Using the Magic Bands Trading Strategy on Daily Charts - best forex trading advice

Using the Magic Bands Trading Strategy on Daily Charts ~ best forex trading advice

The Magic Bands trading strategy can be applied to daily or weekly charts as well as scalping charts.

It needs only a minor change which is not completely necessary. There is another indicator called the ribbon which adds a bit of colour to the chart as well as denoting momentum. The ribbon expands as momentum builds and that may be useful for some traders as they inspect their charts to look for entries.

The chart may also be enhanced by the Gator oscillator which shows the momentum, that is optional and is not necessary to use this trading system effectively.

Of course, on a longer chart a person will want to include a trailing stop as the position may last for several days or weeks as shown in the USDJPY chart below. You can see that the long entry lasted for several weeks.

Here is a chart of the Dax Index and on it you can see some great entries as that index has been climbing steadily for several months until this past summer. Once again this simple trading strategy has been able to bring significant profits with a minimum of maintenance to the portfolio.

There are many Forex pairs and Stocks and Indexes that have long trends and are quite well suited to this trading strategy. It requires only a few minutes a day to review a sizable portfolio to do what ever maintenance and entries are required.

To locate instruments that may be suitable for this type of system a person needs only do a scan for trending stocks or currency pairs and there are many to choose from. Probably those with some volatility would appeal to many investors.

The indicator settings  can be found on this page Magic Bands Scalp Trading Strategy along with some other information.

One more chart that I have here for you to glance at is that of Sweet Light Crude, you can easily see that a trend following  strategy would have reaped excellent profits in the past eighteen months.

Be sure to use a trailing stop with this system as the markets are completely unpredictable.

Good Trading..!

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CCI Trading Strategy as At August 13 (updated) - forex trading account singapore

CCI Trading Strategy as At August 13 (updated) ~ forex trading account singapore

Using CCI For Some Simple Entries On Today’s Charts.

CCI Divergence
Here is a one hour chart of EURUSD showing some Bullish Divergence

and the Daily USDCAD showing Bearish Divergence

Now we can apply the CCI 200 Trend Line break:

You can see that the entries are quite clear cut and also accurate.

I will look for a couple examples of CCI Slingshot entries from today’s charts.

Here is CADJPY daily. You can see the slingshot here, the CCI 14 has risen to the zero line while the CCI 6 has climbed to the 100 level.

On the GBPCAD Daily chart is a great example of the CCI Slingshot. If you check the price bars you will see that this is a great continuation entry that yielded quite a few pips.

CCI is a great scalping tool, you can use it on the fast time frames as well as the slower time frames. It takes a few hours of screen time to get your eyes used to picking out the entries.

CCI Divergence is quite useful and often very easy to see on a chart, particularly if you are used to drawing trend lines.

There is a few examples from the charts this morning, I know there are many more available for some profitable trade entries.
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CCI Scalping Revisiting the CCI SlingShot - forex trading institute in hyderabad

CCI Scalping Revisiting the CCI SlingShot ~ forex trading institute in hyderabad

A few months ago I mentioned The CCI Slingshot and there seems to be quite an interest in this trading strategy.

This formation is quite common on several time frames and can be made to be profitable with adherence to some rules.

This is a trend following trade and is used for a continuation entry.

The Tools:

Important is a way of determining trend, I use a 34 EMA, there may be better methods, that is the one that I have been accustomed to.

On the chart we need a CCI14 overlayed with CCI6.

The Pattern:

We look for the CCI 6 to pull back to at least the 100 line while the CCI14 pulls up to the zero line or a tiny bit above it.
CCI6 wll form a very sharp ‘V’, and entry will be as the CCI6 crosses the zero line.

It is essential that a tight stop loss be used for all entries.

Other:

There are varying opinions as to the effectiveness and profitability of the CCI Slingshot. Some traders feel it to be easy to use and most profitable and others feel it to be a loser. Only experience working with it will determine your success.

In a long trend there will be perhaps 4 or 5 slingshot entries, it is best to be strict regarding the pattern as some similar looking formations will result in a loss.

Here are a couple examples to illustrate the trade

Good Trading!

