Uptrend ABCD

Pretrade Checklist Trade Plan

Uptrend
(Candles need to be above the Up Trendline)
Date Currency Fundamental Day Yes No
Date Currency Timeframe
Uptrend
Check 1. Candlestick Formations:
1. Find and mark the up A-B Boundary.
2. Spread the Fibonacci tool from the Up A to the Up B . Engulfing Bullish Morning Star Tweezer Bottoms
3. Look at the Fibonacci Retracement and Extension levels.
4. Draw the 45' Counter Upward Trendline ABOVE the Retracement Candles.
5. Find & mark Past Resistance to become Future Support in the A-B Boundary. 2. Uptrend Price
5.
6. Find 4 levels of Past Resistance ABOVE B for your exit.
Sell LIMIT Risk vs. Reward
7. Determine and draw your Limit at the appropriate extension on your chart. Exit

8. Determine and draw your Stop BETWEEN the .86 and the A on your chart.
ENTRY BUY vs.
9. Wait for a Bullish Candlestick to form.
B D Must be 1:1 or Greater
10. Look at the Velocity Fuel Gauge.
Exit Sell STOP
11. Complete your Trade Plan.

C
3. 4.
A Find: Four Past Levels of Resistance below the "B" Find: 1)Projected "D" Ext. Price:
High for your Exit 2)Fibonacci # for C & D
Grade Your Entry Decision To Trade Check R4
B D

1. Are the candles above the automated Up Trendline? 60% R3

R2
2. Did the Velocity Fuel Gauge form a U-turn near the bottom red line? 10% R1 C
A
3. Did the Market break the counter Upward Trendline? 5%
4. Did the Market U-turn at past resistance? 5% 8. Profit/Loss
5. Did the Market U-turn at a Fibonacci Retracement Number? 5%
6. Did a Bullish Candlestick form? 10% 6. Sell Price

Start Time: End Time:

TOTAL % PROBABILITY OF A SUCCESSFUL TRADE Buy Price

“Grade Your Trade” Pips +/-

100% Wishful thinking. This doesn’t exist!

:-)

90%+ Excellent Trade

$ per Pip $
7.
80%+ Great Potential Trade Total
$
Computer Ticket Amount
70%+ Good Trade
60%+ Fair Trade - Look at other currencies # Lots
#
50% - Indicates A Potential Sideways Market Total
In a sideways market SELL Resistance and BUY Support P/L $
Notes:
Exit Target Strategy
1. Find the Fibonacci Extension level that is near a past level of Resistance.
2. Place an exit order 10 pips below the level of Past Resistance that is near the
appropriate Fibonacci Extension Number.
Copyright © 2008 Market Traders Institute, Inc. | JULY 2008