you a bit of context, if you are a forex trader and you are using the metrader4 trading platform, it got only 9 timeframes where your charts can be viewed in which are the 1m, 5min, 15m, 30min, 1hr, 4hr, daily, weekly monthly. I must warn you though that this price action trading course is fairly long and you many need a cup of coffeebut its not boring. Easy Forex Breakout Trend Trading Simple (and Advanced) Systems.". Well, if there is an obvious pattern on the chart and you can see it clearly, then you should know that there are thousands of traders out there are watching the exact same thing as you are doingbecause its so obvious. I read the manual, studied some charts and got to work this morning. They have great chance of being profitable. But I think being late can be as risky as being wrong.
This can works for you or against you. Thats what I like.
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Id prefer to enter trades with breakout candlesticks that are close to the trend lines that have been broken. I switched to the 1hr timeframe and waited for price to come and hit the confluence zone and saw a shooting star, a bearish reversal Candlestick pattern (also sometimes called a bearish pin bar). It has a very long tail and a short upper wick or none at all. Which means that the risk:reward of the 1hr timeframe trade is a lot better than what you would get in the daily. Instead of losing 2 of my trading account, I lost almost half. If you put the time and effort into learning them, it wont be long before you will begin to understand and see how all these things fit together. I often tend to place my profit target on previous highs. Because they are not even aware of their greed. It controls them and pushes them to overtrade and take wrong positions, but they dont know. When I see spinning tops form on support or resistance levels, all it tells me the bears and bulls do not really know where to push the market and so when a breakout of the low or high of a spinning top by the next.
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