Euro / Australian DollarEducation
Can You Profit Day Trading? Yes
Keep Trading Simple!!!
Volume is the heart of trading Forex. This tells us how much interest is in a candle or at a price level zone- where big money and hedge firms are trading.
On chart example: London and NY session overlap is a very high liquidity and volume time every day to trade. Only 4 hour period.
Use only:
1) Simple Volume indicator
2) Session indicator
3) Bolliger Bands indicator
Rules are:
1) Is price action over a critical price action level? yes- 1.55000
2) Is price action over 20 ema of Bolliger Bands? yes- over yellow line
3) Use ATR for stop loss, entry and targets- this is something that all Forex traders should know on pair that is being trader.
4) On chart is 25 pip stop vs 62.5 pip is risk reward 1:2.5 setup
5) Only find setup at around start of London/NY overlap and trade during this 4 hour time period. Close all trades at end on London session.
Volume is the heart of trading Forex. This tells us how much interest is in a candle or at a price level zone- where big money and hedge firms are trading.
On chart example: London and NY session overlap is a very high liquidity and volume time every day to trade. Only 4 hour period.
Use only:
1) Simple Volume indicator
2) Session indicator
3) Bolliger Bands indicator
Rules are:
1) Is price action over a critical price action level? yes- 1.55000
2) Is price action over 20 ema of Bolliger Bands? yes- over yellow line
3) Use ATR for stop loss, entry and targets- this is something that all Forex traders should know on pair that is being trader.
4) On chart is 25 pip stop vs 62.5 pip is risk reward 1:2.5 setup
5) Only find setup at around start of London/NY overlap and trade during this 4 hour time period. Close all trades at end on London session.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.