Young Ho Seo / Profile

GBPUSD Market Outlook - 6 May 2019

In regards to our previous post, GBPUSD broke the previous PCZ level and made further 60 pips down. Having said that, market is bullish in general.

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Trading Tips for Newbie in Forex and Stock Market

This is the simplest explanation for Trading Science for newbie.

Q1: What is the trading ?

A1: Trading is profit seeking. Profit seeking is materializing the regularities in the financial market. If you made money from the market, you must found and detected some sort of regularities in the market. Some people call these regularities as correlation, patterns, trend, holes, or many other names. But they are all regularities regardless of how you call them. Even you are doing some sort of arbitrage trading, you are still making use of regularities that are known to few people.



Q2: What are the regularities trader should know for their live trading ?

A2: There are regularities from simple to complex. To make your life simple, I have gathered five most occurring and most important regularities for trader. They are trend, seasonality (additive + multiplicative), cycles, Fractal wave and correlation. Typically any of trading strategies are designed to capture one of these five regularities. Typically you need to mix and match several strategy to yield notable profit taking instead of just using one strategy.

Q3: How to capture these regularities for profit ?

A3: It is important to understand your tools. Instead of blindly applying MACD and RSI for your entire trading, you need to study each tool and strategy carefully on which market they are designed to work best. Especially it is important to understand each tool and strategy are typically designed to capture one of the above regularities. Hence, most of good traders are using multiple tools.

Q4: What else trader should know about ?

A4: Risk management and position sizing is the golden rule for successful trading. Key point is to understand these three variables for your trading.

Breakeven win rate
Success rate
Reward/Risk ratio
Physically and psychologically, with these concepts in your head, you will get a lot of buffer for losing trades but spring board for winning trades.

Q5: Any further tips on improving profit ?

A5: trade with deep decision making instead of superficial decision making. It is the quality matter and not quantity. It is useless that you trade fast reckless. Many number of trade will not guarantee your success. Even for one trade, pull the quality piece of information technically (from chart) and fundamentally (from surrounding market environment).

Q6: How to use Price Pattern Table ?

A6: Price pattern table shows how five regularities are existing in the market. From left to right, we are having more complex form of regularities (or market) depending on what internal and external factors are correlated with.

Column 1

This is extremely simple market where not so much regulation and not so much information around. Trading this type of pattern is not so complicated even for average people. You would become just successful trader using some simple technical indicators like moving average indicator, MACD, etc.

Column 2 + 3

When market started to correlate with time, we will start to see some sort of cycles in the market. When there is single cycle you would notice but several of the combined cycles can confuse many average people if they are not trained. Buy and sell decision making can be more complicated to the market state in Column 1.

Column 4

Many cycles are mixed and it is difficult spot the presence of one dominating cycle  because there are too many cycles mixed. We need more and more skillful decision making to become successful trader in this type of market.

Column 5

Number of influencing variables in the market increased too many (like too many government regulation, too many diversified players, too many external factors), cycles are no longer dominating market patterns. In this market, we can trace the footage of fractal wave instead of cycles. This is the scientific idea behind the Price Action and Pattern Trading.



Link to our website for Price Action and Pattern Trading Tools:

https://www.mql5.com/en/users/financeengineer/seller#products

https://algotrading-investment.com/

GBPUSD Market Outlook - 5 May 2019

Just first 50 minutes past in Forex market. Market was started with bit of bearish sentiment today. GBPUSD is moderate but with some bearish reaction too. With the formation of butterfly pattern, the first potential continuation zone could become important in predicting next move for GBPUSD.

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Multiple Timeframe Pattern Scanning for Harmonic Pattern Plus and Harmonic Pattern Scenario Planner

Here is simple screenshot showing you how to enable Multiple Timeframe Pattern Scanning in your Harmonic Pattern Plus and Harmonic Pattern Scenario Planner. Just enable Use Multiple Timeframe Pattern Detection = true in your input setting. That is all.

Also there is small “M” button in your chart in case, you want to refresh multiple timeframe pattern scanning manually.



Link to Harmonic Pattern Plus

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475



Link to Harmonic Pattern Scenario Planner

http://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

https://www.mql5.com/en/market/product/6101

https://www.mql5.com/en/market/product/6240

Supply Demand Zone analysis for USDJPY and EURGBP – 4 May 2019

Here are some important supply and demand zone for USDJPY and EURGBP. These supply and demand zone would be worth looking for your trading next week.

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https://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

Supply Demand Zone analysis for EURUSD and GBPUSD - 4 May 2019

Here are some important supply and demand zone for EURUSD and GBPUSD. These supply and demand zone would be worth looking for your trading next week.

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https://www.mql5.com/en/market/product/16851

https://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

Mean Reversion Supply Demand

We have many sophisticated trading system to construct the sound portfolio of your investment and trading.

