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Rootek System Forex Trading Strategy

This strategy is used for any currency pair and timeframe is any timeframe. The indicators used in this strategy are I_TDTL_v2, Ichimoku and Tarzan.
Rules for Long entry are as follows.
1. Wait for price bar to close above green i_tdtl line.
2. The candlestick bar has to be above the Ichimoku cloud.
3. Tarzan indicator has to be green.
Target depends on currency pair and timeframe. If you are trading EUR/USD on 4 hour chart you can take profit partially at 45 pips, 90 pips and 140 pips. Once you reach first profit target move your stoploss to entry point. After you hit the second target move stoploss to entry of +45 pips. Stoploss is 25 pips for 30 min chart, 40 pips for 4 hour chart.
As you can see in the chart, price closes above I_TDTL line with price above Ichimoku cloud and Tarzan indicator green. This is your buy signal.
Rules for short entry are as follows.
1. Wait for price bar to close below the red I_TDTL line.
2. The Candlestick bar has to be below the aIchimoku cloud.
3. Tarzan indicator has to be red.a
Target and Stoploss are same as long entry. As you can see in the 4 hour chart price bar closes below the I_TDTL line with price below the Ichimoku cloud and Tarzan indicator red. This is your sell signal. ac

GBP/USD — Daily Forecast Technical Analysis — March 27th 2015

Hantec Markets brings you the latest technical analysis on the GBP/USD pair for the March 27th in this video.
GBP/USD — Cable chart has been continuing to fall away. Looking at the hourly chart I spoke about the support at 1.4835 and it has been drifing lower. There is nothing really decisive on the breakout yet. The outlook on cable continues to deteriorate. Looking at the daily chart we have resistance coming under 1.50 big figure. The big resistance zone between 1.4950 and 1.50 figure continues to cap gains. The Momentum indicators on the daily chart continues to suggest any sort of rally is a chance to sell. Looking at the hourly chart we have broken below the uptrend. We are in a range and in the process of breaking the range at the moment. The Momentum indicators in the hourly chart are increasingly in negative configuration. The 1.4870 acts like a pivot level. It was previously supportive and now has turned into basis of resistance. Anything you get into this level I will use it as a chance to sell.

What Is Forex Trading

Forex trading is a way of making profits by speculating the future direction of the currency by buying or selling the exchange rate of one currency against another. Let us consider the EUR/USD pair. If you believe the Euro will strengthen or appreciate against the US Dollar or conversely the dollar will weaken we buy the EUR/USD pair. Conversely if you believe the Euro will depreciate against the US Dollar you go short and you make profits if market goes in that direction. If market goes against you then you make a loss.

Why 3 Ducks Trading System Should Not Be Automated

The most important part of any trading system or approach is the trader. You as the trader is really the connecting force and it will be the traders actions either good or bad that will decide if it is going to be successful or unsuccessful. The 3 Ducks trading system is discretionary and they are not mechanical. A better way to explain is to compare it to a SATNAV of a car which tells which direction to drive but it does not control the car. I will do that part myself safer. So that means you as a 3 ducks trader will always need to hold the control and use your own discretion and judgement and I reckon a good trader will more constantly use their own discretion rather than blindly following the system. You should never attempt to automate this approach.

GBP/USD — Daily Forecast Technical Analysis — March 26th 2015

Hantec Markets brings you the latest technical analysis on the GBP/USD pair for the March 26th in this video.
GBP/USD — We had this decline yesterday to maintain this big resistance band between 1.4950 and 1.50 figure. I still think that this is a underperformer compared to other majors and still struggling to get above 1.50 big figure. We had a decent rally today but it has still more work to be deon. We still got no real signal from daily momentum indicators. Looking at the hourly chart this uptrend is still there and we have resistance coming at 1.5025. Cable is still struggling to gain any upside traction and we had a bit of bounce and I am very interested to see if it can continue with this. The Momentum indicators in hourly chart dont look positive yet. In terms of support the 1.4825 mark is key support area and below that 1.4720 mark.

