Weekly Open High Low Close Trading Strategy is also good idea according to my experiments only please. But must add bollingerbands and 50 moving average for measuring the market Trend in 1 hour chart. When middle band crossed over 50 moving average, we usually know, where market will be going.
If you don,t know how to put in horizontal line weekly,s open, high, low and close just go to your meta trader chart. Just do assigment on Monday:-
Above picture is from 4 hours chart and we can see that crossing of 20 moving average at previous week,s low including close price. That means we can sell.
Alternately, if we, put it in 1 hour chart, 20 moving average has crossed Previous Week,s Close and Low as picture below on Tuesday 4th March/2015.
In the second week also we can see the crossing of 20 moving average at weekly,s low and close at 1 hour chart on Tuesday as shown below.
In the third week, we can see that though we cannot see crossing any open price, high, low and close, since the previous week,s low and close very near and the price already touched the weekly,s low including previous week,s close on Monday, it goes higher on Tuesday reaching the previous week,s High as shown below.
In the fourth week, 20 moving average crossed on Monday and reached upto previous week,s high. After touching previous week,s high on Thursday, we could sell it since the price crossed 20 moving average. We can see below, that previous week,s close and previous week,s high very far to each other, That means market is sideways.
In the fift week or 1st week of April, we can see that crossing of 20 moving average at previous week,s close on Monday and crossing up of 20 moving average at previous week,s low on 2nd April/2015. That means market is sideways.
We can also see on 31st Match, crossing down at previous week,s low by 20 moving average, In that case we should aware about that . Because it is already crossed weekly,s open/close early on Monday or weekly,s opening. But if it crossed down on Wednesday/Thursday, It could go lower Or, only when if it included previous week,s close and low, it could go lower. We can see that previous week,s close is above and previous week,s low is bottom or very far to each other between previous week,s low and close. That is why, better to trade Wednesday to Friday. Moreover, in the 1st month market always use to reverse.
In conclusion, we can say that, for surely getting profit, we should have trade only twice in a month only when previous week,s high or low very near to previous week,s close price or crossing at both previous week,s high or low and previous week,s close by 20 moving average.
If the previous week,s High or Low is far away from the previous week,s close price, market is sideways.
If you don,t know how to put in horizontal line weekly,s open, high, low and close just go to your meta trader chart. Just do assigment on Monday:-
1. Open your meta trader
2. Go to weekly chart
3. Go to file (top extreme left corner)
4. Save as (if you are planning to eur/usd it will look as EURUSDm10080 in the file name. Just type it as EURUSDm10080.html and save it to your desk top.
5. Now go desktop
6. Open Eur/Usd file from your desktop.
7, Now copy and paste previous week,s open price, High, Low and Close to your meta trader or draw it in horizontal line
After pasting in horizontal line, previous week,s open price, High, Low and Close, add 20 moving average to your meta trader.
Now wait for crossing by 20 moving average at these horizontal lines.
Let us look back now Eur/usd,s previous week,s open price, High-Low and close from the 1st March/2015.
For trading for 1st Week,s of March, we will add the previous week,s open, high-low and close of 22nd February/2015
That is Open price is 1.1378
High price is 1.1392
Low Price is 1.1159
Close Price 1.1159
For trading for 1st Week,s of March, we will add the previous week,s open, high-low and close of 22nd February/2015
That is Open price is 1.1378
High price is 1.1392
Low Price is 1.1159
Close Price 1.1159
Above picture is from 4 hours chart and we can see that crossing of 20 moving average at previous week,s low including close price. That means we can sell.
Alternately, if we, put it in 1 hour chart, 20 moving average has crossed Previous Week,s Close and Low as picture below on Tuesday 4th March/2015.
In the second week also we can see the crossing of 20 moving average at weekly,s low and close at 1 hour chart on Tuesday as shown below.
In the third week, we can see that though we cannot see crossing any open price, high, low and close, since the previous week,s low and close very near and the price already touched the weekly,s low including previous week,s close on Monday, it goes higher on Tuesday reaching the previous week,s High as shown below.
In the fourth week, 20 moving average crossed on Monday and reached upto previous week,s high. After touching previous week,s high on Thursday, we could sell it since the price crossed 20 moving average. We can see below, that previous week,s close and previous week,s high very far to each other, That means market is sideways.
In the fift week or 1st week of April, we can see that crossing of 20 moving average at previous week,s close on Monday and crossing up of 20 moving average at previous week,s low on 2nd April/2015. That means market is sideways.
We can also see on 31st Match, crossing down at previous week,s low by 20 moving average, In that case we should aware about that . Because it is already crossed weekly,s open/close early on Monday or weekly,s opening. But if it crossed down on Wednesday/Thursday, It could go lower Or, only when if it included previous week,s close and low, it could go lower. We can see that previous week,s close is above and previous week,s low is bottom or very far to each other between previous week,s low and close. That is why, better to trade Wednesday to Friday. Moreover, in the 1st month market always use to reverse.
In conclusion, we can say that, for surely getting profit, we should have trade only twice in a month only when previous week,s high or low very near to previous week,s close price or crossing at both previous week,s high or low and previous week,s close by 20 moving average.
If the previous week,s High or Low is far away from the previous week,s close price, market is sideways.
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