Placing support and resistance areas is the most important skill you can master in trading. However, an indecision candle does not indicate that price will reverse with any degree of certainty. Lets break this candle down into a story so you understand why it indicates indecision. This means that my target has to be a minimum.5 times the size of my stop. My Forex trading strategy was built on reversal trading. Below is a candlestick pattern commonly called a spinning top. That is the story of price for this chart. The preceding trend shows us that bears (sellers) have strong control of price and they are pushing price down into a support area. All candlesticks need to be assessed based on the candlesticks around them, and many other factors. Forex Mastermind If you want a more in-depth guide to my Forex trading strategy you can check out Forex Mastermind.
The most common downfall of todays traders is over complicating their strategy. A good Forex trading strategy requires some work! These two techniques make up the core of my price action trading strategy. Three Rules to Support and Resistance There are three key rules you need to keep in mind when placing support and resistance areas. So what does a clean Forex chart look like?
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