How to setup MT4 part 2

How to Setup MT4 and design own template

Multiple Timeframe Analysis for the Pair GBPJPY

Pair -GBPJPY

Support Level
Major Support level = 139.70
Minor Support level = 145.40

Resistance Levels

Major Resistance Level= 156.80
another strong resistance level = 147.40

Timeframes Use= Weekly, Daily and Hourly


 Weekly Timeframe has been used to spots the Support and Resistance.

 Daily Time that has been used to get possibities of movement -Up or Down but strong Conviction is
UP

 Daily Time Frame Use to Understand the Sell Zone that is below the trendline and buy Zone that is above the Trendline. Trendline is break out and form Higher high and higher low (possiblities) even  Fibonacci Retracement has reached or retrace at level 61.8 (following Picture)

Daily Timeframe made me a decision to look for a buying opportunity.  It has been Retracing and retrace level at 61.8

 I have spotted - it has retraced and break out the trendline.

Conclusion:-
execute - long position
stop loss - 10 pips below the turning point i.e 145.56
Profit Target is 147.50 or fellow the trend and move stop loss until stop out.


Risk Disclaimer
Trading any financial assets can be a challenging and potentially profitable opportunity for investors and Traders. However, before deciding to participate in the Financial Market, you should carefully consider your investment objectives, level of experience, and risk appetite.

Technical Analysis for the Pair EURJPY - Multiple Timeframe Anlysis

Pair - EURJPU

Trend - Uptrend

Support levels

Major Support level = 126.90
Minor Support level =  130.30

Resistance Level
Major Resistance Level = 136.10

Charts
Monthly - To know the Direction/ to know the support levels and Resistance levels

Daily - To find the trend and make decision - Buy or Wait

Hourly - To Execute the positon / Entry point, Exit point

 First Two Charts are montly
then Two Charts are daily
final Chart is 1 hour Char

Conclusion:
once the Trendline break out  and there is bullish momentum then we can take long postion at level 130


Update:

Finally EURJPY has completed the Retracment and break out the Trendline.

Daily Time frame shows that retrace level is 76.4

Same Picture of Daily Time frame. but we ccan see that trend line is break out and moving up to acheive the edge

Conclusion:
Make sure about the proper Stop loss and profit taking methods have been applied.

Technical Analysis for the Pair NZDJPY - By Using Multiple Timeframes

First of all, we need to find out Support and Resistance. Regarding the Pair NZDJPY i have been using weekly and Montly chart to find out the support, Resistance and Trend. In this particular charts i have found that level 75.75 as a support and Resistance levels are 79.80 and 83.20.

if we look at  Daily Timeframe Down Trend is exist

Possibilites
1. If it does break out and form Higher High and Higher low in Daily Timeframe then it takes rally to the level 79.80 further leve 83.20

2. If downtrend continues and Retest Level 75.75 then it will go down to level 68.90

Conclusion
As weekly chart shows that the level 75.75 is Significant Support which might be hard to break. At that level it has been many times bounce backed. It is possible level to turn to up.

Financial Market Terminology

Financial Market Terminology 

1. Spread

2. Ask/Sell Price

3. Bid/Buy Price

 

In the following Picture, Ask/Sell price is 1.5430(4) and Bid/Buy Price is 1.5432(5) the price difference between Buy and Sell is called Spread. Where end of the numbers (4)and (5) are called points in the forex. If price move from 1.5430(4) to 1.5431(6) which is 1 pip and 2 points move

 

In the example below current market price for Share A is £11.50. if you want to buy that particular share then you need to Pay £11.55 instead of £11.50 just because of Spread, the price difference between Market Price and Bid price is called spread.  Similarly if you want to sell then you will get £11.45 instead of £11.50, the price difference between Market Price and Ask price is called Spread.

Types of Order

In the Financial Market, the terms Buy, Sell, Buy Stop, Sell Stop, Buy Limit, Sell Limit are come to use. In this section, These terms will be explained.

Buy/ Buy Stop/ Buy Limit:

Buy price normally assume the Market Price. In the example below, market price is £11.50 (Red Line). If you want to buy the Share A at Market Price you will have to pay £11.50.

If you want to buy Share A when the price will be at £11.80 by hoping the price will go up then you need to place Buy Stop order. Let’s say your market price is at £11.50 and have placed Buy Stop Order at £11.80 by hoping the price will rally. If it does not reach £11.80 then your order will not execute. Only your order will execute once it reaches the level £11.80.

If you want to buy Share A when the price will be at £11.00 by hoping the price will retrace and go up then you need to place Buy Limit order. Let’s say you have place Order at £11.50 (Market Price) hoping the price will retrace the level £11.00 and would like to buy at that price, is called Buy Limit Order. If it does not reach level £11.00 then your order will not execute. Only your order will execute once it reaches the level £11.00.

Sell/ Sell Stop/ Sell Limit

Sell price normally assume the Market Price. In the example below, market price is £11.50 (Red Line). If you want to sell the Share A at Market Price you will get £11.50.

If you want to Sell Share A when the price will be at £11.20 by hoping the price will down (or to protect further losses) then you need to place Sell Stop order. Let’s say your market price is at £11.50 and have placed Sell Stop Order at £11.20 by hoping the price will down (or to avoid more losses). If it does not reach £11.20 then your order will not execute. Only your order will execute once it reaches the level £11.20. 

If you want to Sell Share A when the price will be at £12.00 by hoping the price will retrace and go down then you need to place Sell Limit order. Let’s say you have place Order at £11.50 (Market Price) hoping the price will retrace the level £12.00 and you would like to sell at that price, is called Sell Limit Order. If it does not reach level £12.00 then your order will not execute. Only your order will execute once it reaches the level £12.00.

 In the Financial Market, Buy Stop order, Buy Limit Order, Sell Stop Order, Sell Limit Order are used for opportunity to get the best price and protect the losses. These Orders are automated once you filled which can execute without presence in the market.