GBP/USD Daily Outlook

Intraday bias in GBP/USD remains on the downside as the correction from 1.6822 continues to 61.8% retracement of 1.6251 to 1.6822 at 1.6469 and below. At this point, there is no clear evidence of larger trend reversal yet even though there is bearish divergence condition in daily MACD. Thus, we'd expect strong support above 1.6251 to contain downside and bring rebound. On the upside, above 1.6654 minor resistance will turn bias back to the upside for 1.6785/6822 resistance zone.

In the bigger picture, price actions from 1.3503 (2009 low) are treated as consolidations to long term down trend from 2.1161. Rise from 1.4813 is viewed as the third leg and is still in progress for 1.7043 and above. But we'd expect strong resistance from 50% retracement from 2.1161 to 1.3503 at 1.7332 to limit upside and bring reversal. Considering bearish divergence condition in daily MACD, break of 1.6251 will argue that rise from 1.4813 is likely finished and will turn outlook bearish.

Autochartist - A latest Technology - Liteforex

A study of charts will no longer take you much time.

Trend direction, technical analysis patterns and key price levels will be determined automatically by the Autochartist program.

LiteForex’s clients can use this service for free.

HOW IT WORKS:-

Autochartist independently forecasts the market development by analyzing charts and identifying patterns.

With the help of this web-application you will feel more confident in your trading decisions or you can just rely on Autochartist’s indicators and follow the program script.

ADVANTAGES:-

Convenient and intuitive program interface suits both professionals and beginners.
Autochartist does not require constant attention: its trading signals will prompt you to buy or to sell in time. Technical analysis patterns are identified by the program independently.
The application does not require installing any additional programs and it works in the browser window.
To start to work with this web-application, you need to SIGN IN.

AUTOCHARTIST AND METATRADER 4/5:-

Autochartist acquires new features when integrated into MetaTrader 4/5, keeping at the same time all his advantages.

• The Chart Patterns indicator is so improved that technical analysis patterns and trend directions are identified automatically.
• The indicator warns you of breakdowns of support and resistance levels
• PowerStats and Fibonacci indicators function as well

Moreover, Autochartist is compatible with other indicators supported within the platform. You only need to choose a suitable one from the list of user’s indicators and to place it onto the chart.

To be able to use this indicator, please download the setup program from our site after signing in.

FOR FURTHER DETAILS PLEASE GO TO THIS LINK;

http://www.liteforex.com/trading/tools/autochartist/

Latest Forex Strategy - (Trade made simple) By LiteForex

Trade made simple:

Best time-frames for this strategy are H1 and H4. Trading signals are valid from the beginning of the European session to the middle of the American one.

Requirements:

You all need to install following custom indicators; TDI and Synergy APB.

To install them, put the files Synergy_APB.ex4 and TradersDynamicIndex.ex4 into the folder

C:\Program Files \SigTrader\experts\indicators,

And restart trading platform and drag-and-drop indicators from the list to the chart.

 

How it works?

Please note the following details to use this strategy; 

Entry Points:

The main signal to enter the trade is the cross of the red and green lines of TDI indicator. Once green line crosses the red one from above, sell positions can be opened. To form a buy signal green lines have to cross the red one from below. The angle between two lines should be at least 30 degrees.

Sell

 

Buy

 

The next step is Synergy APB analysis. Buy positions can be opened at the first or second blue candle after the sequence of the red ones. Sell positions can be opened at the first or second red candle after the sequence of the blue ones.

A trader should also use Stochastic indicator as a confirmation. The indicator confirms buy signals if its lines are in oversold zone below the level of 20. If the lines are above the level of 80, it is an additional signal to sell. If Stochastic lines are in the middle they should be directed the same way as the future position: upwards to buy, downwards to sell.

Exist Points:

Once a trader enters the market, green line of the TDI indicator becomes the most important. A position should closed as soon as the green line changes its direction to the opposite of the one of position. "Stop Loss"can be placed at the highs/lows of previous candles or 20-30 pips apart from the entry point.

Download links:

http://www.liteforex.com/download/indicators/Synergy_APB.zip

http://www.liteforex.com/download/indicators/TradersDynamicIndex.zip