Manus PSR (PIVOT, SUPPORT & RESISTANCE)
 

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 .
http://img35.imageshack.us/img35/6796/clickbank06.jpg
DOWNLOAD LINK :
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:
http://img43.imageshack.us/img43/2/62258124.png
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;
http://img22.imageshack.us/img22/1842/psr.gif
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 :
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 :
So the Formula for Break 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 :
http://img513.imageshack.us/img513/431/45407561.gif
For the refference book is TRADING BY THE BOOK by Joe Ross :
DJVU Reader :
How we made those Ross Envlope by using Fibonachi Retrachement ?
Here's :
1st Fibonaci (Fibo Level):
2nd Fibonacci (Fibo Level) =
I hope this will be very2 usefull for us.

Kind Regards;

:)

Manus168