How I took this trade
I found this setup while strolling on the EURCHF chart. I saw it was consolidating between 0.97600 (resistance) and 0.97230 (support).
Based on this, I drew a consolidation zone and waited for a fakeout, which happened before the market closed on Friday. It had a little fakeout of around 1-2 candlesticks on the 1H chart.
From this little...
Hey guys, I'm new here, but just wanted to confirm some of my recently learned knowledge. Based on the first kiss (Naked Forex) principle, I went back on the charts and found this pattern on US dollar v Hungarian Forint.
I noticed that between the 28th of April and the 18th of May, this pair was consolidating. A very strong support and resistance zone was created...
