Forex:SSRFV3 system

Today i found another system seems profitable to be used. I planned to share here in my blog. This system being used since 2010 if i'm not mistaken. The confounder for this system was master SSRFV.
This system used a combination of Fibo + stoch.
This is how this system look like:

The setting for Fibo in this system as followed:
0 = Low(%$)
0.236 = S1(%$)
0.786 = R1(%$)
0.382 = 38.2(%$)
0.5 = Buy / Sell(%$)
0.618 = 61.8(%$)
1 = High(%$)
1.382 = TP1(%$)
1.618 = TP2(%$)
-0.382 = TP1(%$)
-0.618 = TP2(%$)

stoch (5,3,3) + stoch (14,3,3) 

Dont worry if you dont know how to adjust setting of this system manually in your MT4, i will upload this system's template.

Lets focus on how this system working?
Did you noticed in the previous picture got white & yellow circle?
Those are the main area that we will focus whenever we want to start our trade.
Rule no. 1 ( FOR MANUAL SETTING )
This fibo based on daily CS. We started tu put fibo from the highest point to the lowest point of the previous day CS (regardless whether yesterday CS bullish or bearish).
For example:

Rule no.2
After setting up fibo on daily CS, switch TF to 15m TF.

Then your chart already can be used for trading. Simple isn't it?
Lets focus on the yellow & white circle in the picture above.
Those are the main area that we have to pay attention or in other word, those are the area where we will pull the trigger to enter the market.
3 area on Fibo:

• High
• Buy/Sell (pivot)
• Low

2 area on stoch:

• level 80
• level 20

How or when do we enter the market?

1. Whenever CS break and closed above (for buy signal) or below (for sell signal) one of these 3 fibo area.
2. Both stoch in the level of 80 ( for buy signal) or level 20 ( for sell signal). 

 Example :

SSRFV3 system:
Download HERE!!..

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Forex:Euro Treads Water Ahead of EU Summit

Euro continues to tread water as markets are awaiting the EU summit later this week. German Chancellor Merkel will meet with French President Hollande today in preparation of the two-day EU summit in Brussels on Thursday and Friday. Merkel was blunt in her rejection of Eurobonds and said yesterday that she doesn't see "total debt liability" as long as she lives. And, her spokesman Seibert reiterated today that "even within Germany after 60 years there isn't joint liability", and Merkel doesn't see it in Europe either. Yesterday, US rating agency cut Germany's rating to A+ from AA-.

Spanish Prime Minister Rajoy warned that the country "can't finance at current prices for too long" and there are institutions that have "no market access" in Spain, Italy and other countries. He said Spain is "going through a very difficult economic situation" and need "strong measures from Europe". Rajoy pledged to push for banking and fiscal union in this week's summit. Meanwhile, Economy Minister de Guindos said that EC President Van Rompuy's outline of banking union will be discussed at the summit.

Italian Prime Minister Monti won the first two of confidence votes yesterday on labour reforms. The final two votes are due today. Italy sold EUR 9b in 6-month bills today with up jumped to 2.96%, up from 2.10% in May's auction. Italian treasury will try to sell as much as EUR 5.5b in 5- and 10-year bonds tomorrow.

ECB said it allotted EUR 26.295b to banks in the region at its three-month refinancing operation. 50 banks bid for the funding, comparing to 33 participated in last operation in May. That's a slightly higher amount comparing to the EUR 25.13 b in three months funds maturing later this week. And, around EUR 1b of net rise in liquidity would be resulted. Meanwhile, there are speculations that since ECB won't restart the bond buying program, the central bank might opt for a rate cut next week.

On the data front, US durable goods orders rose more than expected by 1.1% in May while ex-transport orders rose 0.4%. Germany CPI dropped -0.1% mom in June and moderated to 1.8% yoy. UK BBA mortgage approvals dropped to 30.2k in May while CPI reported sales improved to 42 in June. New Zealand trade surplus came in at NZD 301m in May, inline with expectation.
(actionforex.com)

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Forex: EUR/USD Mid-Day Outlook

EUR/USD dips further today but is still holding above 1.2435 minor support and intraday bias remains neutral. With 1.2435 intact, corrective rebound from 1.2287 could still extend higher. Above 1.2530 minor resistance will flip bias back to the upside for 1.2747 and then 61.8% retracement of 1.3282 to 1.2287 at 1.2902. Though, break of 1.2435 will indicate that such corrective rise is already completed and will flip bias back to the downside for 1.2287 and below.
In the bigger picture, fall from 1.4939 is treated as a falling leg inside the consolidation pattern that started at 1.6039 (2008 high) and could extend to 1.1875 low and below. In that case, though, strong support is expected from 1.1639/1875 support zone to contain downside and bring rebound. After all, such consolidation would extend further inside range of 1.1639/6039 for some more time. On the upside, break of 1.3486 resistance is needed to indicate completion of fall from 1.4939. Otherwise, outlook will stay bearish even in case of strong rebound.

Daily Pivots: (S1) 1.2463; (P) 1.2511 (R1) 1.2551

 

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