HOW-TO Use the MTPredictor Trade setups with a Forex example
Updated
In this help video, we would like to take a look at how to use the MTP Trade Setups, with a current FOREX example on the EUR/CAD.
As you can see in the video, MTPredictor is not a "Black Box" system to be traded 100% mechanically. We do not do this because we view the Markets as being random (without any clear pattern) about 50% of the time. To decide when the picture is clear, we look to the Market making a clear reversal at "higher time frame" DP support/resistance, This was on the Daily time frame in the video.
The EUR/CAD then reversed at the Daily DP resistance which set the larger degree tend to down, and as such signalled that short trades should be considered. In the video we then added the Analysis to the current TS4 sell setup.
As this setup has not currently reached its first projected Profit target we can come back to this later and see how it unfolded.
Please note: this is not a trade recommendation, you should all perform your own Analysis. Losses can and will unfold when Trading, please always uses Stops and keep your losses small.
As you can see in the video, MTPredictor is not a "Black Box" system to be traded 100% mechanically. We do not do this because we view the Markets as being random (without any clear pattern) about 50% of the time. To decide when the picture is clear, we look to the Market making a clear reversal at "higher time frame" DP support/resistance, This was on the Daily time frame in the video.
The EUR/CAD then reversed at the Daily DP resistance which set the larger degree tend to down, and as such signalled that short trades should be considered. In the video we then added the Analysis to the current TS4 sell setup.
As this setup has not currently reached its first projected Profit target we can come back to this later and see how it unfolded.
Please note: this is not a trade recommendation, you should all perform your own Analysis. Losses can and will unfold when Trading, please always uses Stops and keep your losses small.
Note
Here is the EUR/CAD a day later: tradingview.com/x/lHYjrRbo/, just reached its projected profit target.
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Help Videos: mtpredictor.com/tradingviewhelp/
Trading View Scripts: mtpredictor.com/tradingview
Help Videos: mtpredictor.com/tradingviewhelp/
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