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Please refer to 4 hour AudUsd chart: Setup: 1) Target 0.64500 2) Enter 0.64250 3) Stop 0.64000 Yes, this set up and trade I will do is a 25 box (which means 1:1 Risk Reward) and that stop loss and target will be same distance from each other. Will let price action go north or up higher and hit my entry 1st at 0.64250- which will trigger into this trade,...

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My Setup is: Stop: 80 pips lower at 93.449 Entry: 94.249 (right now price has not hit my entry, so just set a buy limit above current prices and a stop limit at target/exit. Target (Wick Fills of last three candles): 95.049 Yes, this is a 1:1 RR or Risk Reward 80 Box related to using Daily Time Frame Double Pitchfork indicators- shows buying is stronger...

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I except that EurCad will be bullish during first trading session next week. I have placed two double pitchforks over price action, they give me convergence and support and résistance levels for this trade plan. This will be a set it and forget it trade. Price Action now is: 1) Price action is above psychological level of 1.34500 (major level of buying and...

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See chart for more details on when to trade them, where to set entry, stop and 1st and 2nd targets. WHAT IS A SHOOTING STAR CANDLESTICK PATTERN? A shooting star formation is a bearish reversal pattern that consists of just one candle. It is formed when the price is pushed higher and immediately rejected lower so that it leaves behind a long wick to the upside....

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Pinbar Forex Trading System — a popular strategy for entering and exiting positions that is based on the particular candlestick pattern and the following price action. The Pinbar (also known as "Pin-bar" or "Pin bar") pattern was first introduced by Martin Pring in his Pring on Price Patterns. Features -Conservative strategy offers low-risk high-yield...

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Example on 1 hour EurChf Chart for Friday ( sell trade, but can do on buy trade too)… its Friday: Don't be greedy). Note the following: 1) Big Banks selling (note large 1 hour candlesticks- on charts)- only people that can do that are big banks and/or institutions (not retail traders). 2) Two areas of sell imbalance (they must be filled with buy either today...

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How does Forex market work? As a trader, you decide if you would like to buy or sell. The broker finds someone who would like to do the opposite and they introduce the two of you. The broker then takes a small cut (spread) of the transaction price for arranging the connection. Foreign exchange is largest liquid market in world, but what does that mean? Has a daily...

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Trading ABC pattern is one of the most frequently used trading strategies by Forex/financial traders. The chart is a Bearish ABC Pattern. Once the price makes a breakout, makes a correction, and produces a reversal candle upon finding point C, traders trigger their entry. It is a favorite pattern among all kinds of financial traders. It brings profit at least on...

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AB=CD pattern The regular AB=CD pattern, both the AB and CD are exactly the same length and/or pips on a forex chart- BUT- the alternate AB=CD is where the CD is longer then the AB leg/length- there can be a range of fib retracements and/or extensions which are part of this simple AB=CD pattern but that is OKAY. Scott Carney - creator of harmonic pattern rules...

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Yes, you can scalp or day trade harmonic patterns in real live time, If you know what to look for. All harmonic patterns have their own fib retracement and/or extension ranges- which need to happen- for them to be called certain names. When a PRZ happens, instead of just jumping on a trade, get a confirmation move out of PRZ and then reversal back to it with an...

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On AJ 1 hour chart, did you notice that the example bullish crab pattern ended on Friday? On the AJ 4 hour time frame (refer to another article done today by myself) it showed another harmonic bullish pattern- see two time frames show that this pair when they open up on Sunday/Monday will be bullish when it starts out trading. Just wait for an Engulfing, Harami...

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On the AudJpy 4 hour chart example of a bullish cypher pattern. Yes, all harmonic patterns have their own Fib. Ret and extension percentages you need to look up and know, if you use harmonic patterns in your trading. Higher timeframes of 1 hour, 4 hour and daily work the best when using harmonic patterns, but can work on smaller timeframes- just less time for you...

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With any harmonic pattern you want to let them completely finish before you make a trade at the PRZ (potential reverse zone) area. All harmonic patterns have there own Fib. retracement and extension range percentages, which you need to look up and know to verify that they what you think they are. This Bearish Gartley pattern stick out very easily, on this EurJpy...

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The 1 hour Forex strategy that most intraday traders use as part of their strategy. The 1-hour trading strategy is a very popular trading strategy, as there are so many ways that you can utilize the one-hour period. Rules: Right pair, Right Price, Right Session & Right Time. KEY TAKEAWAYS The 1-hour forex trading strategy is a popular strategy amongst...

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1. China created the first paper money in the world, some 1400 years ago! 2. Up to World War II, tea was used a form of currency in Asia, spanning countries such as China, Tibet, Mongolia and Central Asia 3. The word dollar finds its origins in the world thaler from Eastern Europe. Silver coins were called as thalers and used widely in Europe between 16th and 19th...

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What Is An Imbalance, Fair Value Gap (ICT on YouTube) and/or inefficiency in price (all the same thing) An imbalance can be defined as an imbalance between buyers and sellers. A bullish imbalance has more buyers behind it and a bearish imbalance has more sellers behind it. When you see an impulsive move to the upside or downside in the market with no wicks...

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Leverage allows you to potentially trade more money than you have in your current account. Your broker gives you a loan of 1:10 up to 1:50 leverage for your trading, in the U.S.A. (see chart attached). You can change all amounts and % per trade on the chart. Remember less leverage you put down on a trade, the higher margin (deposit or cash out of your account...

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What Is an Imbalance of Orders? An forex imbalance of orders exists when there are too many (either buy or sell) orders of a listed pair that cannot be fully matched by the opposite order on an exchange. This applies to either buy, sell, or limit orders. An imbalance of orders is also referred to as an "order imbalance." Good news would increase the demand (buy...