MACD, Slow Stochastic, Candlestick Counting Technical Analysis method

Indicators Setting:

Slow Stochastic: Averaging period fast: 7 | Averaging Period Slow: 7 | Observation Period: 5
MACD: First EMA Period: 20.0 | Second EMA Period: 26.0 | Signal EMA Period: 9.0
Candlestick Formed: 2 (Guaranteed)
Time Frame: Daily

Post Analysis:
So after the signal prediction i have done yesterday on the 20 November 2009 the second red candlestick will form is guarantee. And everything went correctly as you can see on the chart below the second red candlestick is formed.


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GBP-USD Technical Analysis - 14 November 2009

Pound-Dollar Technical Analysis 14 November 2009

Monthly Time Frame:
Moving Average Convergence Divergence (MACD) - UP
Slow Stochastic: UP
Bollinger Band Position: Middle
Overall Sentiment: Bullish

Weekly Time Frame:
Moving Average Convergence Divergence (MACD) - UP
Slow Stochastic: UP
Bollinger Band Position: UPPER BAND
Overall Sentiment: Bullish

Daily Time Frame:
Moving Average Convergence Divergence (MACD) - UP
Slow Stochastic: UP
Bollinger Band Position: UPPER Band
Overall Sentiment Bullish.

Using the combination of 3 indicators (MACD, Slow Stochastic, and Bollinger Band), we can see that the GBP-USD is highly bullish. There is a possibility of big breakout upside which may break the resistant level 1.6692 to go all the way up to 1.7500. This analysis based on long-term market movement.

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EUR-USD Technial Analysis - 4 November 2009

After a long-time i have not updated this blog i decided to do it again today. November 4, 2009. We will take a look at EUR-USD long term trend direction based on MACD, Bollinger Band, and Slow Stochastic on Daily, Weekly, and Monthly time frame.

Daily Time Frame Chart Analysis:
MACD: Down
Slow Stochastic: Down
B.Band Position: Bottom
Overall Conclusion: Bearish

Weekly Time Frame Chart Analysis:
MACD: UP
Slow Stochastic: Down
Bollinger Band: Middle
Overall Conclusion

Monthly Time Frame Chart Analysis:
MACD: UP
Slow Stochastic: UP
Bollinger Band: Middle
Overall Conclusion: Bullish

Overall Summary:

• Short-Term movement of the EUR-USD is bearish
• Long-Term movement is bullish
• Despite of the bullish assumption, the bollinger band indicator show that the pair has reach its ideal position which the middle band on monthly and weekly time frame.
  This could trigger a sudden reversal downward (Unexpectedly) due to economic downturn. Or moving sideways.
• So my analysis 60% Bullish 40% bearish
  

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Ultimate Focus - Winning Pips

Trading in forex has too many thing to look at and consider before making your move to open a trade position. Many things involve such as time, technical indicators, economy data release, market volatility movement, etc to consider before entering the trade. This often resulted in trader's lost of concentration and fail to recognize the ultimate goals which is the green pips.

Being too technical with no regards to instinct can bring more devastating effect to a trader because they don't always achieve their goals as expected based on analysis. As for those who merely focus on making pips can be more profitable and less stress because they only focus on making the green pips. So the advice for those who are very technical just get relax yourself and discover the feeling of making green pips instead of focusing on the chart.

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