By Laurentiu Damir
50 Pips an afternoon foreign money Strategy
Start making constant earnings within the foreign money market.
This is a really transparent and easy to stick with foreign currency trading technique to get you all started attaining constant gains each day buying and selling the foreign money industry. it'll make you 50 pips in keeping with day or extra on a daily basis. it really is excellent for newbie investors however it will supply loads of support to more matured investors that experience now not stumbled on a transparent technique to make earnings consistenly.
Support and Resistance
Time body - four hours chart
It is simple to appreciate and to install practice.
It has rather well outlined access, cease loss and go out degrees.
Apart from the tactic, this booklet additionally features a very worthy consultant that teaches you ways to build a ecocnomic foreign currency trading method for your self and the way to prevent buying and selling and funds administration mistakes.
How to construct an excellent buying and selling System
Are you new to foreign currency trading or simply began to exchange on a stay account yet with no longer a lot good fortune ?
You desire a strong foreign currency trading method in keeping with sound ideas of the foreign money industry, that has transparent buying and selling and cash administration rules.
Do you could have a foreign currency trading method and you have got been buying and selling with it for a time period yet nonetheless you do not have the luck you was hoping for ?
This can simply suggest that your buying and selling procedure doesn't take into consideration the fundamental buying and selling principles and ideas that any strong foreign currency trading approach incorporates.
This e-book teaches you ways to build your personal robust foreign currency trading procedure, what are an important foreign currency trading instruments you must comprise in it, what to not contain on your foreign currency trading method, the right way to follow reliable cash administration ideas and equaly vital, how you can stay away from making buying and selling errors that might expense you for those who begin to alternate together with your newly built foreign money method.
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Extra resources for 50 Pips A Day Forex Strategy
After you identify these meaningful horizontal levels, you will have no problem trading a retest of them, exactly like in the method above with the diagonal support and resistance areas. Let us see an example: As you can see, things are clear in this trade example. The moving average is sloping up and the pair is trading above it. There is a clear uptrend. You zoom out the chart and you find that this swing is actually quite significant by looking at the big picture. You draw the extended horizontal line and you go back to the candlestick zoomed in chart to wait for the retest to take place.
This is where the candlesticks come into play. Before you enter a trade in the direction of the main trend, there has to be a candlestick confirmation that the trend is indeed resuming. You will be looking for big body candlesticks that close at or near the high or low, which shows that there is momentum in the market and the dominant side (buyers or sellers) have decided to step in and continue the trend. Let me show you the same chart above again to see what I mean by retest of the resistance level: You can see that each time the support was broken to the downside, it turned into resistance as price gets back up to retest/touch the trend line previously drawn.
If this would have been the 5 minutes or the 15 minutes chart, and the resistance level developed in 3 hours or so then yes, the retest could have been composed of just two candles. Still, this is a very important resistance on the 4h chart that took days to develop; the retest will more than likely be bigger than two candles. After this red candle, we see that there are additional candles that just stagnate around that area completing the retest of the resistance level. Finally, we have a valid signal candle that indeed pushes the price way down.