Wednesday, October 8, 2008


Rule number:

1. Your focus should be around the price movement in relations to:1.1 MA, trendlines, support and resistance levels and big numbers.
1.2 Then look for the MACD to confirm forex signals.

2. Homework on price movement should have been done before looking at the MACD forex signals

3. Don’t take every MACD forex signals.

4. Don’t jump around ten pairs.
4.1 Stay with the minimum and keep track of their price movement (as stipulated in Rule 9-11)

5. Look at market emotions – candle formation at critical points on the chart will show emotions in the forex market

6. Wait for playing ground to be removed so that the forex market can get rhythm and definite direction

7. Go with the rhythm and trend of the pair.

8. Counter trend trade only when:
8.1 Near major Trend, Resistance and Support lines
8.2 RR is 1:1 or better
8.3 Towards the 21MA as profit target

9. When price break through the 89MA, it tends to move back to 21MA and then it moves on in that direction.

10. When price breaks through the 200SMA, it moves back to it before moving on.

11. When price breaks back through the 21MA it comes back to 21MA and then move on to the 89MA

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