt to different types of markets, price action involves the trader making trades based of key signals forming in the market. Price action trading is a logical trading method that has been around for a long time and will continue to be around for a long time to come.

How Can Traders Use Price Action to Profit?

Price Action traders are using the information gained from the price action chart to make their trading decisions. Price action traders have key signals they are looking to present in the market for them to make a trade. Price action traders are using information they can see in the price such as:

Is there a trend?
Is there a range?
Is price at or near a support and resistance level?
Has price formed a key reversal signal indicating the market is going to move?

Using the price data the price action trader can plot the key supply and demand level on their charts.
They can also identify when price is about to either break out or reverse, and use this information to take profitable trades.

What Are The Types of Trades Price Action Traders Take?

Price Action traders are constantly assessing price for any signals they could use to take a trade or manage open trades. Price action traders use key candlestick patterns at key areas on their charts to
enter into trades. One example of a price action signal is the Pin Bar . The Pin Bar is a reversal signal that can be found on any chart and on any time frame. A Pin Bar is a powerful price action signal that is made up of 1 candle. Pin Bar’s can be used to pick both long and short trades (buy or sell) and will often be the signal to change the current trend. (The Pin Bar is just one price action pattern of many the price action trader can use. Other price action setups can include engulfing bars, 2 bar reversals, inside bars, continuations, breakouts and false break patterns).

A Pin Bar must have:
– Open and close within previous bar
– Candle wick minimum 3 times the length of the candle body
– Long nose protruding from all other bars (must stick out from all other candles)

Not all Pin Bar’s are created equal. Price Action traders use more than just the last candle to decide whether to take a trade or not. The whole price chart is information that the trader will take in when deciding to make a trade or not. The very best Pin Bar’s will be traded when they are with the obvious trend and at key support or resistance levels in the market.
Below are examples of Pin Bar at a key support and resistance level.

What Else do Price Action Traders Use?

As I said above; Price Action is more than just looking at the last candle to make a trade. That is what pattern traders do, but successful price action traders use the whole chart to make trading decisions. Price is always telling us something and learning how to use that information is critical in learning how to read and trade the price action story .

Trend Trading

When trading with the trend, traders are looking to take trades in the direction of the current trend. While a very simple strategy it is quite often overlooked by many trades. You would most likely have
heard saying such as “The trend is your friend until it bends” and this is very true. The best trades will be found when trading with the trend.

The reason a clean chart is so important is because we need to be able to see what price is doing. This is critical when looking for trends. Notice in the clean raw price chart below, price is clearly
trending higher. This is a very obvious trend and the only trades to play in this market are to buy and trade in line with the trend.

Support and Resistance

Even more important than the trend direction, is key support and resistance levels . The reason support and resistance is so important is because that’s what the rest of the market is also looking at. While these support and resistance levels will not always hold, they will very often act as key levels to make profitable
trades from. Price Action traders are constantly looking for key support and resistance levels to trade from. A simple look at any Forex chart will show you just how often these levels are respected.

How to use Support and Resistance with Price Action Trading.

Support and resistance levels should be the cornerstone of a Price Action trader’s arsenal but they shouldn’t be used alone. Traders should look to use these levels with Price Action signals as confirmation to enter a trade. Using support and resistance in this way a trader can increase his chance of placing a winning trade. An example of making a trade from a resistance level is below. Notice this Inside Bar reversal tested the resistance level and after a while, there formed a bearish engulfing candle that broke the next support (second line to the top) firing back lower and confirming that the resistance level is still valid.

To make a successful trade, price action traders need to plot these support and resistance levels. When price then gets to these levels it is about waiting for price to make a signal for entry.

Below is a chart example of obvious support and resistance levels:

Fx4Pay:


You wish to join the "Long Term Forex Traders" group on whatsapp free or want to contact me? just pm me, please and i will get back to you immediately.

Thanks.

just sent you a pm

osca123:


just sent you a pm

Got it and i have replied.

Fx4Pay:

Got it and i have replied.

this my pm is not working pls add me on whatsapp here : 08081215132

Discover how to turn a one time investment into massive profit in less than a year,kindly visit makelegitimatecash..com for more datails...

osca123:

this my pm is not working pls add me on whatsapp here : 08081215132

ok. you have been added

Kudos boss, u r right on point and doing it right, keep it going n God bless.. still following.

infofirst:
Kudos boss, u r right on point and doing it right, keep it going n God bless.. still following.

