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Support & Resistance trading strategy (part -1) Technical Analysis Bangla Tutorial
for anyone wondering, this past trading week, 1/6/20-1/10/20 (GBPUSD) had a WIN, WIN, LOSS, WIN, LOSS. the total profit could have been more than 50 pips per win, but assume only 50 pips per trading day, so 150 pips profit, and technically speaking you could've had trailing stops and cut your losses neutral, but assume you had a 10 pip stop loss for a 20 pip loss = 130 pips net profit.
Sound strategy. Fits perfectly with what I've been learning about the volume happening on GBPUSA on the 4 hour chart! The trick is to gain confidence from other ways like MACD and know when to get out when it doesn't work. I'm getting there!
You looks like Pewdewpie..i thought Pewdewpie was trading ahahaha
I just leave my request what time we will entry and what time we will look for this strategy…
I am a beginner for forex.. Sir, please explain where we enter hour and where we get the profit in hour. Please explain sir.. I am awaiting your response… Thanking you sir…
Easy way of booking pips
Looking back at some charts using this I think 50 pips is too high, I agree with the comment by Gavin Lowry to set a lower TP, 20 to 30 pips give a much greater win loss ratio
So you wait for the 1st hour to close to get your range. Then do you wait another hour to confirm the breakout above or below?
It is okay to set the high and low by looking in the daily chart?
People in the comments are making things much more complicated than they have to be. Learn liquidity
worst strategy 🙁
Trading various currency pairs could be complicated at time that's why I always structure my trade under Joe's guidance, using his easy trade method I have always come out on top.
This strategy is the most simple for intraday…i already backtest with Gold but based on HL first 2hour daily open…TP 60 pips…from july-oct 2019…around 64%losing trade..its better with martiangle position sizing…it will return 5%per month
Old school strategy that still work it profetable in s&p
I wonder if this works with GBP/JPY? ???
Best "London Breakout" I have heard. Thank you.
50pips that's huge, like that
So what is “the variation of the strategy which is very successful ? “ minutes 3 of the video, please replay
The Forex market presents a gamut of opportunity for investors. However, in order to be successful, a currency trader must understand the basics behind currency movements.
This is a very unique approach! You have creative strategies!
Is day trading really profitable and how easy is it to implement it in trades?
Using ATR instead of just 50 pips regardless pair makes tons more sense.
it doesnt work in 2019 since rarely get atr over 50pips anyway maybe on exotics or news daysor attacking saudi oil blasted by iran etc ….
Thanks for the ideas and thanks for sharing.
Simple and well explained. Not ground breaking but something to add to the Arsenal, thanks for sharing.
While I broadly agree with the people saying that this ought to be traded with the direction of the prevailing trend (using the daily), it also works if there are conditions in place for a pullback or trend reversal on opening. Monday morning is good for this on the major pairs as they often want to move back closer to the EMA, either up/down and there is often sufficient momentum to get them there. Watch for bullish/bearish engulfing candles and clear indicators there will be a reversal in the lead up to the opening hour. I also like the idea of validation using the 15min to stay in the trade, or get out.
i dont understand it, so u set the high and low, then long or short? how do u know
This strategy is the most simple and profitable strategy I have ever used trading. I'm at 100% trading binary options on Nadex. I trade the US and Asian opening sessions. Only about two hours at each session, and I'm done for the day.
Honestly your videos are always informative with good contents always, keep up the good work brother. Meanwhile The trading market is constantly evolving with new features, many trading opportunities and financial swings with sudden surprises around every corner.The best thing is to stay in shape and more important, don’t let anything catch you on the wrong foot and never get too emotional.
Good entry stratagy on 1 hour chart at open, once in the trade use the 15 minute chart for clarification. If the lower time frames are starting to lose the uptrend then you can exit earlier or scale out to protect your profits.Personally i use the 15min with day trades. When you start getting overbought or oversold and losing the higher high or lower low time to bail.
How far does the candle have to close above or below the 8.00 o clock candle?
Hi man, thank you for the video! What are your thougths on an automatic EA about this strategy? Plausible? Do you know one already? Cheers!
Can this be converted to 50 pip per trade instead of 50 pip per day?
In the US session opening which pair would tou advise Trading?
Guys can someone help me out with this . So I understand the strategy itself but the fact he’s using a 1hr chart does that mean that you have to trade off the 1hr chart?
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this makes it really easy to trade. and the RR is really good because before opening sessions markets are usually in a range so my stop losses are tight and the direction is very easy to decide as its usually followed by a really strong candle. Thanks for the tips!
a little bit confused. market opens 8am
8am-9am – Candle A9am -10am – Candle B
which candle's high/low should I look at?
Going to try this as a supplementry strategy and see how it compares with my current one.
Just noticed your online course. Not a bad price. Think I might give it a try.
Great Strategy! I see it is working only for GBP pairs. Does is actually work with other currencies?
Backtested for the month of March 2019 GBPUSD H1, ~50% win (11 losses 10 wins)
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