Daily candle strategy

Daily candle strategy

Forex trading, much like any form of market speculation will always come with an element of risk. Being able to manage that risk effectively will be the difference between success and failure.

How To Trade Market Reversals Using Weekly And Daily Candle?

One more thing please, because I wanna to falow this type of setup ( like example in first chart ), does the candle must reach middle band , or do you have some rule if not tuch middle band you are in if ?

Daily Candle Cross — Strategy by SeaSide420 — TradingView

Novice traders always ask what time frame is the best to trade. Most platforms support different time frames from 6min to monthly. Even some of them support exotic time frames like 65min or 7hrs. I have already published an article about the time frame that I follow  here. I recommend you to read it carefully. In this article I am explaining more about my favorite time frames. My goal is to convince you to stop using the short time frames like 6min, 5min, and even 65min and 6hr, because it will result in nothing but loss.

How end of day trading can change your life.

This is where end of day trading really shines, because you 8767 re only required to interact with the markets for very short periods of time each day I am talking as little as 65-75 minutes.

Daily close trading strategy - Free Forex Trading Systems

Hi Pete, No, I don 8767 t check the news. The news result is reflected on the price charts. The strong setups we see on the charts are created by the news.

I 8767 ve seen troubled traders who have let the markets get to them. It 8767 s not hard to tell something is eating away at them from inside it impacts their social life and they sometimes become a very negative person to be around.

hi all good teachers! kamel if u don 8767 t mind, i would like to learn more about your simple candlestick style which there is no need to care about resistance levels even. i read your posts everyday at least one time and checking charts again, of course after 8767 s analysis. so DBB and that technical things are ok but like u i believe to candlestick more than any sign on foreign exchange. so just can u write more articles to make your rules more clear like which forms you in or not please? we are careful about middle band but you trade sometimes in middle band out (upper or lower shadow), sometimes when the candlestick just about to touch to middle band and sometimes no touching to band even (just looking to shadows like in this article) sorry it was a long question but i hope i could explain it. thank u again for all.

An unbelievably large percentage of traders with all levels of experience, even mores so the newbies   spend far too much time glued to chart, hypnotized by the rise and fall of the candlesticks.

End of day trading is not about jumping into the markets with a flame thrower, torching every signal you see. It is about identifying the higher priority, 8775 A+ signals 8776 , and capitalizing on them with a single swift and decisive move.

I usually take one position. If the signal is really strong, I close half of it at my first target which is usually the same size as my stop loss. I leave the other half open to make more money. But I rarely do this.

We noticed that if we have a bullish engulfing pattern and Close 7 price is near to High 7 price than results are much better.
And of course, if we have a bearish engulfing pattern and Close 7 price is near to Low 7 price than results are much better too.
Close 7 price needs to be above SMA 55 for a bullish trend and below SMA 55 for bearish trend on the daily chart.

Candlestick and Bollinger Bands are all you need to have on your charts. Sometimes just a candlestick can tell you what direction the market will take 8775 at least 8776 for the next day (if not for the next several days). And sometimes a strong candlestick signal on the daily chart indicates that the market will be bullish or bearish at least for the next a few or few days.

Hey Kamel!
In both of your articles 8775 I Trade the Daily Chart, But I Am a Day Trader 8776 + 8775 Daily Candlesticks and Bollinger Middle Band 8776 you showed examples of a trending market.
would it be ok to show examples and maybe a few words on how to approach trading in a ranging market, it will be great.
Thank you and very much.
Nir

I lost more money trying to trade short time frames than anything else. I’m not saying that it’s impossible to trade intraday and make money as that sort of statement would be absurd but I’m just pointing out it’s not for me.

I use this on the major pairs and the eur crosses with the majors such as eurgbp, eurjpy, eurcad and euraud. Why? Liquidity. The higher the liquidity the more price will respect support and resistance levels.

By implementing this kind of “set and forget” approach with a buy stop order   you don 8767 t have to sit it in front of the screen and wait for the breakout to occur. The buy stop order will automatically trigger you in if one occurs.

Hi,
I inspire your articles about currency trading, Whenever I want to read something about Forex I always find first that specific article from your website. How can I get proper coaching from you. I could not find the exact link to take Forex classes from your website.

Another method is to place a 8 period simple moving average of the typical price (the daily pivot point) on the chart. Close the trade when price CLOSES above or below that MA (dependant on the direction).

The other area marked with the red down thumb is a good example of unclear price action. On first look and with the benefit of hindsight you can see that the price has reversed and gone back in the direction of the main trend BUT there was no CLEAR price action giving you an idea that it was MORE THAN LIKELY going to go up. This is a good trade to leave well alone.

Leave a comment