the 5-hours frame: 8 am to 1 pm GMT (London time). That way we could see if the possible support and resistance that we have calculated are approximately the same as the ones here, or if they are totally different.
Trade by using Divergence Trading strategy (Regular and Hidden). Instead of going to your bank and maybe getting 2 annual interest (200 per annum you could invest your money in Forex and go Carry Trading on a chosen pair. Make sure you are familiar with risk management, and learn the best-practice risk and trade management for successful Forex and CFD trades.
A breakout can occur on both sides, therefore we activate an OCO action (One Cancel the Other). Assuming an uptrend, it will always end higher than wave #1s top; Wave #2 and wave #4 usually end around Fibonacci ratios Pay attention to all 8 stages of the Elliot Wave in the following chart: Will the pattern repeat itself again? If ADR shows that a certain price range during the past 20 days has been 120 pips a day- unless something dramatic happened today, we can safely assume that it would be todays approximate range, and tomorrow, and so on, until some major fundamental event. Use an appropriate indicator. Chapter 9 Winning Combinations for Trading Strategies. Swing Trade A short-term trading strategy. Well, our suspicions were verified!
Without further ado, let's dive right in and see what one of the most popular Forex scalping strategies the 1-minute Forex scalping strategy has to offer. However, you should be aware that this strategy will demand a certain amount of time and concentration. Psychologically, traders usually react similarly to each wave. You can run a back-test to see what im talking st of the time, price breaks through an important support/resistance zone at its 3rd it a pivot zone or even a trend line. Experienced traders usually open more than one position simultaneously (trade on 2 or more pairs at the same time).