Manus PSR (Pivot,SUPPORT,RESISTANCE)

[manus168]

I want to share with you all my friend how we can trade as a naked trader. This is the 1st time i disclosse 1 of my naked trading strategies.
BUT
STEP.1
We must allready read CANDLESTICK MADE EASY .

DOWNLOAD LINK :

http://www.easy-share.com/1907874172/Candlestick Made Easy.rar

After you understand the principle of price pattern Bouncing (pages 28 to 30) & Break (pages 34 to 37) of the Candlestick, now we can go into ...

STEP. 2
Find the Opening Bar this day, you can change your charts into Daily timeframe find the "Open" example this day 1.47886 (Alpari US),
Here's the screenshoot of the Daily Charts Timeframe:

after that we can back again into the charts m15.
Mark with Horizontal Trendline 1.47886
STEP. 3
Take 3 number of 1.47886 so we get 147.
Now 147/3 = 49.
Resistance: 1.47886 + 0.00490 = 1.48376.
Support : 1.47886 - 0.00490 = 1.47396.
So we get;

Resistance = 1.48376
PIVOT = 1.47886
Support = 1.47396

ENTRY :
1. Look for price hit/touch the Support/Resistance
Watch the form of candle are they full of momentum or lack of
momentum (see the ebook Candle Stick Made Easy).
2. If They Lack Of Momentum ussually the next candle will be form as a
Bullish/Bearish Engulfing Pattern, Railroad, Dark Cloud, Piercing,
Morning/evening star, etc (Please read the ebook). so after they form wait 1 candle to be form as
a Bull (if they hit Support), a Bear ( if they hit Resistance).
So the Formula for Lack of Momentum or a Bouncing Trade is :

TOUCH (Support/Resistance) + Form Pattern + Confirmation Candle = next Candle Enter !

3. For Full Momentum situation (Break Trade), watch the Candle penetration
from the Support/Resistance, & pay attention the form of the candle
ussually the candle form is Long (Morubozu Pattern). because this trade
using m15 Timeframe i suggest we enter the Market like SRDC.1 Advance
Strategies Level.1, please read the ebook bellow :

http://www.forexsharing.com/484996

So the Formula for Break Trade :

BREAK SUPPORT/RESISTANCE (with Long Candle) + Wait the candle form @ outside Support/Resistance & confirm as a Bullish/Bearish Candle = Next Candle Open Trade.

EXIT:
StopLoss : 147/3 = 49 pips
Take Profit :
1st Target : 20 pips close partial of contrac, move the StopLoss to
Breakevent for the rest.
2nd Target : Pivot + 5 pips (for SELL); & PIVOT - 5 pips (For BUY).
3rd Target : 147 pips.

Pair to trade : EUR/USD
TimeFrame : m15


Another Strategies Twist (Tweak) :
After we did the Step 2 & 3, we can made a Ross Envlope base those Support & Resistance; see the example :

For the refference book is TRADING BY THE BOOK by Joe Ross :

http://mihd.net/fliv1h

DJVU Reader :

http://windjview.sourceforge.net/

How we made those Ross Envlope by using Fibonachi Retrachement ?
Here's :
1st Fibonaci (Fibo Level):

(from Resistance to Support/Upper to Bellow)
0 = Support
0.5 = PIVOT/TARGET
1 = Resistance
0.146 = SELL
0.854 = BUY
-0.146 = Strong RESISTANCE
-0.236 = Break This Level = BUY

2nd Fibonacci (Fibo Level) =

(From Support to Resistance/ bellow to upper)
-0.146 = Strong SUPPORT
-0.236 = Break This Level = SELL

I hope this will be very2 usefull for us.

Kind Regards;



Manus168