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How To Draw Fibonacci In Easy Way! ✫Forex Trading

support and resistance Fibonacci retracements how to draw fibs because the application of technical indicators can vary among charting software packages we usually don't cover how you apply it give an indicator on your charts regarding Fibonacci retracements however it's worth demonstrating the general mechanics of how you draw them because you'll gain a better understanding of what fibs are really measuring and how they're defined by whatever prior trend you select you can apply fibs to your charts basically in a 3-step process you select a high and low point for a given up or down trend your charting software then calculates where a retracement of 23.6% 38.2% 50% 61.8% and 100% of that trend would occur and it then draws in lines at those price levels per Fibonacci Theory these are where the future counter trend is most likely to pause or reverse so how do we apply fibs to your charts whenever charting software instructions you will be using will describe the exact steps needed they usually involve just doing the following select the Bonacci retracements from your menu of available technical indicators indicate the price range and time period of prior trend in question by highlighting it with a simple click and drag of your mouse let's see some examples in the first example we will draw fibs support and resistance for an uptrend based on a prior downtrend configure 4.13 below we wanted to locate the likely fibs support and resistance points as the euro US dollar rallied higher and thus retrace the prior downtrend that occurred from December 2009 to June 2010 this is highlighted by the falling dotted line on the left side of the chart the horizontal yellow lines marked those FIB retracement levels that should become support and resistance points in order to do that we select the Fibonacci retracements option from our menu of technical indicators at that point the mouse cursor will change appearance to prompt us to highlight or define the range of the downtrend that we're examining when that happens place your mouse cursor where the downtrend began left click and drag the cursor down and to the right until it hits where the downtrend ended then release the left mouse button the yellow dotted line shows the price range that was highlighted now you can choose the absolute highs and lows of the candle wicks or use the highest and lowest closing prices per the candles bodies on each end of the downtrends range the horizontal yellow FIB retracement lines that appear these serve is support and resistance zones for whatever uptrend that follows note the dotted line that highlights the downtrend on which these fittings are based for example the 23.6% fib line means that price is risen or recover or retraced twenty three point six percent of the prior downtrend as with any other kind of supported resistance each level is resistance until it's decisively breached and then it becomes support unless price falls back below it notice how the 23.6% fib line the second yellow line from the bottom indeed looks like it's twenty three point six percent or about twenty five percent of the total downtrend note how the fourth line up looks like it's about in the middle of the downtrend that's because it's the fifty percent retracement level marking where half of the downtrend has been recovered or reversed in the second example we're drawing fibs support and resistance for a downtrend based on a prior uptrend to plot fib lines for a downtrend you follow the same steps as above the only difference is that in step number three we highlight the range and duration of a prior uptrend that means we place our mouse cursor at the bottom of wherever the relevant uptrend began left-click and drag the mouse up into the right and release the left mouse button at the high of the uptrend to solidify our understanding let's go through those steps we refer to the graph below the mouse cursor changes appearance to prompt us to highlight or define the range of the relevant uptrend to do that place your mouse cursor where the uptrend began left click and drag the cursor up and to the right until the top of the uptrend then release the left mouse button again the dotted line shows the price range highlighted here – you can choose the absolute highs and lows or use the highest and lowest closing prices for the candles on each end of the trends range the FIB retracement lines that appear is blue horizontal lines ignore the yellow ones for now we'll explain those below these blue lines indicate support and resistance zones for what downtrend that follows note the dotted line that highlights the uptrend in which these fit lines are based for example the second blue line from the top is the 23.6% fib line and it indeed is about 25% down from the high of the prior uptrend when price falls to that level it means that price has fallen 23.6% from its recent high in other words it is retraced 23.6% of the prior uptrend like any other kind of support and resistance each level is resistance until it's decisively breached and then it becomes support unless price falls back below it now look again at the graph where do those longer yellow lines come from these longer yellow lines are the fibs based on the longer-term downtrend shown in Figure 4.13 why are these two sets of fibs that's a good question it brings us to an important point which we'll cover in our next lesson

