By Laurentiu Damir
Day buying and selling foreign money with help and Resistance Zones
- Forex cost motion Day buying and selling process to make a thousand pips per thirty days with
- Low chance - 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 additional info be at liberty to touch me at email@example.com
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Extra resources for Day Trading Forex with S&R Zones - Forex Trading System
The moving average is almost horizontal, and the price action is ranging, it’s going up and down crossing the EMA. Timeframes We will be using the 4 hours timeframe to see the overall trend as explained earlier. If the pair trades above the 200 period exponential moving average then the trend is up, if it trades below the moving average then the trend is down. After we do this, we go to the 1 hour chart and do the same thing. If on the 4h chart price is above the EMA, on the 1 hour chart price must also be above the moving average for us to consider looking for trade setups on that pair.
Here is an example of a short trade: This is it. In the end I would like to apologize if I sound a little to rigid in my explanations and if there are any misspellings. English is not my first language. I am doing the best I can. Thank you. If you find that this adds value to your trading please consider writing a review of the book on Amazon. It does not have to be long, just a few words to state your opinion about the trading system presented in order to help other people make more informed decisions.
When you first enter the trade, the system gives you a stop loss level and now it will give you an initial take profit level as well. This TP level will not be set in the market because it is not a fixed value; it depends on the speed of the price movements and their direction. Ideally, price will touch it easily and you will not have to worry about a thing but if the price does not go to this take profit level and instead makes a reversal wedge or breaches the trend line or the moving average then you exit the trade manually as explained earlier.