By Laurentiu Damir
Day buying and selling currency with rate Patterns
- Forex rate motion Day buying and selling System
- Make one thousand pips per thirty days or more
- Timeframes used - 30minutes-4hours
Components
- Price motion Trends
- Price Patterns
- Support and Resistance Levels
Summary
- The publication includes a robust fee motion day buying and selling process that specializes in very robust styles that expense makes.These styles are illustrated with nice element contained in the book,but extra importantly,the common sense in the back of each development is defined in a fashion that the dealer will study precisely what's occurring with the dealers and sellers,which of them are improved at that time.Knowing this,the dealer can then make the simplest buying and selling decions
- The process seems to be on the greater photograph to discover the path during which to trade,then it makes use of the half-hour chart to identify rate styles and day exchange them with excellent success.It does not use technical indicator of any kind.It additionally has rather well outlined entry,stop loss and go out ideas that allows the dealer to make the utmost out of each trade
- Learning and employing this foreign money day buying and selling approach is all you should do to earn a living consistently.You can learn the pattern and in the event you require additional info be at liberty to touch me at damirlaurentiu@yahoo.com
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Additional resources for Day Trading Forex with Price Patterns - Forex Trading System
Example text
That is indeed what happened in the chart above and it happened 4 times in a row. After this, at the very top you can see that instead of a correction small move price made a huge move down surpassing the start of the last impulsive move up. This makes this move down an impulsive move as well, it is now the most recent big move; it has gone below the start of the last move up. This means the direction of price has changed, we will at this point only look to sell if a price pattern occurs on smaller timeframe.
When I say break I mean for you to zoom out the 30 minutes chart and wait for a 30 minutes candle to close outside, below the flag pattern. After this happens, you zoom out the 30 minutes chart and wait for the price to go back up to the red lower trend line and retest it or get close to it. This line is now a resistance line and often after a pattern brakes, price comes back shortly to retest it like in the chart above. We had a break of the flag to the downside; price rose back up to retest the lower trend line and then continued its way down resuming the trend.
When you connect the higher lows and the lower highs, you obtain two trend lines that converge. Let us see an example: In this symmetrical triangle, we have two lower highs and three higher lows. The impulsive move on the 4h chart was pointing up; price makes a continuation pattern on the smaller timeframe and then resumes the prior move. As you can see, it is quite similar in shape with the pennant pattern discussed earlier but this symmetrical triangle takes more time to form, has to have lower highs and higher lows, and does not have to be preceded by a sharp move like the pennant pattern.