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Double Bollinger Bands (Rule 3) ✫Forex Trading

double Bollinger Bands D BBS three zones three rules as noted in the last article the two sets of Bollinger Bands create three zones let's look at them more closely the d BB buy zone when a price is within this upper zone between the two top post lines a1 and b1 that implies strong upward momentum that the uptrend is more likely to continue rule when candles continue to close in this uppermost zone that's a signal to enter or maintain long positions as well as to avoid short positions and to close any remaining short still open the dbb sell zone when the candles remain in the bottom zone between the two lowest lines a2 and b2 that suggest strong downward momentum and that the downtrend will probably continue rule when candles continue to close in the sell zone that's a signal to enter or maintain short positions as well as to avoid long positions and to close any remaining open long positions the d BB neutral zone when price is within the area bounded by the one standard deviation bands b1 and b2 that means there is no strong momentum or trend rule typically one to three consecutive candles closing this area are your signal to exit any trades that are riding the current up or down trend because that trend is showing weakness in other words when a price makes a sustained move into the neutral zone that's a signal to exit trend based trades consider range trading strategies that is entering long positions at the bottom of the trading range closing them as price reaches the upper end of that range and then opening short positions to ride the move back to the lower end of the trading range notice how we phrase these rules we didn't say something like when prices in zone X do Y rather we stuck to wording like when prices in zone X that's a signal to do Y here is a reminder never trade based on just one indicator we generally would not enter a long position just because the price is hitting support nor would we usually open a short position just because price is hitting resistance similarly we wouldn't enter or exit position solely based on dvb signals you should generally not make entry or exit decisions based on just one technical into cater the above signals must always be considered together with both other technical indicators look for confirmation from different kinds of indicators that it's a good time to enter or exit a position similarly if there are conflicting signals from other indicators we might wait until the picture becomes clearer for example if price enters the buy zone but we know that a strong resistance area is just above the current price we might wait until the pair makes a decisive break above that resistance before entering a new long position how long we wait is often a decision based on how we prioritize risk versus reward the sooner we enter the larger our potential profits if we're correct and the higher our risk of entering too soon and suffering a loss from a false breakout for example if the euro US dollar moves into the buy zone but we suspect that the ECB might announce an interest rate cut at its monthly meeting and rate statement later in the week which would likely drive the pair lower we might ignore the technical entry signals and wait until that event passes we'll discuss later the number and types of technical indicators we want to use in combination

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gold & silver prices - tricksie hobbitses with the Preciouses

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dow vs gold - log-grid comparison charts

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2010-9-1 night.FXC.dollar

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gold price model part 11

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How To Use Moving Average Crossover Like A Pro *Forex Trading*

introduction to moving average crossovers and simple trading systems part one there are many other useful momentum indicators moving average crossovers like Bollinger Bands moving averages can also be adapted to momentum indicators as well as support and resistance markers by plotting multiple moving averages of different time spans on our charts we create a useful momentum indicator the moving average crossover moving average crossovers come in two types the first type is price which crosses over or under a given moving average the second one is shorter duration moving averages which cross over or under longer slower moving averages each type signals changing momentum that could be an early signal of a changing price trend when the price crosses over or under an important moving average that crossing can be a signal of a possible momentum change which in turn signals a trend change rather than rely on just DD B's to signal changes in momentum you'll get a more reliable signal of changes in momentum and trend by waiting for confirmation from one or more other momentum indicators like moving average crossovers for example traders using both types of signals would not close a long position until both of the following signals occur price moves below the dbb buy zone and price crosses below a moving average in other words they wouldn't bet on a trend change until they get both of the above signals confirming the end of an uptrend let's see this idea in action look at figure eight point nine below in addition to a set of double Bollinger Bands there's a 50-day SMA note that during the months of October and November of 2010 gold fell twice out of its upper dbb by zone but never made a clear lasting move below its 50-day SMA those who used only the DBB rules lost time and money closing and then re-entering long positions as gold bounced out of and back into its DVD buy zone in contrast those who held their long positions until they saw confirmation that the uptrend was over from both of the following signals continued to ride the trend higher price moving below the d BB buy zone price crossing below the 50-day SMA to confirm a change in momentum and the trend similarly traders using both indicators to confirm momentum changes might not take bets on new uptrends until they get confirmation of strong upward momentum from both of the following signals price crossing above the 50 period SMA price entering the d BB buy zone new downtrends until they get confirmation of strong downward momentum from both price entering the DB b sells own price crossing under the 50 period SMA

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