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CCI 200 TrendlineBreak Trading Strategy as at August 8 (updated) - forex trading new account

CCI 200 TrendlineBreak Trading Strategy as at August 8 (updated) ~ forex trading new account

Opportunities to use the CCI 200 Trendline Break are on every currency pair whether using a Renko trading strategy or the regular bars.

Here are a couple articles giving additional insights as to how to use the CCI Indicator.


A Simple CCI Strategy for Scalpers - DailyFX
 Wed, 25 Jun 2014 19:02:21 GMT
A Simple CCI Strategy for ScalpersDailyFXOne of the hardest steps a trader must take before scalping their favorite Forex pair is creating a strategy. While strategies can range from the complex to the mundane, creating a plan for trading the market ...

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Time Scalping Entries With CCI - DailyFX
 Wed, 07 May 2014 19:06:13 GMT
Time Scalping Entries With CCIDailyFXThis is especially true for scalpers looking to take advantage of quick changes in price and momentum in the market. Normally an oscillator can be used to simplify this process and give traders a clear execution s ...

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CCI Divergences to Have a Look At January 4 (updated) - forex trading classes in india

CCI Divergences to Have a Look At January 4 (updated) ~ forex trading classes in india

Here are some current regular divergences you may be able to take advantage of.

I like to use the CCI regular divergences to find trend reversals, they work out much of the time.

Probably you will want to confirm by using other indicators or approaches.

Here are four charts that I located with regular divergences at this time.

There may be some opportunities with these, and certainly more CCI Divergences will appear as the day passes.

Good Trading!

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CCI Divergence Trading Strategy As At August 28 (updated) - forex trading institute in pune

CCI Divergence Trading Strategy As At August 28 (updated) ~ forex trading institute in pune

Using CCI Divergence as a trading strategy can be quite effective, once the trend change is confirmed by price action.

I have assembled a couple charts to show current divergences which may be useful signals in coming days.

These are just a few of many that are available to observe on many time frames. I choose the higher time frames as those are the ones that I trade most frequently.

Here are some articles that describe CCI divergence and give some examples. Do note that some of these articles are a few years old.

CCI Divergence 5mn @ Forex Factory
http://www.forexfactory.com/ Wed, 28 Jan 2009 11:23:29 -0800
Bonjour à tous. Id like to share another simple method with you and based on CCI divergence. CCI 10 (Typical price HLC/3) TF 5mn. The CCI divergence must be beyond of 100/-100. You sell the divergence when the closed ...

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CCI Divergence indicator for Thinkorswim TOS - Patternsmart
http://www.patternsmart.com/cart/ Tue, 23 Jun 2015 13:52:33 -0700
Commodity Channel Index (CCI) is an oscillator which can help traders to identify over-sold and over-bought level. VIP price is: $69. CCI Divergence indicator gives possible reversal signals when there are discrepancies between CCI and ...

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Urban Forex CCI Divergence Breakout Strategy Testing Setup
http://www.tradingheroes.com/ Thu, 13 Nov 2014 19:19:01 -0800
How to backtest and forward test the CCI Divergence Breakout Strategy. It will give you the complete testing plan and software tutorials.

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CCI Divergence Breakout Strategy for Binary Options Trading
http://www.binaryoptionsthatsuck.com/ Tue, 01 Jul 2014 03:00:01 -0700
Well… here comes the tricky part, we have to spot divergence between price movement and CCI, if you are not familiar with this concept dont drop down your weapons, BOTS is giving a helping hand just click here and find ...

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Here is a video showing one use of CCI Divergence

And here are a couple more posts on Divergence

boutique trading strategies: Can We use CCI Divergences to ...

boutique trading strategies: Divergent Opportunities for ...

boutique trading strategies: Renko Trading Strategies (1)

Enjoy!

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5 Simple CCI Scalping Trading Strategies 5 minute chart - online trading academy forex download

5 Simple CCI Scalping Trading Strategies 5 minute chart ~ online trading academy forex download

CCI Scalping is an excellent trading strategy, especially if you have some time to watch some charts for a while when trading Forex. 

I have collected 5 strategies with details below and when you review each one you will see that these are simple visual strategies with indicators that you may already have or you can easily find them on the net.

Each of these can be modified a bit to suit your taste, they are easily modified or enhanced.

