Download Day Trading Forex with S&R Zones - Forex Trading System by Laurentiu Damir PDF
By Laurentiu Damir
Day buying and selling foreign money with help and Resistance Zones
- Forex cost motion Day buying and selling process to make one thousand pips per 30 days with
- Low possibility - excessive gift buying and selling (1:3 Risk-Reward ratio)
- Clear access, cease loss and go out levels
- Timeframes used: 1hour and 4hour
- Moving averages
- Support and resistance levels
- Price patterns
If you require extra info be at liberty to touch me at firstname.lastname@example.org
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Extra resources for Day Trading Forex with S&R Zones - Forex Trading System
Day trading is not about entering trades on the smallest timeframe possible. The smaller the timeframe the less accurate your trading setups will be and the more losing trades you will have. For a trade setup to be a winner it must hold significance within the overall picture. A support or resistance level on the zoomed out 1h chart has far greater importance than one on a smaller timeframe, therefore it has much greater chances of success. Support and Resistance As I said earlier, we will be looking for significant support or resistance levels on the zoomed out 1h chart.
When this pattern emerges it almost always means that the trend is in its final moments. Therefore, when we have a trade opened and we are in profit, we look at the chart to see if there is such a pattern by connecting the last two minor highs and the last two minor lows that price makes on the zoomed out candlestick 1h chart. Let me show you know where exactly you exit the trade after discovering this price pattern: This way you will rarely have a trade that goes against you and eat your profits because you did not exit when you were supposed to.
This is not good; it means that the uptrend in this case, is not strong enough so you will not be looking for trade setups if you see this kind of price action behavior. You always have to look for the price action to be completely above or below the moving average or just touching it for a brief period and then bounce off of it and resume its direction. There is one more important thing about the moving average that you always have to keep an eye on. The slope of the moving average has to be always in the direction of the price action.