logo

Forex Trading tools, Trade Forex online , in Chennai , in Bangalore , in Hyderabad , forex-tamil, tradingwithtamil

PAYPAL FOREX BROKER,FOREX BROKERS NEWS,ISLAMIC FOREX BROKERS,BEST FOREX BROKER LIST,FOREX BROKER SPREAD

Mapping our Time Frame-Summary

PAYPAL FOREX BROKER,FOREX BROKERS NEWS,ISLAMIC FOREX BROKERS,BEST FOREX BROKER LIST,FOREX BROKER SPREAD

The mapping method can also be applied to longer term trading such as swing or position trading. Exactly the same principles apply as shorter term trading just we calculate levels in the longer term…easy! This is ideal for traders who do not want to devote as much time watching the charts or prefer the less frenetic pace of holding positions open for longer.

Instead of calculating the daily PP of the prior session, we calculate the PP of the prior week. The weekly PP tells us about the longer-term sentiment.

We also calculate HOPS´s and LOPS´s based on the weekly range. HOPS1 and LOPS1 will include the high and low of the previous week, while HOPS2 and LOPS2 will include the range of the week before the last week.

Summary

Ok, now that you have read the lesson material – hope it was not too traumatic, please make sure you completely understand and/or do the following:

In this lesson, we go through the mechanics of how we determine the trend at any situation. It is a very easy but objective way to do it. Sometimes when we use a technical indicator to determine the trend there are situations in which the trend is not very well defined. With our methodology, we can determine the trend at any market level, objectively.

Please be sure to understand the following:

  • What are pivot points and why they work
  • What are the mechanics of our methodology and what each level means
  • Other uses for our methodology

Good luck!

Tags:PAYPAL FOREX BROKER,FOREX BROKERS NEWS,ISLAMIC FOREX BROKERS,BEST FOREX BROKER LIST,FOREX BROKER SPREAD,Forex Trading tools, Trade Forex online , in Chennai , in Bangalore , in Hyderabad , forex-tamil, tradingwithtamil
03 Jun 2014 8:18 pm Posted by tamilforex

 
WhatsApp chat