Accurate Price Action Strategy

Easy Trade Using Support Resistance

How to know entry with key level h4 or daily from naked chart on your metatrader ? The answer is easy, just entry with valid support resistance from h4 time frame or daily and we’ve to combined it with leading economics indicator. This called accurate price action strategy or naked trading strategy. How to read accurate and valid support resistance is first you have to read on four hour time frame on your chart. See picture below : πŸ˜‰

support-resistance-strategy

Remember this price action strategy using reading relevance support resistance have to combined with reading value from leading economics news that we can use it before decided on selling or buying.

There are two types of economics indicators that you need to be aware of:

  • Leading indicators often change prior to large economic adjustments and, as such, can be used to predict future trends.
  • Lagging indicators,however, reflect the economy’s historical performance and changes to these are only identifiable after an economic trend or pattern has already been established.

So, here you’ve to read about leading and lagging economics news that we can use as indicators below πŸ˜‰

LEADING ECONOMIC NEWS :

1. Manufactures

  • Service PMI (if >50 bullish, and if
  • Industrial Production
  • Factory Orders
  • Asset Purchase Facility

2. Sales

  • Retail Sales
  • WPI m/m (whosale price index)

3. Building Permits dan Housing Start

  • Building Permits
  • Housing Start

4. Home/Housing Sales

  • Existing Home Sales
  • Pending Home Sales
  • New Home Sales
  • Halifax HPI m/m (House Price Index)

5. Business sentiment

  • UoM (University of Michigan)
  • Consumer Sentiment
  • Philly (Philadelphia) Fed Manufacturing Index

This leading economics above that we have to concern about it, because all each value from leading economics above is very dominated on making market trends all the way. You can see difference in value of actual, forecast or previous month. More big difference in value from actual and previous or forecast, so more valid to predict on major trend continue or reversal. πŸ˜‰

[adsenseyu2]

And this below lagging economics news that we don’t have to worried about it or even we can ignore this value from lagging economics indicator below, because this lagging economics news is all spike, so not a major trend. πŸ˜‰

LAGGING ECONOMIC NEWS :

  • Gross Domestic Product (GDP)
  • Unemployment Rate
  • Employment Rate
  • Non Farm Payrolls
  • Average Weekly Earnings
  • Personal Income
  • Average Earning Index 3m/y
  • Average Weekly Earnings
  • Core CPI
  • Final CPI
  • Interest Rates or Rate Statement
  • Trade Balance

Once again…combined your key level entry on valid support or resistance oh four hour time frame or daily time frame with value from leading economics indicators, and entry only after news release, its mean after value from leading economics news release !!. If you do this, so you won’t losing your money again in forex market. This trading method is a part from accurate price action strategy. πŸ˜‰

[adsenseyu1]