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With the FXMoneymap Software you can easily see when the currency pair should be
bought and when it should be sold.
No one knows where the market is going, however many traders try to predict
where the market price will go up to or go down to.
Using Moving averages based on a single timeframe charts may not be reliable.
Analysing simple currency movement charts may show a moving average as an acting support or resistance, sometimes it holds (see example 1) and sometimes the price will crash straight through (see example 2).
|Example 1 - Moving Average (MA) acting as a Resistance|
Example 2 - Moving Average (MA) acting as a Support
If MA's don't hold, what can should you rely on?
So if you were relying on the price to hold at the support level shown in example 2 your trade would turn negative. The reason why the price crashed through is because you are looking at a 1 min and there maybe other Supports that are being adhered to in the 5, 15 or 60 min charts. The FXMoneyMap re-presents the traditional forex charts in a unique Grid display format . FXMoneymap does this by slicing the last time slice from multiple time frame chart for that currency pair, for example from the
The Criteria is a 4 Column Support with at least 1x 60 Min MA Green Box (L1 or L2) if not 2x Boxes (L1 & L2), close to a 20 point Gap from between the point at which the price came from and is going from (difference between entry and exit) and a set 10 pip stop loss and 10 pip take profit. See examples below.
1 min chart - it takes the last 1 min candle data
5 min chart - it takes the last 5 min candle data
15 min chart - it takes the last 15 min candle data
60 min chart - it takes the last 60 min candle data
And it concatenates the time slices with the last candle data (moving averages,
price, and Fibonacci band overlays) from each time frame and generates a Grid.
Plotting the Moving averages into one Grid immediately starts to make visible “hidden clusters” of support or resistance levels that exist across 4 time frames and because these Moving averages exist across multiple timeframes the market price is therefore more likely to respect these levels.
L1 to L7 Moving Averages (MAs) Displayed on the FXMM Charts as:
|L1 MA Support/Resistance||L2 MA Support/Resistance|
|L3 MA Support/Resistance||L4 MA Support/Resistance|
|L5 MA Support/Resistance||L6 MA Support/Resistance|
|L7 MA Support/Resistance|
L1 to L7 Moving Averages (MAs) Displayed on the FXMM Grid as:
|L1-L2 MA Green Support Box||L3-L7 MA Black Resistance Figure|
|L1-L2 MA Red Resistance Box||L3-L7 MA Black Resistance Figure|
|L1-L2 MA Not Support/Resistance|
FXMoneyMap is not a robot or Expert Advisor. Instead, the software allows Traders to analyse the market in a different format and it just shows potential gaps in the market where the price is likely to go. Where many Traders go wrong is that they specify their buy and sell levels based on Moving averages, pivot points or fib levels from a single time frame chart. The FXMoneyMap Grid corrects this as the levels are based on multiple time frame charts and therefore there is a greater chance that these levels are going to be held.
Using The FXMoneyMap Software
FXMoneyMap is not a robot or Expert Advisor. Instead, the software allows Traders to analyse the market in a different format and it just shows potential gaps in the market where the price is likely to go. Where many Traders go wrong is that they specifiy their buy and sell levels based on Moving averages, pivot points or fib levels from a single time frame chart. The FXMoneyMap Grid corrects this as the levels are based on multiple time frame charts and therefore there is a greater chance that these levels are going to be held.
Buy & Sell Grids
The FXMonyeMap Grid shows 4 time frames (also referred to as time lanes), If the price is moving up the Grid should show clear time lanes without any strong (L1-L2) or weaker (L3-L7 ) moving averages in the column above the Orange Price Line (see label 8)..
Figure 1 - FXMM Buy Grid Explained
Figure 2 - Chart for 1 min Lane
The Grid in Figure 1 is indicating
1. A Buy (Long Position)
2. An Entry Point at 1.3956
3. An Exit Point at 1.3976
4. Four clear time lanes (on 1,5,15 & 60 Min charts)
5. Target of 20 pips for this trade
6. Major Support under 1.3956 (Price line)
7. Resistance level at 1.3976
The example above is of a typical Buy Position on EUR/USD. As seen in Figure 2,
The Market is trending and Euro has a Long price momentum (going Up). This is
clear from the chart but where is the best entry point?...
