Conservative approach to trading Forex market positions

The main thing you have to do if you look at this neckline, is what you want to look at on the neckline is it is the same across the board so you will see that the formation started at the monthly support level and then we went up and formed a daily resistance level, and then the price came down to form another level From daily support, then it pushed up to reach the monthly peak, then it made its way down, rose, then broke. Thus, the conservative approach is to enter the conservative approach.

Conservative approach to trading Forex market positions

Let’s say you had 380 pips on the table that you could have taken advantage of now, I was going to move to a lower time frame to find the entry point but I could have put my stop loss just above the daily resistance so 3 80 pips, all these moves are on the table I’m trying To tell you they’re on the table and people laugh at me when I say code 28 charts or they look at me like I’m crazy.

The reason why you want to mark up these charts is so that you can find the best options for you for these charts’ types of moves and these types of setups because not every pair is going to give you a huge movement in the market every week, but if you’re looking at 28 different pairs, you should be able to… Find at least two or three strong settings correctly.

How do you get a lot of pips in the Forex market?

You should be able to find something that you can set that you can forget and so people also often ask how you get so many pips in the market and that’s because I look at a large number of pairs and I rate them because every setting or every pair Sorry, we’re not going to give you every setting week, so you need to be able to follow along and see what’s going on this week and what looks good this week.

This is how you can get a large number of pips in the market okay, so let’s take a look at the final diagonal which a lot of people often call a wedge as I mentioned before, this is the final movement of a bullish rally using the Fibonacci tool, where you can decide where to get where to exit and where to take profits.

This is the same thing that we discussed before, which is five waves of three waves, so remember that the drawing that we made with low B and up and extension C and pull D so you got one 2 3 you have one two 3 one so you can trade this But I don’t recommend it because it will probably be choppy um I like those clean simple moves that come out of the analysis well and so the price usually moves back to the beginning of the formation.

How to place a stop loss above the rise in the Forex price?

To simplify this, I did not draw the line back to the beginning but the price is expected to move that far so getting into this is critical similar to what we saw in the bullish version of this but you would be looking to get in when the trend line breaks on the right and there will be Usually you retest on the back side and place your stop loss above the recent high now.

That’s if you’re on the lower time frame if you’re looking for oops on the higher time frame yeah lower so if you’re on the lower time frame that’s not a lot of pips if you’re on the higher time frame you want to dig deeper and find the recent high, you can put Your stop loss is relative to your take profit level at the start of this.

This formation or you can align it using the Fibonacci tool so we’re going to go take a look at that and we’re going to see that live in the market. Excuse me market, this is weird in USD and this is a daily time frame, that’s why you see this huge number of 8417 pips.

Testing the currency price on the back side of the Forex market

This is a move to the right and so you have your wedge forming and then you get a break below your trend line and then you see the price come back up and you see the price testing this back side of the trend line forms a weekly resistance level kind of a decline and then it comes back to test that level again and then it pushes up. Down to daily support.

take profit you see the price got right to that level and then it started moving from there so now what I recommend is that when you make a setup that runs on a higher time frame I expect the price to come back to retest at some point so when I say a lot of people Like you trade 800 and something in pips again it depends on your broker it depends on your account size.

Large account size and long Forex deal management

If your account size is large enough and you’re running a very long trade, I would give you a little bit of breathing room uh for your stop loss on that type of setup because a lot of times at those higher times it takes a while for the price to decide to give up on that level.

I say that because if the price is moving away from a higher time frame level, you will see that it will move at that level for a short period and will also come back to retest to make sure that the price is ready to move from that area.

Summary

The price retested the back side of that trend line and then came back dropping the area and testing it again before falling off the right cliff, and that’s what you have here, so using your multiple time frame analysis using your chart patterns using your big support and resistance levels.