Trading Strategy 24/01/23

Most of the points from the last strategy post remain.

  • Mark out support/resistor levels as well as any supply/demand areas.
  • Watch for any obvious trends and channels.
  • Look out for any of the main candlestick patterns.
  • Trade on the lower time ranges (Less than 30 minutes).
  • Focus on quick trades, no longer than 20 minutes.
  • Exit if loss reaches £50.
  • Alternate between ordinary candle sticks and Heikin Ashi ones (HA give a clearer depiction of trends).
  • Not using RSI. For high volatile forex will try the 5/8/13 EMA plus the parabolic SAR to find entry points.