Daily Forex News and Analysis — March 26th 2015

The US Indices finished in the red as a slump in technology and biotech sent the NASDAQ to its biggest decline in nearly a year and S&P 500 fell through key support levels. The NASDAQ fell by 2.37%, S&P 500 fell by 1.46% and Dow Jones lost 1.62% from its value. The US Dollar traded low against most major currencies after data showed US Durable Goods Orders fell unexpectedly in Februray fuelling uncertanity over strength of economy. The Core Durable Goods Orders report came at -0.4% and Durable Goods Orders at -1.4% both less than expected. Today Unemployment Claims is expected to remain at 291K and later in the day FOMC Member will speak. The Euro rose versus US Dollar to close at 1.0972 as weak data on US Durable Goods strengthened the case for delaying a potential Interest rate hike. Today GFK German Consumer Climate is expected at 9.8, M3 Money Supply at 4.3% and Private Loans at 0.1%. The Pound rose versus US Dollar to close at 1.4894 after upbeat Mortgage Approvals data although Greenback remained supported by hopes for near term US Rate hike. Today Retail Sales is epxected at 0.4% vs. -0.3% and CBI Realized Sales at 16 vs. 1 previously. Gold rose to close at $1,195 an ounce and Crude oil fell to close at $48.78 a barrel.

Learn Exponential Moving Average Trading Strategies

Roger Scott in this video talks about his favourite technical indicator, it is 20 day Exponential Moving average. The Exponential Moving Average is a variation of Simple Moving average. Before computers were widely used for market analysis traders relied on simple moving average indicators because they were easy and simple to calculate. It puts more emphasis on recent price action. A simple moving average reacts much slower compared to exponential moving average. This is the primary reason why most traders rely on exponential moving average. Adjust settings for 20 days because its a good setting for stocks, currency and futures markets. This is a great filter for trending markets. The next step is to wait for market to trade below the 20 day moving average. As you can see on the chart market resumes trend above the 20 day EMA. You can see that the 20 day EMA acts as a filter for strong trending markets and more importantly how it identifies pullbacks away from the trend.

GBP/USD — Daily Forecast Technical Analysis — March 25th 2015

Hantec Markets brings you the latest technical analysis on the GBP/USD pair for the March 25th in this video.
GBP/USD — I still see sterling as underperformer against the Euro and the reason to this is we hit the resisntance band at 1.4950 upto 1.50 big figure. The daily momentum indicators have rolled over and we are still trading underneath these daily moving averages and we have resistance consistently coming around 1.50 figure for the last few days. Loooking at the hourly chart we have this strong nice uptrend intact and now it looks like we are in the brink of breaking down. We tested yesterday the low at 1.4837 and slightly breached to the downside. 1.4825 was the overnight low. The hourly momentum indicators have drifted back into negative territory. We can make an argument for a double top pattern if it consistently trade below 1.4825 level then we can say it completes that pattern. Cable is struggling at the moment and this recovery don’t look positive and pressure is growing to the downside. Cable has not broken yet support and if it does then we could see a correction back towards 1.47 level.

Daily Forex News and Analysis — March 25th 2015

The US Indices closed lower for 2nd straight session dragged down by Energy sector. The Dow Jones fell by 0.58%, NASDAQ by 0.32% and S&P 500 lost 0.61% from its value. The US Dollar traded higher against most major currencies on higher than expected US Consumer Price Inflation and New Home Sales data. Today Core Durable Goods Orders is expected at 0.3% vs. 0.0% previously. Gold finished higher to close at $1,191 an ounce. Crude oil closed almost unchanged to close at $47.34 a barrel. The Euro dipped versus the US Dollar on a strong increase in New Home Sales data. On the 4 hour chart, EUR/USD is holding below resistance at 1.10. Staying below this line may lead the pair towards 1.07. However breaching it may take it to around 1.12. The Pound weakened versus US Dollar after a weak UK CPI report. On the 8 hour chart the GBP/USD has failed to cross above the Fibonacci 38.2% level. Holding below this level may lead the pair to around 1.47 while breaching it could lead it to test the next Fibonacci level of 1.51.

USD/CAD — Daily Forecast Technical Analysis — March 25th 2015

In this video the Trader Guy looks at currency pair USD/CAD pair for the March 25th session.
USD/CAD — During the session on Tuesday we fell below the 1.25 level but found enough support at 1.24, to turn things around and close at 1.25 level. Looks like we are going to continue to consolidate and we have a hammer candle at the bottom of the consolidation, which is a bullish sign. Signals are perhaps the buyers may go ahead and enter the market. On a break above the top of this hammer I am confident to go long because it fits well with the long term uptrend. I think it is only a matter of time before we breakout and head to 1.28 and then eventually 1.30. The 1.30 level is where we stopped durnig the financial crisis, several times we slammed into that and found it hard to break. I think that is the target. If we try to get there, 1.30 will offer quite a bit of resistance and we need to build up momentum. I think that is what we are doing right now. So I still favour buying dips as this is a nice supportive candle, if we break the top I will be a buyer

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