Price action and chart reading in Forex Part 2
(I do not own the video. The description below are from the description section of the video. So pronoun such as 'we' are referring to the original context of the video)
In this series of forex webinar video we will continue to go through price action analysis in this webinar.
As it was mentioned in the previous webinar, the shorter your timeframe is, the more information you will have to filter. That's why, most popular "price action candlestick patterns" don't work as expected in intraday trading. But it can be used on higher timeframes starting from H4.
Having identified supposed current market condition, you will have to choose way to response (entry, exit, position management). On smaller timeframes it can be a certain event (breakout of a pre-determined level or area), on higher timeframes it has to be conventional candlestick or bar pattern, occuring near specific trade location.
We will see how similar trades can be executed in perspective of different timeframes, and how timeframes can be combined for the sake of more efficiency and profitability.
https://www.youtube.com/watch?v=gXJgc6bzT0E
(Back to tutorial list (https://globaleasyforex.com/index.php?topic=165.0))
Good for trading forex
This is nicely expressed! .