Thanks, Boss.
and am so happy you joined the group

The GBP/USD seems good setup to me and I think it will go down to 1.4959 for sure (S/R on daily chart). Yes, the strong rejection (pin bar) on the weekly chart, the too strong bearish engulfing more than 1 candle on the daily and the bonus, closing and hovering below the monthly pivot (thick gold line indicated on the chart below) make me believe that there is good chance that it will continue down. I might be wrong but lets see how 1.5100 is holding. Let’s see what the market has to say.

If you check the charts, I believe most of GBP pairs are going down this week. Lots of good setup like GBP/USD, GBP/JPY, GBP/NZD. GBP are probably going down until the election finish is over and then will probabaly shoot up, just like before during Wales independence votes though I am not fundamental.

am selling GJ, that strong evening star rejecting resistance attracted me. am eyeing to go long on AU at the end of todays candle. a nice morning star rejecting ur pivot line is forming. my take

docus:
am selling GJ, that strong evening star rejecting resistance attracted me. am eyeing to go long on AU at the end of todays candle. a nice morning star rejecting ur pivot line is forming. my take

I love this.
The only edge a long term trader has over a day-trader is PATIENCE like that of a sniper.
Bet it, Patience is a Virtue in this business.
Keep it up, gallant trader!

Fx4Pay:


I love this.
The only edge a long term trader has over a day-trader is PATIENCE like that of a sniper.
Bet it, Patience is a Virtue in this business.
Keep it up, gallant trader!

thanks bro, following u. swing trading is the key

now following, price action all the way.

Fx4Pay:


You may wish to join my group on whatsapp for free and no string is attached. It is "Long Term Forex Traders" group on whatsapp for swing and long term forex traders only. We learn, analyse the market and trade together.
Thank you

Sure sir, I would be m ore than pleased to join. I have an important exam coming soon, I'll join after the exam.

Thanks baba

It has been a while since i posted here but I have been busy taking mind-breaking and successful trades with the whatsapp group. Let me use this blissful weekend to continue and further reiterate my reasons why you should trade price action.

Did You Know there is One Key Element in Price Action
Trading?
This simple mind-switch will change everything about the way you see the market, and the way you trade, with explosive results!

Many people also seem to be badly advised at the start. They buy some strategy supposed to be based on price action, or some course that supposedly teaches it, only to end up with something complex and confusing, and ultimately unsuccessful. I suspect many of the people selling these courses and strategies purposely add in more than is needed, to make their otherwise poor grasp of the subject appear more substantial.

The fact is that – like trading itself – price action is at the same time, one of the simplest things you will ever do and one of the hardest things you will ever do ! This is due to either to the way the subject is taught, or the traders interpretation of the confusing
data. So let’s get to the heart of the matter: if you wanted to simplify price action trading down to one simple principle, can it be done?

The answer is a definite YES!

We need to know what it is that sits at the heart of price action, driving all we see as those candlesticks form up and march across the charts. We need to know why price moves around, jumps retraces, rejects and seems to behave in such an erratic
manner.

Price moves because of the actions of the “Big Dogs” trading in the marketplace. This group of market players includes anything from
Central banks and Commercial banks down to the very large traders with mega million-dollar accounts. And what is the one thing each and every one of those big dogs is focused on?

The answer: LEVELS!

The major players in the market may employ various strategies, indicators, fundamental analysis and so on, but at the beginning of every day or week or whatever period they are focused on, they will be looking at one thing on their charts, and that thing is simply
PRICE LEVELS. Levels at which they have determined price is likely to react, and levels at which they have decided to enter or exit the market.

So if the really big dogs are only looking at predetermined levels, shouldn’t we smaller retail traders be focused on levels, too? The answer is of course, YES! Unless you get a kick out of going up against these guys, in which case I can only say you
must have a masochistic streak but for now just remember that it doesn’t need to be Rocket Science – your chart crawling with
indicators etc. – as long as you are willing to do the basic homework of understanding Price Action.

God bless you as you enjoy your beautiful weekend.

please sir i will like to. join ur watapp group 08034946998 thank u

pls add me to your Watsapp group..I want to resume trading which I suspended about 4 years ago.08060506610

@fatalitho and Lachynos2k2, you have been added. You are greatly welcome to the noble group.