Forex monthly chart strategy


forex monthly chart strategy

me interest, daily, to hold the position. In your larger timeframes, you need to be monitoring: support levels resistance levels trendlines channels fibonacci retracment levels, these are the top 5 levels or zones where price can reverse from. 39.95 USD It is recommended that you have read the Forex Strategies Guide for Day and Swing Traders before studying this Weekly Course. One major note about this strategy is that you must be disciplined if you want to succeed. So again, when I am talking about Long Term Trading, I am talking about using the Weekly charts (and even the. These are forex strategies forged by relentless dedication to trading, and tens of thousands of trading hours and trades. Here is how the strategy works: 1 Take a look at the Monthly and Weekly charts. These moves may have originated from support and resistance levels usually, trendlines and maybe even fib levels and the thing is it is these that cause the price to move in thousands of pips.

forex monthly chart strategy

This chart below explains what Im talking about. If you have limited time but want to capitalize on the forex market by only looking at your charts once per week, or, if you want to increase your current trading income without impeding on your current strategies, then the. Notice those support and resistance levels highlighted in blue boxes and how price moved when it reached them? Get paid daily for every trade taken. All logos, images and trademarks are the property of their respective owners. Strategy sets you up for success more so than using smaller time frames to trade, and I will get into several of those reasons within this article. . With day trading we can potentially take several trades a day, racking up gains and realizing profits very quickly. Contact us, about us, guest blogging, terms of Service Privacy Policy. As price nears, switch to a much smaller timeframe like the 1hr, 4hr or the daily timeframe and you can place a sell limit/ buy limit order depending on which side the price is heading to or you can watch for a reversal candlestick signal. Something like this: weekly chart OF trend Identify the direction of the trend (bear or bull) and make a note to only look for entries in the direction of that trend (for instance, if it is a bullish trend, look for buys). Just like I showed you in the video above; some trades win and some lose.

Forex monthly chart strategy
forex monthly chart strategy

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