Trade example 1 of 2023/08/10
Today's trades and the currency pairs chosen
It's around 4:30 PM.
Which currency pairs were chosen?
EUR/JPY has the largest values on both the 1-hour and 5-minute charts, indicating a trend has formed.
The chart above is the 1-minute chart. (The recommendation is to use 5 minutes or longer, but when entering, we look more closely, so we use the 1-minute chart.)
Next is the 1-hour chart.
〇 Trading steps
First, look at the 1-hour or 4-hour chart. (The reference is that the 1-hour chart is recommended.)
Today is Thursday, and the market will close tomorrow.
At the start of the week,check and seewhat state the currency pairs are inin.
① Check the state of currency pairs at the beginning of the week.
② When trading on each day of the week, check the 4-hour and 1-hour charts, identify the currency pairs with larger values, and confirm on the chart.
③ View the larger-valued ones from the top in order.
④ Choose a currency pair whose sub-chart lines form a green line and a white line crossing from near the bottom and rising. (Do not choose currencies that are near the top or approaching the ceiling, as they will soon stall.)
⑤ After confirming, look for the optimal entry timing on the 1-minute chart.
⑥ Then, if day trading or scalping, confirm on the 5-minute or 15-minute chart and take profits.
⑦ If the sub-chart lines are widely spaced, the trend momentum is strong, so keep the position as is.
⑧ If taking partial profits, look at the lower-timeframes (5-minute, 1-minute). (If swinging, keep as is, but if the gap between sub-chart lines narrows, it indicates the trend is nearing its end, so it is better to take profits somewhere.)
⑨ When taking profits, again check the lower-timeframes (5-minute, 1-minute) and take partial profits; if the distance between sub-chart lines is wide, reopen the position after reviewing the lower-timeframes.
※ Important
When the sub-chart lines cross or are about to cross, prepare to enter.
Crossing of the sub-chart lines is crucial (if aiming to capture precisely, etc.).
Be sure to confirm the line cross before taking a position.
If the above conditions are not met, do not trade.
You will lose!
This signal product requires some discretionary skill, so even if the signal itself or the line drawing is crude, if you follow the rules you can surely win!!
FX trading mindset is important.
If you do not follow the rules, you will surely lose.
That is all.