This is where the Grid comes in. As shown in Figure 1, The Grid is showing you that you should be buying EUR/USD for several simple reasons.
If your trading strategy is concentrating on locking in small profits to attain 10-20 pips then you will need to focus more on the the shorter time frame charts like the 1 and 5 min chart with more emphasis on the 1 min chart. You need to find an entry near 1min L1 (Green Moving Average), you can see this in Figure 2 and you can also see this in Figure 1 where the price line is near the 1min L1 MA Green Box.
Based on this criteria, The Grid in Figure 1 is then showing an entry at 1.3956. The only thing that could possibly stop the price from continuing to move higher is for something to get in its way like a Moving average or a fib level, which would act as a resistance. The Grid is clearly showing that the next level of resistance across 4 time lanes (stronger if in all 4 time lanes) is at 1.3976, meaning that there is a clear 20 pip Gap if you bought EUR/USD at 1.3956 and sold at 1.3976.
What is the risk for this trade to turn negative?
The answer is very little, due to a number of factors. The price momentum is in an upward direction. The kind of Setup seen in Figure 1 shows no obstacle for the price moving upwards as there’s nothing in the way of moving averages or fib points (across multiple time frames) and there is masses of support beneath the price which can only mean one thing... It’s easier for the price to go up and more difficult for it to come down.
Figure 3 - FXMM Sell Grid showing precise Entries and Exits
As well as Buy Positions on a Buy Grid setup, FXMoneymap shows Sell Grids illustrated in Figure 3.
In this type of Grid setup, all the L1 and L2 MA’s (Red Boxes) for all the time frames (1, 5, 15 and 60min) are v red because they are resistances and all other MAs (L2-L7) and Fib points are above the price line. This means that the price will find it difficult to move upward and more likely to go down.
As soon as your price is close to your 1 min L1 MA Box (1.3921 - shown in Figure 2 ) you should be selling EUR/USD.
Again, the only thing that can stop EUR/USD from going down further is Any MA or Fibs across any times frames (more on the higher time frames) acting as supports.
The only supports visible on this Grid are down at 1.3895 and there is a level of supports around this level across all the time frames. This means tha there’s a 26 pip gap down to 1.3895. Based on this information you would Sell EUR/USD @ 1.3921 and Buy back at 1.3895 netting you a total of 26 pips.
Thousands of traders have traded using the FXMoneyMap with the FXMoneyMap under the careful guidance of the online FXMM tradering Mentors available as moderators in the FXMoneyMap Live (FXMMLive) Trade room. Over the Years, FXMM Moderators have not only looked for gaps in the market but have further perfected trading using the FXMoneyMap by identifying re-occurring trading patterns when identified will make you between 10-20 pips near enough every time.
The identified Trading Patterns are based on the alignment and formation of the L1 and L2 MA Boxes visible across the 4 time lanes and other MAs and/or Fib Levels and relies on where the market price reaches.
Identified Trading Patterns
FXMM Trading Pattern #1 - Bounce Trade - Click Here
FXMM Trading Pattern #2 - Vanilla Trade - Click Here
FXMM Trading Pattern #3 - Blue to White (AKA B2W) Trade - Click Here
FXMM Trading Pattern #4 - 60x60 Trade - Click Here
Learn these patterns, stick to their strict Criteria and there’s no doubt, you will make money!!
These Trading Patterns are traded everyday by the FXMM Traders in the FXMMLive Online Trading Room. All of these trading patterns are easy to learn, and are small duration trades (lasting typically upto 30 mins and normally you will seek to attain 10-20pip targets depending on when you enter the Trade. Some trading patterns are almost guaranteed to make you pips (like the FXMM Trading Pattern #1 ... The Bounce Trade), There is a reported 83.6% success rate on all Bounce Trade trading patterns.
See Our Traders latest Trading performance by looking at the statistics over the past 2 months London Open and New York (Up to 3 hours a day) Open, trading simple FXMM Patterns using The FXMoneyMap Software.
See Official Trading Statement | Trades Log