Mean Reversion Supply Demand is one of those powerful tool you can add in your collection. With the built in Market Profile indicator, the tool provide flexible and accurate control of your entry and risk management especially around the significant trading zone in your chart.

Highly automated feature can help you to readily set your profit target and even more sophisticated analysis in your chart.

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http://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

Mean Reversion Supply Demand

We have many sophisticated trading system to construct the sound portfolio of your investment and trading.

Mean Reversion Supply Demand is one of those powerful tool you can add in your collection. With the built in Market Profile indicator, the tool provide flexible and accurate control of your entry and risk management especially around the significant trading zone in your chart.

Highly automated feature can help you to readily set your profit target and even more sophisticated analysis in your chart.

https://www.mql5.com/en/market/product/16851

https://www.mql5.com/en/market/product/16823

http://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

EURUSD Market Outlook - 3 May 2019

EURUSD made a strong bullish reversal at the demand zone and at the formation of bullish butterfly pattern.

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Using Japanese candlestick patterns with Price Breakout Pattern Scanner

Price Breakout Pattern Scanner combines several trading systems in one product. Properly used, they can yield excellent trading results. One of the trading system built inside Price Breakout Pattern Scanner is Japanese candlestick patterns. Price Breakout Pattern Scanner can detect 52 different Japanese candlestick patterns. They are categorized under five categories including one, two, three, four and five candlestick patterns.

To use Japanese candlestick patterns, you have enable the candlestick pattern from Price Breakout Pattern Scanner. See the attached screenshot for the purpose. Then you can switch on and off the individual category of patterns according to your preferences. For example, you can only use two and three candlestick patterns if you wish.

In addition, you can also receive sound alert, email and push notification when new Japanese candlestick patterns are detected.

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https://algotrading-investment.com/portfolio-item/price-breakout-pattern-scanner/

GBPUSD Market Outlook - 3 May 2019

In long term market outlook, the cypher pattern is still in position for GBPUSD. Right at the moment, GBPUSD will test its first potential continuation zone. As you can see from screenshot, this potential continuation zone was tested over and over for GBPUSD. You can tell how significant this PCZ level is.

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Projecting Significant Channels into Future with EFW Analytics

EFW Analytics is a powerful tool for your trading. EFW analytics contains multiple of features. One of them is project significant channels into future (available from version 10.6). The concept behind this is similar to viewing neighboring Channel feature. The difference is that this feature project the channels into future instead of showing them the past footage. Of course, this is fully automatic feature in just one button click. To project the channels into upper price range, just click “Upper” button. To project the channels into lower price range, just click “Lower” button. Once button is clicked, EFW analytics will show 1 to several important lines for your trading. If you want to fine tune the lines, then you can check their rating information. To do so, just move your mouse over each line. Then you can read rating of each channel in your chart. If you believe that some lines are absolutely important, then make sure that you lock them in your chart for nurture reference. To lock the lines, just click over the lines. That is all. Your trading will be ready in 1 minutes. No rocket science at all. It is just one button click.

Below is the link to the EFW Analytics (Equilibrium Fractal Wave Analytics):

https://algotrading-investment.com/portfolio-item/equilibrium-fractal-wave-analytics/

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EURUSD Market Outlook – 2 May 2019

Be warned that bearish sentiment is growing in the market. EURUSD is testing some important supply zone. This would give us some clue on where the EURUSD trend is going to next.

For your information, we are still offering some special offer. Hence, you can get on the last train of our special offer before we close the offer.

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https://www.mql5.com/en/users/financeengineer/seller#products

Tactical Use of Pattern Completion Interval (PCI)

Our Harmonic Pattern Plus and Harmonic Pattern Scenario Planner exclusively provide the Pattern Completion Interval for your tactical trading.

Sounds complicated but not. Simply, if the price is inside the PCI box, then the pattern will stay alive. If the price move outside the PCI box, then the pattern is invalid. (We brought this concept from prediction interval or confidence interval from multiple regression techniques).

Maybe it is the view you need to see not the technical language. It is the PCI box that you will calculate your entry + your risk management. Inside PCI, your will pick up the good timing for your entry based on your risk management. Everything should be happen inside PCI. Otherwise, your reward/risk does not have too much merit.

Secondly you might need to use some secondary confirmation for final buy and sell decision. Remember the very advantage of manual trading is about combining information. It does not have to be fundamental data for this purpose. In our case, we exclusively uses geometric based tools and we have nearly got rid of all the technical indicator for trading. But you can use some technical indicator like RSI, Bollinger bands and Fibonacci Retracement etc.

Once you are sure about the trading and entry and risk management, then you will lock the pattern for your trading. Just click the lock button in your chart to do so.

