Traders limit their exposure & a clear range develops days before a major news release.
1. Trendlines to determine prevailing MKT trend
2. 1 piece of news is generally not enough to reverse a clear trend. Do not trade if current MKT direction opposes prevailing MKT trend or news release.
3. Using 1 min chart, enter a trade when price bounce on EMA, Bollinger or Fibo after retrace OR after break of horizontal line
4. Avoid placing stops
5. Take 1st profit at 10 pips
6. Close trade position when default MACD signals a change in trend or 6 pips from critical lines
Sniper trade?
MKT direction is determined by 3 continuous candles on 1 min chart?
Beat the Forex Dealer by Agustin Silvani
- If the US FOMC (Federal MKT Open Committee) interest rate statement was in line with MKT Xpectations, price will return to pre-announcement level. Use 15min chart, identify stop loss level & go along with dealers.
High Probability Trading by Marcel Link
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