FOREX PRO SIGNALS

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Are you guys ready for the signal of the day?

We would stop here for today Our activity this morning as soon as market opens would be to take USDJPY  4 hour line chart and draw their Support and resistance points Have a lovely new week and a profitable one🤝

It's a very important strategy that is linked to many Technical Analysis tools So as we practice it and trade with them,  u would understand fully how they work.

For stop-loss When selling, put your SL few pips above the Support When buying Put your SL few pips below the Resistance This is what a break out looks like That's the strategy we utilise when trading Support and Resistance

So in Bounce method We Buy at Support and Sell at Resistance After confirming that they held The 2nd method used in Trading Support and Resistance is the BREAKOUT Even if the Support or Resistance did not hold that does not mean u should stay out of a profitable trade U should trade the opposite which is the Breakout Whenever a Support or Resistance is broken (especially those that has been holding for long) The breakout is always massive

How do we trade Breakouts We use same Candlestick method Let's take Resistance as the first example To confirm that a Resistance zone has broken U wait for at least 2 candles to break that resistance in an upward (bullish)  direction Then you now Buy the pair Why are we always waiting for 2 candles to close above these zones We don't want fake outs We want to be actually sure that they are broken before we Buy or sell So in the reverse scenario which is Support zones We sell when a Support zone is broken However we have to be sure that it's broken before we enter So we wait for at least 2 candles to Close below that Support line before we sell Because we want to be confident in the trade before we enter

Anyway, Let's move on So you wait for the. candle to close above Support to start getting ready Then wait for another candle to close in a Bullish direction before u pull the Buy trigger Hence we are waiting for 2 candles Like I said, the kind of candle that formed around the Support zone would give you a clue to what would likely happen next Imagine seeing a Hammer Candle, Closing right smack on the Support line,  it's a signal that a Reversal is imminent So that is how you trade the bounce