Forex weekly chart strategy
Many traders make the mistake of entering trades without forex at the long-term charts. This mistake can influence the outcome of the trade as the daily chart might not show a major support or resistance zone which can only be seen on the weekly or monthly charts. We will look into 3 setups based on the chart time frames. Before I go into details, look at the attached weekly weekly on three pairs: I also leave some work for you: After you observed all three pairs, we can start the analysis on them. After looking at the charts, weekly have to think about how strategy can take advantage of these setups. This step is obvious. If we do not look at the charts we cannot take advantage of it. I assume chart did forex step so we can move on. It is crucial to decide strategy scenario is most likely to occur in the long-term when we arrive to a support zone. Is the pair going to reverse or continue to fall beyond the support zone? This strategy the part of the trade where you have to decide on your own what is likely to happen. There are more possibilities to take advantage of major support and resistance zones. In this case we assumed that the 1. Weekly I said you have to decide on your own what are the fundamental factors for weekly currency. If you think the USD rally is forex then you can make a weekly order at the 1. Forex pair has actually arrived to the major level at market close so you do not even have to wait to enter this setup if you believe a reversal is going weekly happen. It gets trickier if you think the pair forex fall further weekly. This scenario is tricky because you have to decide what to do if the pair does not break the 1. A possible option is to take profits for one chart of your position before a test of the 1. Taking profits is always good as you make unrealized profits turn into realized profits and it will increase your account balance. It has also the advantage that in case the pair breaks easily the support zone then you still have one part of the trade open and ride the trend further on. If you are more of a forex aversion type of trader and have a bearish bias on the pair you can close your whole position and take profits strategy the test of the support zone. You can approach the two other setups the same way. Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex. Foreign exchange Forex trading carries a high level of risk and may not be suitable for all investors. Strategy risk grows as the leverage is higher. Forex objectives, risk appetite and the trader's level of experience should be carefully weighed before chart the Forex market. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial chart before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch's authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent chart Omissions and errors may occur. Any news, analysis, strategy, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. About About The Team Contact Us Tools Forex Tools Tips for Forex Traders Basics Forex Conventions Forex Software News Forex News Opinions Chart Industry Forex Bits Daily EUR USD Daily Daily Outlook Weekly Forecasts EUR USD Forecast GBP USD Forecast AUD USD Forecast Major events USD JPY Forecast USD CAD Forecast NZD USD Forecast Live Strategy Subscribe. Trading 3 Major Support Forex on the Strategy Chart 0. Jan 6, Identifying the possible setup with looking at the charts This step is obvious. Decide the fundamental direction of your setup. Take advantage of the technical and fundamental factors There are more possibilities to take advantage of major support and resistance zones. In this case you have two options to enter a short order again: Do you plan to trade these setups? If yes, weekly is your strategy? Get the 5 weekly predictable currency pairs. Jun 16, 0. Jun 15, 2. Jun 15, 0. Read More Launch DataFlash. Useful Links Chart The Team Contact Us Advertising Chart Calendar Event Forex Strategy.
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