Trading Indicators: ADX, RSI and MACD.
Big Weekend Edition for 2-5-2012
It’s Super Bowl weekend this weekend, and yes, we even watch it here in Canada. While I’m not a huge NFL football fan I have several friends who are and we’re going over to their house to watch the game. Just like in the US we’ll be hunkered around the TV filling our faces with chilli, chicken wings and beer enjoying the game and waiting for the famous halftime TV commercials – which are a highlight all their own.
This week I start a new mini-series in the Lesson section about trading indicators. I know many of you think that trading with indicators is a “no-no” but they can be a help, especially to new traders, if you know how to use them right. Over the next few lessons I’ll be featuring my three favourite indicators: ADX, RSI and MACD and show you how I tweak them to make them ultra responsive and how you can use them to help you generate super accurate money making trading signals.
For the full ezine with charts:
http://supportandresistance.com/ezine2-5-2012.html
Enjoy this week’s issue,
Erich
erich@tradershelpingtraders.com
Papertrades
Currencies Market Overview
Australian Dollar
CONTNUATION of Long 2 March Australian Dollar at 10650 (February 2)
Exit Stop: 10520 (stop)(GTC)
Approximate Risk: $1300 per contract
Profit Target: 10720 (limit)(GTC)
Approximate Profit: $700 per contract
Degree of Risk: HIGH
Canadian Dollar
Watch List – on the lookout for a pullback and another chance to BUY.
Euro FX
If the March EuroFX opens at or above 13051
SELL 2 March EuroFX at 13050 (stop)(day)
If filled: Exit Stop: 13200 (stop)(GTC)
Approximate Risk: $1875 per contract
Profit Target: 12900 (limit)(GTC)
Approximate Profit: $1875 per contract
Degree of Risk: Moderate to HIGH
Japanese Yen
Watch List – I’d love to see support come into the market to start this week. That would be a good enough reason for me to BUY.
Energies Market Overview
Mini – Natural Gas
BUY March mini-Natural Gas at 2620 (stop)(limit)(day)
If filled: Exit Stop: 2260 (stop)(GTC)
Approximate Risk: $900 per contract
Profit Target: 2990 (limit)(GTC)
Approximate Profit: $925 per contract
Degree of Risk: Moderate
Financials/Indices Market Overview – FLAT
Grains Market Overview
Canola
CONTINUATION of Long March Canola at 5220 (February 1)
Exit Stop: 5220 (stop)(GTC)
Approximate Risk: $0 per contract
Profit Target: 5500 (limit)(GTC)
Approximate Profit: $560 per contract
Degree of Risk: Moderate to HIGH
Corn
CONTINUATION of Long March Corn at 609 (January 20)
Exit Stop: 630 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 627 (January 24)
Approximate Profit: $900 per contract
Meats Market Overview
Feeder Cattle
If March Feeder Cattle opens at or below 15600
BUY 2 March Feeder Cattle at 15610 (stop)(day)
If filled: Exit Stop: 15420 (stop)(GTC)
Approximate Risk: $950 per contract
Profit Target: 15820 (limit)(GTC)
Approximate Profit: $1050 per contract
Degree of Risk: HIGH
Metals Market Overview – FLAT
Softs Market Overview
Cotton
CONTINUATION of Long 2 March Cotton at 9550 (February 3)
Exit Stop: 9385 (stop)(GTC)
Approximate Risk: $825 per contract
Profit Target: 9940 (limit)(GTC)
Approximate Profit: $1950 per contract
Degree of Risk: Moderate
This week’s Lesson is at
http://supportandresistance.com/THT/members/movies/2012/LessonFeb6.wmv
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