16# Key Points Trading System
Submit by Machello (author Steve Mauro)
Submit by Machello (author Steve Mauro)
Currency Pair:majors
Time Frame 15min
1) There is a market pattern you can exploit for morning reversal breakout.
2) Accumulation-during Asian session the high and low of the day is set. Positions get built during this time.
3) Stop hunt- false moves against the real direction. Traders jump in and get
trapped.
4) The true trend is slow and steady and takes several hours to cap off.
5) End of day- off of high/low back into consolidation where traders get trapped in consolidation paying rollover.
6) They will burn your account and punish you. This is why you should not trade
with the retail traders. Try to pay attention to your charts and watch those breakouts from the range..........these are the moves that trap the herd. When the W or M forms-enter going the
opposite way.
7) Never trade in the middle of the range. Short off the top of the range(daily high) or go long off the bottom of the range(daily low).
8) You must watch for the M and W formations near the high and lows for these
moves. The cycle begins and ends with consolidation usually in the middle of the range where they can keep the buyers and sellers trapped until they come get your stops.
9) Choppy days are created on pairs to handle the crosses. Market makers work the entire board by moving or holding a major pair. This is how they cause fractional disparity.
Share your opinion, can help everyone to understand the forex strategy.
Rick (Tuesday, 19 May 2020 19:04)
I Have a confusion what is INTIAL STOP??
WHAT IS TP!1/TP3 STOP?
How to enter trade with this please explain.