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The article aims to provide a comprehensive trading strategy for traders, who are new to the Forex Market.
Technical Indicators
The main focus is on the Trendlines, by reference, we will also be looking at the Candles, SMA and Bollinger Band, in this regard.
Trader shall be able to set up the indicators' value, listed below;
SMA - 30
Bollinger Band
  1. Price - close price
  2. Time period - 20
  3. Dev up & down - 2
  4. MA type - EMA

Graph 1

In this technical graph, we are looking at the USD/JPY 5 minutes' analyses. Innitially,we see there was a surge, and then dropped back to point A. In most cases, at this point we will be able to draw the upward trendline, the buying levels are at point A and B. When it breaks the trendline, with three candles staying below the line, that point C would be the break even level(The black line). At point C, trader must take profit.
Graph 2
From point C, there was another upward movement, trader should stay clam and wait for point a or point D. From point a, we can re-draw an upward trendline, and start taking short when we find point D, which three candles staying below the trendlines. More importantly, breaking the break even level. Ther…
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k_morocco avatar

good job

FXNOAD avatar

good article. 

TInna avatar
TInna 1 Nov.

wery well!

angelina_may avatar



good job

orto leave comments

Not more than 3 months ago I've been writing an article about how you can trade the 4:00PM London Fix, giving out an easy step by step guide on how to profit from the price action around that time. You can read more about it here: London Fix Strategy
In this article we're going to make one step further and automatize the whole process by using Dukascopy Visual JForex. This will be one of those strategy that will require no indicators and I'm going to use some of the blocks that I've already been using them in my previous article, and you should be already familiarized with them. I like to keep things simple so in this regard even if you don't have any programming skills whatsoever you will be able to understand the whole process.
Lets proceed first by giving a short summary of our strategy:
  1. Currency pair: GBPUSD;
  2. Time Frame: 1h;
  3. Target= 16 pips. Since beginning of the year the average pips volatility at 4:00PM was around 16.6 pips (see Figure 1);
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MobNaga avatar
MobNaga 13 Oct.

Nice work. FYI, Counter strategy (for GBP/USD) is good between 17 - 25(LondonTime) in last 10 years.

Likerty avatar
Likerty 23 Oct.

I'm sceptical about historical testing of volatility based trading systems as trading already formed candles and ones - still in the making (real-time) produces very different results..

Jignesh avatar
Jignesh 25 Oct.

Congrats Daytrader21 on finding a strategy and automating it, not an easy endeavor.

Daytrader21 avatar

MobNaga Thanks for the info I'll check that out. Likerty So far I've seen big difference between the backtesting results and what I get in real-time environment. Jignesh Thanks buddy.

Stix avatar
Stix 31 Oct.

Interesting and useful Article. Thank you very much. :) :)

orto leave comments
The use of the tool in the Fibonacci forex trading is one of the best ways to provide some movement in the market. But like most indicators, does not give the necessary certainty to the time of entry into operation. We used 2 analysis to get away with false entries, and thus avoid the stop's caused by misinterpretation. We know that this tool is used a lot waiting for a pause before continuing the trend cycle is called retraction, and the best entry points are obtained in 38.2%, 50% and 61.8%. These operations are areas used by different operating systems on the market. But now, back to the question, and how we can get a higher hit probability at these points? How to identify the best retraction in? With this question, let's look at the figure below:In these examples we saw that hears a retraction in mind three points mentioned, but what point would we expect to operate? Let's look at the other retractions performed prior to the actual movement.If we look now, we have seen previously that very spot there was a strong 50% reduction, in this case our input would be best at this point._____________________________________________________________________________ Let's look at other mod…
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Likerty avatar
Likerty 20 May

Newcomers often wrongly assume that fib's should act as support/resistance to the pip.. But these are just reference points in the overall range... Searching coincidence points with supply/demand areas is a good way to start.

Brasileiro avatar

Thanks guys for all the comments and liked by's!

Efegen avatar
Efegen 20 May

Good article +1

cristiano_cds avatar

The best article Dukascopy.

SpecialFX avatar

Fibonacci is one of the better technical tools out there, of the few that actually has any edge :) Good work!

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