The most important aspect of these systems is that the chart talks to you loudly so that you can see the opportunities to pick up some good pips



CCI Flash Scalping - Learn Forex Trading

http://www.learn-forextrading.org/ Tue, 02 Dec 2014 09:37:19 -0800
CCI flash scalping is a forex tradind system trend momentum very fast. A nice little 5-minute system – ideal for riding London morning session trends.

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Forex Trading: Easy Scalping at M5 on Any Chart | Make ...

http://dollarzonline.com/ Thu, 08 Jan 2015 01:00:26 -0800
Indicators : (1) Moving Average (MA): period 14 (2) Stochastic Oscillator: Kperiod 14, Slowing 7, Dperiod 3, level 25,50,75 (3) Commodity Channel Index (CCI): period 14, level +100,0,-100 TimeFrame: M5 or higher (scalping ...

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MQLPRO stoc/cci/VB intraday scalping system - Forex TSD

http://www.forex-tsd.com/ Sat, 02 Aug 2008 00:46:46 -0700
Hi Folks This system if followed can work for scalping It should make a good 10 pips a day .A good trader only needs to make 10 pips daily @2 lots /$20.

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Intraday Scalping Using EMA & CCI - BabyPips.com

http://forums.babypips.com/ Sat, 27 Apr 2013 01:36:04 -0700
Hi Friends, I am effectively using EMA & CCI for scalping for the past 1 Month.The Results are encouraging. Entry made in 5 Mins chart Using 288 &a.

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double cci and Rsioma - scalping strategy ~ ozo forex trading

http://ozofx.blogspot.com/ Tue, 24 Dec 2013 14:30:00 -0800
The best pairs to trade using this scalping strategy: EUR/USD, Aud/USD, GBP/USD. Time frame:1M and 5M. Spread max:0,00025. Timeframe : M1*M5. Indicators : 2MA crossover , Heiken ashi smothed , Rsioma , Double cci woody. Entry to ...

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Another Simple CCI Scalping Strategy - forex trading classes in toronto

Another Simple CCI Scalping Strategy ~ forex trading classes in toronto

CCI makes an excellent scalping tool, especially if you can be patient enough to wait until a divergence shows up.

To make this a little more reliable you can add a RSI indicator to the chart and check for divergences with it also.

In this example we can use CC!7 and RSI7 and that is about all we need to locate Regular Divergences.

Keep in mind that Divergences do not always work, Stop Loss is essential.

For this type of trading I use a 15 minute chart.

Here are three examples that you can have a look at and then adapt your trading style to suit.

Again, a Stop Loss is necessary. and definitely do not ‘Bet the Farm’ using this type of method.

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DAY TRADING FOREX WITH CCI INDICATOR - live forex trading advice

DAY TRADING FOREX WITH CCI INDICATOR ~ live forex trading advice

LONG TRADING SETUP

1. 14-period CCI moves above 100
2. At least one bar closes down (retracement)
3. Enter one tick above bull trend bar

If CCI falls below -100 at any point, the trading setup is void.

SHORT TRADING SETUP

1. 14-period CCI moves below -100
2. At least one bar closes up (retracement)
3. Enter one tick below bear trend bar

If CCI rises above 100 at any point, the trading setup is void.

WINNING TRADE – SHORT CCI DAY TRADE

This is a 30-minute chart of 6E futures contract.

1. CCI fell below -100 line and set the stage for short trades.
2. This bar closed up as the first sign of retracement. We went on high alert for a bear trend bar as a signal bar.
3. This small bar could have been our trigger but price did not go below it to trigger our sell stop order. Instead, we went short at bearish inside bar (red arrow).

LOSING TRADE – LONG CCI DAY TRADE

This trade actually worked, if not for the outside bar that whipsawed us out of our position.

1. CCI went above 100.
2. Prices retraced down for two bars before giving us a bull trend bar for entry. However, right after we entered the long trade, an outside bar stopped us out by one tick. (As always, we placed our stop-loss a tick below the signal bar.)
3. Long trading setups that allow us to enter below the high of the CCI break-out bar tend to work better. The reverse is true for short trades.

CONCLUSION – DAY TRADING WITH CCI

This simple trading strategy uses CCI to find momentum before we trade along with it. Waiting forretracement before entering the trade works well to avoid whipsaws.

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