Link to Harmonic Pattern Plus

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4475

https://www.mql5.com/en/market/product/4488



Link to Harmonic Pattern Scenario Planner

https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

https://www.mql5.com/en/market/product/6101

https://www.mql5.com/en/market/product/6240

Scan and search future harmonic patterns with Harmonic Pattern Scenario Planner

Harmonic Pattern Scenario Planner is a tool you can scan and search future harmonic patterns in just one button click. It would detect any potential future harmonic patterns in your search range. You can even get the potential take profit and stop loss of the future patterns even before they form. What is even more, you can use all the features and functionality of harmonic pattern plus from your harmonic pattern scenario planner too. Harmonic Pattern Scenario Planner is also compatible with our Harmonic Pattern Order EA.

Have watched this interesting movie called “Next” ? Check out the guy can see the few minutes into the futures. How powerful the 2 minutes vision for future is. Predicting future is very tactical game but it is hard because future keep changing based on the presents. However, it is definitely an interesting game. As a trader, you can gain a lot of advantage over other traders by predicting futures.

http://www.imdb.com/title/tt0435705/

We are only one selling the future predictive harmonic pattern scanner.

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GBPUSD Market Outlook - 1 May 2019

British pound is strong today. Butterfly pattern is still in position for GBPUSD.

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EURUSD Market Outlook-30 April 2019

Another day has passed. British pound and EURO was on high demand in the market. GBPUSD was the strong bull. EURUSD was moderate bull after the formation of AB=CD pattern.

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Automatic Resizing your Stop Loss and Take Profit Level with Harmonic Pattern Plus (Harmonic Pattern Scenario Planner)

Having understood all the concept behind the Pattern Completion Interval, you might observe that sometime price can react outside the pattern completion interval. Sure, there is nothing perfect in the world. As long as you understand the pros and cons of using large stop loss size, it is still fine to control your own stop loss size.

However, we still prefer to express stop loss size in terms of pattern completion interval range for convenience. For example, if the original stop loss size was equal to 1 x pattern completion interval, you can certainly use 1.5 x pattern completion interval or 2 x pattern completion interval.

Another consideration before you are using pattern completion interval, if you can enter the market at the competitive price, then you can feel less guilty when you increase your stop loss size because you are still remaining good rewards/Risk ratio. On the other hands, if you have entered market at not so competitive price, then you might be cautious when you increase your stop loss size.

The same feature applies to Optimal Turning Point Pattern Scanner (Non Repainting and Non Lagging Harmonic Pattern and Elliott Wave pattern scanner.)

Hope this less is helpful for junior traders.

To visit our website, follow the links below:

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

https://www.mql5.com/en/market/product/6240

https://www.mql5.com/en/market/product/6101

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

http://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

GBPUSD Market Outlook - 30 April 2019

In our early post, we have shown that market was overall bullish. Now, some symbols are starting to show some bearish move too. Especially commodity currency are weak. GBPUSD is still in bullish side after the formation of Butterfly pattern.

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https://www.mql5.com/en/users/financeengineer/seller#products

Showing Historical Patterns in Optimal Turning Point Pattern Scanner

In trading, you get your profits as good as your tools. Optimal Turning Point Pattern Scanner is the superb Harmonic Pattern Indicator using the next generation pattern detection algorithm (The first Non Repainting + Non Lagging Harmonic pattern indicator.). To understand and to test your strategy, simply increase bars to scan to some higher number like 5000 or 10,000. Initially bars to scan is set to 250 to save some computation but you can increase as many as you can to just check your strategy. Screenshot shows how to do it.

1. Optimize your Strategy per symbol and per timeframe

As you can see, Harmonic Pattern and Elliott Wave pattern will perform differently per symbol and per timeframe. Hence, check history signals per symbol and per timeframe to optimize your strategy per symbol and per timeframe. While you are studying these patterns with optimal turning point pattern scanner, you will gain more and more knowledge and skills for your trading.

2. Apply many indicators and filters

To improve success rate, make sure that you are studying various indicators and filters together with the historical signal patterns. In my opinion, you will gain practical knowledge within few weeks whereas other harmonic pattern trader takes typically 1 to 3 years to grab knowledge of harmonic pattern trading (and 2 to 4 years for Elliott wave trading). This is great with this non repainting indicator.

3. Set Bars to Scan input = default in live trading to save computation

Another important note is that make the “Bars to Scan” input to 250 after you have finished your studying with historical signal patterns. If you leave Bars to Scan = 10,000, etc, this would be too heavy for your MetaTrader. For your live trading, set Bars to Scan = 250 or as small as possible. Since live trading results and historical signals are the same, you will not get lost anything even if you set Bars to Scan = 250 or other reasonably small number.

4. Important note for best performance

Study with Optimal Turning Point pattern scanner and trade with Optimal turning point pattern scanner only to achieve the best trading performance. It is because we have set different but optimized harmonic pattern ratios from typical harmonic patterns after testing many runs because optimized patterns are performing betters. Some people do not keep this, you can not achieve the best performance.

5. Simple and easy to trade

Beside all this sophisticated technology running before your PC, trading with optimal turning point pattern scanner is easy and simple to trade because of its non repainting features. Just study your charts and trade with your charts.

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