AUDCAD - 15 minute strategy (example & why?)
Look at profitf.com for further details on strategy. (simple, but you need to be PICKY on when and why).
Example:
*Look at chart & red line area. *WHAT HAPPENS NEXT.
1) Price action is at an EXTREME on Bollinger Band (over bought and outside of BB).
2) Outside long green candlestick when up to 1.101800 (psychological number- one's with double zeros or more).
3) RSI (75/25 and 4, not default of 14) is above 75 and has dropped below 75 again.
4) Stoch (80/20 and defaults settings) is above 80 and has dropped below 80 again.
*When you see that going on, then ANTICIPATE what will happen next- don't WAIT. You would rather get on a STOPPED bus then a bus which is already moving away from trade. Go to 1 minute chart and look for a PA by the resistance or ceiling of 1.01800, to start a brand new bearish 15 minute trade. Next 15 minutes of price action is bearish. In my opinion you should get on previous candlestick , with around 5 seconds left. S/R are important. If you are Patience and Picky-> have Practiced, Planned you can Profit with this trading strategy. I believe that this strategy will work with any FOREX pairs, stocks and/or commodity charts with a 15 mn time frame. Good luck!!!
Example:
*Look at chart & red line area. *WHAT HAPPENS NEXT.
1) Price action is at an EXTREME on Bollinger Band (over bought and outside of BB).
2) Outside long green candlestick when up to 1.101800 (psychological number- one's with double zeros or more).
3) RSI (75/25 and 4, not default of 14) is above 75 and has dropped below 75 again.
4) Stoch (80/20 and defaults settings) is above 80 and has dropped below 80 again.
*When you see that going on, then ANTICIPATE what will happen next- don't WAIT. You would rather get on a STOPPED bus then a bus which is already moving away from trade. Go to 1 minute chart and look for a PA by the resistance or ceiling of 1.01800, to start a brand new bearish 15 minute trade. Next 15 minutes of price action is bearish. In my opinion you should get on previous candlestick , with around 5 seconds left. S/R are important. If you are Patience and Picky-> have Practiced, Planned you can Profit with this trading strategy. I believe that this strategy will work with any FOREX pairs, stocks and/or commodity charts with a 15 mn time frame. Good luck!!!
