SO many 'traders' out there try and make their charts look confusing by adding a thousand different techniques onto their chart that when you look at it you instantly think I need help was it looks like a mess.
All this is, is a marketing scam technique to get you to join their service. Trust me, I was one of of these people who fell for the trap when I wanted to learn forex.
Take a look at my chart, it may look a bit intimidating if you're new to trading but the breakdown is really simple. on the 4hr timeframe that we are on here you can see within this purple area the candle wicks touch into this and reject off it showing us that this is a strong zone for price to touch and react. The long red line you can just about see is a Daily bearish trendline. This is showing us that price is heading downwards. Now, the smaller lines off the candles you can see, that is called a Fib. You add these into the recent swing high to the swing low and it gives you some nice indications.
We can see price broke this purple structure and then pulled back up and tested the level of 38.20% and price dropped, this shows us that price should continue down. What I'm looking for is a bit of strength in the dollar to push us back up to this zone so that I can then look to enter a short term sell on the pair. My stop loss will be just above the confirmation fib of 38.20% allowing price to just come and test this again should it continue up. My take profit is at the -27.20% which lines up nicely with the last time price was down in this area giving us a 76 pip TP.
A real trader will not mind giving you this information as they actually want to help you grow. Fake traders won't help you at all unless you deposit with them. Of course the price of knowledge costs. But if they are genuine they should never be too proud to help you with some tips like the above.
If you need help, drop me a message.
Trueforexx
All this is, is a marketing scam technique to get you to join their service. Trust me, I was one of of these people who fell for the trap when I wanted to learn forex.
Take a look at my chart, it may look a bit intimidating if you're new to trading but the breakdown is really simple. on the 4hr timeframe that we are on here you can see within this purple area the candle wicks touch into this and reject off it showing us that this is a strong zone for price to touch and react. The long red line you can just about see is a Daily bearish trendline. This is showing us that price is heading downwards. Now, the smaller lines off the candles you can see, that is called a Fib. You add these into the recent swing high to the swing low and it gives you some nice indications.
We can see price broke this purple structure and then pulled back up and tested the level of 38.20% and price dropped, this shows us that price should continue down. What I'm looking for is a bit of strength in the dollar to push us back up to this zone so that I can then look to enter a short term sell on the pair. My stop loss will be just above the confirmation fib of 38.20% allowing price to just come and test this again should it continue up. My take profit is at the -27.20% which lines up nicely with the last time price was down in this area giving us a 76 pip TP.
A real trader will not mind giving you this information as they actually want to help you grow. Fake traders won't help you at all unless you deposit with them. Of course the price of knowledge costs. But if they are genuine they should never be too proud to help you with some tips like the above.
If you need help, drop me a message.
Trueforexx