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My current way of approaching the market

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My current way of approaching the market

Observe price action on multiple different currencies and multiple different time frames. Draw out support and resistance levels to determine whether or not something looks like it's going to pivot or breakthrough and continue. Place trades on the daily chart on currency pairs that look the most likely to make either a continuation or are making a pivot on a significant support or resistance level.

It's pretty basic but so far it's been working out well for me.

I really enjoy the lack of indicators on my screen because personally it makes me more confused and cluttered.

Mon, 07/22/2019 - 11:42am

We have the same strategy but I check the weekly chart if it same direction. Remember position or long term traders uses monthly and weekly as their timeframes. Swing or intermediate traders uses daily or H4 TF


I've found making trades on longer term chart setups is less stressful and more profitable. The maket tends to make a number of short term fake out moves before it resumes the longer term trend. The charts you pick to follow depends on the amount of pips your looking to make on a trade. Loving to the 2 hour chart so far. I also reduced the amount of indicators as well and find longer term support and resistance areas more reliable in planning trades.


Interesting concept. I think I will look into that. I find that the longer time frame you use the lest stressful the trade because you know you are going to have to waite a while for the development of the trade.


May I comment, although my experience is limited. When you trade longer time frames, don't you have to check regularly and watch for swings and reversals. After all the market is in constant movement trending or consolidating and reversals can easily cancel out gains.


Arthur, this is a game of probabilities, and the probability is an object in motion will stay in motion, thus when PA is moving with moomentum it will continue. To increase those odds dramatically we study the S&R for our targets and stops.