We must be able to identify support and resistance levels as that’s where are going to use this strategy. The two possible scenarios that we will see sometimes happening on charts are as follows. By monitoring a support level, maybe hoping to buy on the upward bounce of price on that support level but it [...]
It is the best strategy for traders who do not prefer to trade in small time frames because it will give you 24 hrs opportunities to find a trade especially with the usd vs jpy chart. Since the JPY is active after the main currency pairs slow down in trading volume. Timeframes : only on [...]
Ability to spot reversal patterns when they form is important skill for the traders. One of the popular reversal patterns is the bullish engulfing pattern. It consists of 2 candlesticks, the first one is bearish and the second one is bullish. In this pattern the second bullish candlestick “engulfs” the bearish candlestick before it. Here is [...]
This is a price action trading strategy called the Multi-Timeframe Trading with Trend line Trading Strategy and 123 Pattern. It is a strategy complimentary to the trend line trading strategy and to understand the concept of what we are about to show you here, you need to think in terms of multi-timeframe trading. Multi-timeframe trading : It simply means a combination of [...]
