Many times we have had frustrations of why we entered a position and it suddenly turned on us but have we ever tried to find out the points at which these turns are likely to occur and avoid them. This alone is crucial to trading the forex market and ensures your potential gains are not lost in the retracements we see.
I have a wonderful suggestion. First see this chart. This is a chart of my betonmarket trading platform along side my forex meta trader chart. See the indicators all lined up.
The truth of the matter is this, whether you like it or not the forex market does not care whether you are short or long a currency pair, hence it just trends as it deems based on traders emotion. So the only alternative is to find out at what point will these support and resistant points likely to occur.
We’ll be learning that together on this page.
We have lots of technical trading indicators. I use the bollinger band, moving average, a support/resistant indicator, Fib and pivot point. I’ll also like to add I trade the 5min charts. The combination is awesome.
You see at every move of the tick of the currency, a support or resistance is established,which is either annulled or establish by price and verified by these indicators I mentioned.
Now look at the chart above. The first candle picked from an unbroken MA and sent the bulls to work. You’d also notice that the bulls couldn’t break through my resistant indicator. The result was a down run on the currency.
Now look at how the currency pair kept on sliding until a support was met on the 5min chart. The result bulls came by again but notice they could not break above my fib and MA and then notice what happened in the next chart
It went bearish and could only find a support at the bollinger bands tail. It then shot up again only to be limited on my fib Indicator. The next chart tells a whole lot more. The reason why I’m actually taking my time to give this explanation is this. You can profit unending channeling this info betting for or against the market riding the roller coaster and earn lots of money doing this. Learn the market’s pros and cons and then leverage on its weakness to make your mark on dollar earnings.
Before I windup here, lets have a view of the last chart I’ll show you and how to leverage on the power of these illustration.
Wow! Just look at what happened. Just because the price couldn’t break above the Fib, you can see a break below to the daily pivot point and walah the price does an upside move again. So having and knowing the exact points of these support resistance gives you no small room for earning every dollar you literally deserve.
Okay, so here I drop my pen and hopefully you’ll get to see more sound info on trading the forex market profitably using either the betonmarket system like I said here or trading with a broker.
Well just incase you’d like to have my full explanation plus indicators and parameters for trading this market successfully then head on to 2-great-indicators. If you would also like to join betonmarket and profit with what you’d purchase and start earning your cash on the go then see this link betonmarket.
For more info send email to: forex2pavillion@gmail.com
Fantastically interesting thanks, I believe your current readers could perhaps want way more reviews such as this carry on the good hard work.
Thanks a lot. Tim Cole.
Please could you write your comments in english…… Thanks