Forex Master Pattern (Need To Know) - Day Trading
Forex Master Pattern- is the Big Banks/Money Makers playbook. This is like peaking at their insider's books to get on the same trade train as they are on.
F.M.P. - is on all time frames, but if you are a scalper or day trader you should see them on 4-hour timeframes and lower, so you know where potentially price action will go too. In Forex you do not want to be 1st on the trade train, but wait for Big Banks/Money Makers to show their hand, then get on with them.
On the noted 15-minute chart, it shows price action for Monday on the GBPJPY timeframe. This pattern happened within a 6-hour pattern, which could have gave you a potential 40+ pip profit on trade with a risk/reward setup of 1:3 (which is minimum I look for when day trading).
Forex Master Pattern:
1) The contraction phase- mostly happens during the Asian session.
2) The expansion phase- mostly happens during the Asian/London session overlap.
3) The trend phase- mostly happens during the London session/NY overlap. (ONLY- trade this phase).
+I mostly trade GBP or EUR pairs during 10 pm to 10 am times, so see this Forex Master Pattern several times a week on a 15mn timeframe.
Risk Management #1, Price Action (trade what you see NOT what you feel), and may your trades be in profit. Stay well.
F.M.P. - is on all time frames, but if you are a scalper or day trader you should see them on 4-hour timeframes and lower, so you know where potentially price action will go too. In Forex you do not want to be 1st on the trade train, but wait for Big Banks/Money Makers to show their hand, then get on with them.
On the noted 15-minute chart, it shows price action for Monday on the GBPJPY timeframe. This pattern happened within a 6-hour pattern, which could have gave you a potential 40+ pip profit on trade with a risk/reward setup of 1:3 (which is minimum I look for when day trading).
Forex Master Pattern:
1) The contraction phase- mostly happens during the Asian session.
2) The expansion phase- mostly happens during the Asian/London session overlap.
3) The trend phase- mostly happens during the London session/NY overlap. (ONLY- trade this phase).
+I mostly trade GBP or EUR pairs during 10 pm to 10 am times, so see this Forex Master Pattern several times a week on a 15mn timeframe.
Risk Management #1, Price Action (trade what you see NOT what you feel), and may your trades be in profit. Stay well.