Fwtrader – Voodoo Lines (Oct 2013)

Fwtrader – Voodoo Lines (Oct 2013)

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Are Different From Other Indicators

Trend lines, moving averages, pivots and many other indicators are often used to find possible support or resistance. All of them can be useful, but none of them do what Voodoo Lines can do. While levels for other indicators are always changing, Voodoo Lines stay in the same place. Not for days or weeks like pivots but usually for many years, sometimes decades. Because Voodoo Lines uncover important levels long before price reaches them, trading scenarios can be anticipated days, weeks, or even months ahead of time.

MACD showed obvious divergence as EURUSD approached the Fireline. This is the most significant level of support/resistance in Voodoo Lines and the setup warned of the reversal which came right at that level.

I use Voodoo Lines for my trading and found it the best indicator I have. If there was only one indicator to use with price this would be it. With price direction I can see where the stock is going. I watch as the price approaches a new Voodoo Linefor a possible exit. I also like to enter trades at a Voodoo Line and if price reverses I make a quick exit.