Determine long-term Forex settings

Just think about the possibilities when you’re able to identify these long-term setups, so now what I want to look at is the bearish king crown again, and tell you all that I had a time when I started learning how to trade and how to see these things. I haven’t been able to see them my whole life and now I see them everywhere this setup you have to go down King Crown so it’s a bearish reversal pattern and what it can do is it can signal a big bearish move.

Determine long-term Forex settings

You can say that, I’m bearish for the next 841 points I’m looking for sales, that’s all I’m looking for or you can say I’ve got a nice little account, I’ll tell you $5 on this and I’ll let it run all the way. And so it’s really up to you even from $5 like this is a pair of US dollars, so it’s dollar for dollar, do the math 5 times 841 of course you have to have the account size for that to make sense.

The market depends on the time frame you’re in, so if you’re in the moment if you’re working every day, you can expect it’s going to be a brutal move, which is okay and a lot of people often mistake this as a head and shoulders move. It is not, and if you remember from the beginning of this article what is the main distinguishing difference?

Well, if you’re multitasking, come back to me because this is good information, this is what you’re going to need to be able to activate this trade and move it and execute it so you can spot it right What’s the main difference Tell me in the comments below What’s the main difference between King’s Crown And head and shoulders, I give you a second the difference is the neckline on this neckline.

Forex trading wave sequence

In the bearish version of this, before the right end is formed, you will have a lower point than it had on the right end, so it will look diagonal to the right and what I see indicating in my view is the wave sequence that you see, so remember how we looked at the high, the low B, the dip C, the extension D if you put your FIB on this, it tells you where you need to take profits right, as I said that can indicate a big move in the market.

I like to incorporate the FIB into this because it will tell me exactly where to get in and where to get out and it will show a big move so looking at this I said this is your C pullback, this is your G to take profits right so let’s take a look at this to live in the market and this was Strange thing for the euro and this was last year.

4-hour chart in Forex

The 4-hour chart is right and I thought I saw what I think is a crown how I kind of figured this would be my crown is the fact that I had a bottom point before the right end formed, I had an area higher than the neckline on the left, I don’t want to call it a line The neckline because it’s not a neckline and then I had a high center peak.

So what I thought would happen based on my analysis of multiple time frames, is as if I’m telling you all that this is going to be a game changer for you once you master how to do this. I thought I saw the possibility of 5816 pips hitting my take profit level so my take profit was set at this green line here, a lot of people ask how do you know how do you know how far the price is going to move as I’m not a juggler.

Fibonacci tools with a time frame for Forex trading pattern

I’m not a psychological broker like I’m using Fibonacci tools, I’m using chart patterns, I’m using multiple time frame analysis to identify my key support and resistance levels and my trend lines to determine how I’m going to execute in the market and so you see here I pulled out 5816 pips and what I got 5816 points correctly.

And so even during this movement, you can see a double top forming on the right, you see that here is where my mouse is if you’re multitasking, come back to me, that’s good information here you see that the double top has formed, so at least I should have You know a good price is coming to at least travel to this daily level.

Execute and set the entry of a Forex trade

Because of this formation that we’re in I have here this double top and I know I can move this to the daily level but the bigger picture move was that bearish crown and the bigger picture move was that bearish crown and so I was able to execute and set an entry in this setup and capture a lot of this move.

So when we talk about splitting trades, you could have said okay, I’m taking the first position of this trade all the way down to tp1 which is the daily support level, and also the support level which is the ending level of the double top and then I’m going to let this second position go towards the take profit at 1592 and that’s what I’ll do it now, instead of just picking up 581 points.

Summary

You can turn this into a 700 pip movement, and again you have to look at your account size you have to look at the fees that your broker is charging to see if this is something that you’re going to want to swing, and I know a lot of you are like I can’t even getting over one day how am I going to get over 581 holes, especially on a slow-moving pair like you. How I would do it requires practice but you can do it.