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In this article, I am going to explain a simple but powerful trading system, as an example of how to combine a short term view, with a wider one. In order to do so, I will use a thirty minutes chart to find good entry points, and a wider time frame, that in this case will be four hours, to see the main tendency.
In order to have a more clear vision of this, we will be using some tools, such as trend lines in the four hours time frame chart, which will be very useful to set clear limits on when and where the tendency starts and ends. This is very important, because while the positions are open, it is very easy to fall in a deceptive spiral of wishful thinking and tolerance to losses, that invariably will lead us to undesired results. To avoid that, the use of a simple line will show us this limits, and will help us in the decision making process when we are inside the market.
Let’s see an example of this, for the EURUSD pair, in a four hours time frame chart of the current week:
We can see that, from the candle that actually ends the bullish tendency, until the start of the bearish one, there is a period of almost one week of uncertainty, in which, we will be systematically out of t…
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kuzmichov1 avatar
kuzmichov1 20 Feb.

Я торговал по этой системе, много убытков.

antoniogreenblue avatar

Good. I like the RSI indicator ;)

Adel55 avatar
Adel55 21 Feb.

احسنت

wind87 avatar
wind87 23 Feb.

good

miriam1313 avatar
miriam1313 25 Feb.

fantastic article!

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As an introduction, I would like to say, that what you are about to read is a prediction in the behaviour of the Forex market, reached after an analysis of different aspects and variables that I think strongly affect this market, it is important to note, that traders and analysts must usually try to figure out what is going on in the markets with incomplete data, and often two different analysts end up in different conclusions even when they start with the same data. This is why every trader, must base their operative on their own analysis and anyone using this article as a guideline, is doing it on their own responsibility.
THE RISE BEFORE FALLING
The price of the USDCAD pair is drawing an interesting triangle in the daily chart, between the levels reached on January 2016 of almost 1.47, and the 1.25 level reached on May 2016. After that, the price have been moving quietly between those levels, until the current point in 1.307, where, as I am going to explain, it’s about to go up, but in my opinion, only to achieve and probably for the last time, the levels of the upper line of the triangle, and from that point on, start falling for a long lasting period of time, that according to…
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gargantua avatar
gargantua 17 Feb.

nice article

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