TECHNICAL ANALYSIS CENTER (DEC 15, 2017 (19:40 PM) EST

Technical Analysis 1Technical Analysis 2

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API Weekly Crude Oil Stock

Capture

Possible Effect: Bearish for Crude Oil

The American Petroleum Institute reports inventory levels of US crude oil, gasoline and distillates stocks. The figure shows how much oil and product is available in storage.The indicator gives an overview of US petroleum demand.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

Source: Forex Economic Calendar

SIMPLE 20 PIPS FOREX SCALPING STRATEGY

This is a simple 20 pips forex scalping strategy with a linear weighted moving average & a simple moving average. This strategy could be really useful for new traders in a trending market.

Strategy is simple, 1st one is 144 period linear weighted moving average & 2nd one is 5 period smoothed simple moving average.

Whenever, 2nd smoothed moving average cross over 1st linear weighted moving average this will trigger a long or short trading decision.

How to Setup Chart

Indicators required:

  • linear weighted moving average applied to close, period 144
  • smoothed moving average applied to close, period 5

Time frames: 5 minute charts

Trading Sessions: UK and US

Currency Pairs: EURSUD, GBPUSD, USDJPY, AUDUSD

20-Pips-Forex-Scalping-System-With-Linear-Weighted-Moving-Average

Buying Rules

Whenever 2nd smoothed moving average will crosses above 1st linear weighted moving average this will trigger a buy trading decision:

  1. Place a long order when 5 period smoothed moving average crosses the 144 period linear weighted moving average to the upside.
  2. Set stop loss below the most recent swing low point or 15 pips, whichever comes first.
  3. Take profit target should be around 20 pips.

Selling Rules

Whenever 2nd smoothed moving average will crosses below 1st linear weighted moving average this will trigger a buy trading decision:

  1. Place a long order when 5 period smoothed moving average crosses the 144 period linear weighted moving average to the downside.
  2. Set stop loss above the most recent swing high point or 15 pips, whichever comes first.
  3. Take profit target should be around 20 pips.

Ivey PMI

Forex Calendar

Possible Effect: Bullish on CAD

The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada. A reading above 50 indicates expansion; a reading below 50 indicates contraction. The index is a joint project of the Purchasing Management Association of Canada and the Richard Ivey School of Business. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

Source: Forex Economic Calendar

ADP Nonfarm Employment Change

Forex Calendar

Possible Effect: Bullish for USD

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

Source: Forex Economic Calendar