Greetings Fellow Traders, Price Action, Support and Resistance are a very critical part of trading and always aid in the removal of emotions from any trading scenario. I've posted a couple of analyses recently regarding this pair, and one of them turned out to be an opportunity that would have been a loss. It's just as important to know when to exit your trade...
Here is another example of how the high and low for high wave candles are usually trade-able support and resistance levels. I think the chart explains it all. When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers...
Introducing another posts type named " Watch This Candle", I will try to spot and explain the main important candlesticks patterns. I wish you like it. If you do please comment and agree so i...
This is a very simple, yet very effective trend following strategy. 1. Display price using Heiken Ashi candlestick. (Removes a lot of the noise and allows to see smoother movement). 2. Trading daily charts allows less whipsaw movement and much cleaner entry/exits. 3. Confirm if trend is UP, DOWN or SIDEWAYS. Entry Signal is: 1. Medium to Large HA candle...