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Trading Systems and Strategies
This is how to find TRUE overbought/oversold currency pairs...
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[QUOTE="GMMA-Trader, post: 129991, member: 20146"] Hey traders, Today's Wednesday, June 14 2017. Here's a crash-course on how I use my personal indicators. I use at least 3 indicators as part of a complete trading strategy; however, for the sake of simplicity, I am going to talk about my "Reversal Dots" indicator mostly in this forum. The "Reversal Dots" indy only paints blue dots and red dots on my charts. These Dots do not repaint...EVER. What I mostly look for is when: Price is moving in one direction and Dots of different colors are being painted. This event tells me that Price has reached an important price level...call it: a strong pivot level or support/resistance level, if you wish...it doesn't matter. At this stage, Price has only 2 choices..... Choice #1): Move immediately in a different direction. Or... Choice #2): Continue in the same direction it has been moving...only for awhile; Price will always reverse soon after. The funny part about these events is that...quite often these price reversals will occur around the Banks price levels ie the Round Numbers levels. Example: 1.09000, 1.48500. Here's the indicator that I use to highlight the Banks price levels. [/QUOTE]
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