No Indicators - No Worries System

Discussion in 'Forex' started by TopPips, Aug 11, 2010.

  1. TopPips


    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.


    that's it?
  3. LEAPup


    Let's see what happens.

    Btw, welcome to ET.:)
  4. nLepwa


    Who says a trend line isn't an indicator?
  5. InAndOut


    Good, Let's see some action performed:)
  6. TopPips

    TopPips 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.


    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


    Let me know what you guys think?
  7. babe714


    looks good , thanks for sharing
  8. TopPips


    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


    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


    Entries will be based on simple price action and candle patterns.
  9. xburbx


    nice thread. where are you getting your s/r lines from?
  10. Any chance you could make the charts smaller to eliminate the need to side-scroll?
    #10     Aug 17, 2010