reversion and entering a trade just prior to mean reversion can make for a painful trade. The H4 could be a completely different trend to the 15 minute chart. You can see there was a drive to this level and then a very weak candlestick shows. Forex traders in the past 15 years. Your stop loss should be below #2 with buffer room to allow for noise. You exit when you see price is no longer respecting the stair stepping trend direction pattern.
1-2-3 forex traders
They created Simple 1-2-3, forex. Another profit taking approach is to use Fibonacci extensions. 123 Trading Plan Trade Setup 1 You should be familiar with the numbers and what they represent on the chart. Exercise: How to Draw 1-2-3 Manually 1-2-3 Patterns Within a Trend Open your MT4 Chart. Flexible, use Simple 1-2-3, forex, trader to trade any currency pairs you please. It depends on how far price has traveled. . See if you can find some type of consolidation on your trading time frame or even a lower time frame. . Point 2 becomes the lowest low point (forms support) and price moves up Finds another resistance at point. 1 2 3 Trade Exit Once price takes out #1, you exit the trade regardless of the profits you have accumulated. .