SR WAVES

MARKET FORECAST

By Ka Keung Choi

How to Trade the

S/R Wave levels and Zones

SR Wave Zones Trading Technique.

These zones are drawn based on historical wave patterns created by previous candles.

It's my very unique style of charting.

Wave Zones Trading Ideology:

Short Term Traders:

Trade the break out of zones with a 1 hour to 4 hour close candle to confirm that the direction of price is moving.

Long Term Traders:

Trade the direction according to the 50 days SMA (Simple Moving Average) in 4 hour chart.

One can buy more once every correction/pull-back price touches the resist zone or drops to the support zone. Only add more trades if the price climbs back up and above the zone with a close 1 hour to 4 hour candle.

Stop loss is set below the previous zones.

Trading Examples:

GBP/USD - Sept. 2016

This pair is going through a correction pullback after it has climbed up three weeks ago. Expect the price to retreat back to the support zone, so trade according to the Triangle min. zones for price rejection/s.

ANY QUESTIONS?

Email me at:

trade.market.choice@gmail.com

Most importantly, know my trading concept, treat it as a road map and the price/index as the buses.

SMA or MA -

Direction Compass

S/R Wave Zones -

These are the Bus Garages

Moving Candles -

The Buses

White Colour S/R Wave Levels -

The major destinations of the route from A to B of the week or month.

Red S/R Wave levels -

Road block, bus (trade) could reverse here.

Light Blue S/R Wave levels -

Are the bus stops one can get on and get off the trade.

Dark Blue S/R Wave levels -

These are the half way petrol station that act as half way stop between destination A and B towards the next Zone, one can get on and get off the trade here too.

Orange and Green S/R Wave levels -

These are the traffic lights as trade often stops here and could change direction for a while.

Orange colour levels- higher possibility for down turn.

Green colour levels- higher possibility for up turn.

Engulfing Candles -

Majority travellers

The higher the time frame candle, the higher the possibilities.

The shorter the time frame, the higher the risk. However, the higher the risk, the more possible profits.

To get on the buses, if not sure, wait for a majority of travellers to get on the bus first to confirm the sense of direction and then get on to the next new bus. Only get on the bus when the bus reaches the bus stops, petrol stations or bus garages. DO NOT jump on the bus while the bus is in the middle of the highway!!

Trading Example:

12 June 2016

GBP/USD

4 hour chart show how the lines and zones was forecast

and set for trading for the following weeks.

Trading Time Frame with SR Wave Zones

S/R Wave levels Forecast for 1 Hour Chart (1 hour chart for daily entries of buys and sells)

Rules:

All S/R Wave levels have power to reverse the trade but, once broken with a closing candle, Support will become Resist; Resist will become Support.
Only trade when levels are touching for the first time with a 15 min. engulfing candle to confirm the reverse.
Do Not chase the price, let the price come to the S/R Wave Levels before entering.

S/R Wave Zones Forecast for 4 Hour Chart (4 hour chart for weekly entries of buys and sells)