TAKING ADVANTAGE OF "ALL TIME HIGH/LOW" PRICES.
The first thing to check when contemplating on trading any Forex pair is whether it is at all time high or low. If it is at all time low and the M1 SMA-3 is pointing upward, you lock in a long trade of one lot or more and leave it alone. If it is showing an all time high and M1 SMA-3 is pointing down, you lock in a short trade of one full lot or more and leave it alone. Follow the position until SMA-3 shows a clear trend reversal, then you trade double the number open lots in opposite direction and continue following.
See charts below:
The goal is to buy or sell as soon as the 'Lo' or 'Hi' appears on the chart and maintain the same trade direction until any of them appears again.
The first thing to check when contemplating on trading any Forex pair is whether it is at all time high or low. If it is at all time low and the M1 SMA-3 is pointing upward, you lock in a long trade of one lot or more and leave it alone. If it is showing an all time high and M1 SMA-3 is pointing down, you lock in a short trade of one full lot or more and leave it alone. Follow the position until SMA-3 shows a clear trend reversal, then you trade double the number open lots in opposite direction and continue following.
See charts below:
The goal is to buy or sell as soon as the 'Lo' or 'Hi' appears on the chart and maintain the same trade direction until any of them appears again.
Mecrandie