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No Indicators - No Worries System

Discussion in 'Signal Services & Software' started by TopPips, Aug 11, 2010.

  1. TopPips

    TopPips New Member

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    We all have seen tons of indicator based systems come and go. Anyone who has been around in the forums long enough know this as a fact. I can keep on going, nevertheless my goal here is to show you how you can trade without indicators and be successful which is the bottom-line of course.

    Let me introduce " No Indicators - No Worries System " aka "Ni-Now" pronounced "nee-noew"

    • First thing first, remove all indicators from you charts. I mean ALL indicators, not even moving averages.
    • Second, Open Weekly timeframe and Draw Trendlines
    • Third, Do the same with Daily and 4 hour
    ( Don't worry if you don't how to draw trendlines, we will discuss that later )

    What we are looking for is:
    • Where the price currently is?
    • Where it is heading towards?
    • Where will it stop?

    These three questions is the key to trading successfully. To answer these question you need to follow the three steps I mentioned above. Once you setup the charts accordingly, start looking at the price like you are reading a book. Charts tell a story and as a trader we need to learn to interpret their meaning.

    You must be thinking it is all words and no action. Bookmark this thread and come back to see the charts that I'll post in real time before the market moves. You will have to see it to believe it.

    Regards
    Victor
     
  2. TopPips

    TopPips New Member

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    Ok...so lets get started. Below are two charts...first one is EURUSD and second AUDUSD.

    EURUSD made a drop yesterday after climbing slowly for some time now. What we are looking right now is for the price to touch the bullish trendline support. However before it does that we expect a bounce upward to 1.2900 or 1.3000 depending on the momentum.

    [​IMG]

    AUDUSD is now being traded in a critical region of 0.9000 to 0.9030 . If AUDUSD is not able to break 0.9030 and breaks below 0.9000, it will find selling pressure targeting 0.8925, 0.8850 followed b 0.8750

    If price reaches 0.9060 to 0.9100 region and reverses, look to sell targeting 0.9000, 0.8925, 0.8850 followed by 0.8750

    [​IMG]


    Let me know what you guys think?
     
  3. TopPips

    TopPips New Member

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    Both EURUSD and AUD analysis from my last post went exactly as predicted.

    EURUSD fell +250 Pips from 1.2900 as per my last post. AUD on the other hand reached missed out second target by 5 pips at +150 Pips.
    Both these charts were posted in real-time before the move happened.

    Looking ahead this week I look to go short around on EURUSD around 1.2850 – 1.2875 level targeting 1.2800, 1.2740 & 1.2600 If price happens to reach
    1.2960 – 1.3000, I will look for shorts targeting 1.2900, 1.2800 & 1.2740

    [​IMG]

    Last week's AUD candle engulfed 2 weeks prior candles ( same for EURUSD by the way ) this shows same bearish momentum and I will look to go short on rallies. Looking short at 0.8930, if price keeps going up then Short between 0.8975 to 0.9000 level targeting 0.8900, 0.8855 , 0.8760 followed by 0.8600

    [​IMG]

    Entries will be based on simple price action and candle patterns.
     
  4. TopPips

    TopPips New Member

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    1.2920 Resistance Holds On EURUSD

    We must see a break of 1.2921 previous high to confirm further move to the upside. But EURUSD failed to break 1.2921, it has made a high of 1.2918 and fallen down to our suggested support level at 1.2890. Now we will be looking for price stability and reversals at the current support level 1.2890, to consider any long positions targeting towards the resistance at 1.2900 initially.

    AUDUSD Bulls Find Tough Resistance

    AUDUSD finds hard resistance at 0.9170 level, it tried to break this level several times but failed to do that. AUDUSD is now trying to pullback from 0.9170 level potentially towards the suggested support levels. AUDUSD currently has support at 0.9105, possibly we could see this pair targeting this level to find some support, however break of this level will open up doors for further downward extension towards 0.9055 & 0.9020
     

    Attached Files:

  5. TopPips

    TopPips New Member

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    USDCAD initially made a false breakout from its resistance level at 1.0470 and made a high of 1.0508 and failed to sustain above 1.0470. After increased interest rate decision from BOC from 0.75% to 1%, USDCAD made a strong push to the downside making a low of 1.0345. Considering the current sentiment fundamentally and technically, USDCAD is bearish and CAD may strengthen in coming weeks ahead targeting parity once again.

    [​IMG]
     

    Attached Files:

  6. TopPips

    TopPips New Member

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    EURUSD is currently trading in a minor bullish channel. Yesterday it has made a low of 1.2658, but was unable to continue its downward extension. If EURUSD breaks below its current support at 1.2680, then EURUSD might continue to extend its downward extension to test its lows at 1.2658 and beyond.

    Trade Suggestion: Go short if price breaks below 1.2680 targeting 1.2650,, 1.2600. Break below 1.2600 may push this pair to 1.2400.

    [​IMG]
     
  7. TopPips

    TopPips New Member

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    EURUSD is currently trading in a minor bullish channel. Yesterday it has made a low of 1.2658, but was unable to continue its downward extension. If EURUSD breaks below its current support at 1.2680, then EURUSD might continue to extend its downward extension to test its lows at 1.2658 and beyond.

    Trade Suggestion: Go short if price breaks below 1.2680 targeting 1.2650,, 1.2600. Break below 1.2600 may push this pair to 1.2400.

    [​IMG]
     
  8. TopPips

    TopPips New Member

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    Cup & Handle Formation.
    As we look into GBPAUD 1 hour chart we are able to see clear formation of Cup & Handle chart pattern. Cup & Handle chart pattern is considered to be reversal pattern. GBPAUD is currently on downtrend, this pattern signifies possible reversal on this pair. This could be evidence for the price to move higher fron this point.
    Considering all the factors go long targeting initially 1.6670, 1.6720 & 1.6820.

    [​IMG]
     
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