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Trading Forex with Danielcode support and resistance

Mon, Sep 22 2008, 14:10 GMT
by The Trader's Journal Collaborators

The Trader's Journal

This article is taken from the Trader's Journal magazine (September 2008 issue)

The author, John Needham, is a Sydney Lawyer and Financial Consultant. He publishes The Danielcode Report and writes occasionally on other markets. He lives with his family in Australia and New Zealand.

• John Needham continues to explain how the Danielcode provides early notice of support and resistance levels. All forms of analysis work some of the time but none work all of the time so traders are always in search of the “one more thing” that will add reliability and precision to their entries. This analysis adds a level of certainty that is missing form traditional forms of market analysis

Traders use all sorts of tools to trade the Forex markets. Some use patterns, some studies and indicators and some proprietary programs. All of these methods work some of the time but none work all of the time so traders are always in search of the “one more thing” that will add reliability and precision to their entries. For 15 years, I wondered why markets turned where they did. I knew about Fibonacci numbers and other range extension techniques and retracements, of course. But nothing I could find in any of my searches gave me certainty or precision and so I continued to search until I found one more thing. The Danielcode is that “one more thing.” To the best of my knowledge, it is the only totally new form of market analysis in a generation. It works on all markets in all timeframes, which is why I say that ‘markets are ruled by the Danielcode.’

• Read the whole article

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Other article in this issue:

• Using trailing stops in a trading System

Published on  Mon, Sep 22 2008, 14:17 GMT