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While finding good trade entries, there are some ideas that can be used in a trading system. The methods and tips discussed in this article are universally applicable to any timeframe and to any market.

 

1) Position

Position means you only accept trades at or near the base price. Such position points are usually supported and resistance, supply/demand, moving average, Fibonacci dimension or swing high/low.

In the long term, only what happens in the price scale can only have a huge impact on your trading because it often increases the quality of the signal and helps you increase your performance.

 

2) Combination of high timing

You do not need to align the two random time frames to find good signals. In most cases, it is very confusing and traders spend a lot of time trying to apply multi-timeframe analysis.

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The point of view is a complete disregard. Most traders zoom in on one period of time and then their charts are completely incorrect. Below you will find a list of many traders who will follow it. It looks like the price is lower and on the right side of the screen, at a support level, ready to bounce higher. Try for zoom out, scale charts differently, try different zoom levels and you will understand your charts in a much different way.

 

3) Know the market status

It is essential for a trader to know that

(1) Under which market conditions your trading method performs best and

(2) Pick the markets that are in such a phase.

 

Right now, you have to catch screenshots of 10 great trades, find similarities and write down trade market conditions and then improve your market selection process.

 

4) Signal size

Long-term chart patterns which consist of multiple candles usually have much more predictive value than single candlestick signals. Look for long-term patterns that can easily include 30-50 candlesticks at a time such as head and shoulder example. Those long-term patterns provide a better context and they can tell you a whole story about what's happening between buyers and sellers, and how the powers are transferred between the two parties. Premium Forex course of ForexTradingForYou is the Perfect solutions for the forex traders.

 

5) Combination Reasons

Trading decisions based on more candles are usually more effective, trading with more relevant factors can improve your trading quality.

 

If you have a trading journal - and a trader should trade without a good journal - the number of collected numbers can affect the accuracy of your signals and your overall win rate.

Of course, the types of collected elements can vary in a trading system, but the underlying concept works for all types of traders.

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      Technical parameters| (18th-22nd) February 2019 
      Possible entry point with critical support and resistance level. But when you trade this level make sure that you are using price action confirmation signal. We have prepared these key support and resistance level based on the Fibonacci retracement levels,100&200 SMA, key swings point and chart patterns formed in the higher time frame. Focus on GBPUSD technical analysis.
       
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      Look for selling opportunity near the critical resistance.
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      Second critical Resistance: 1.181111
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      Second Critical Support:  1.12201
      Overall Sentiment: Slightly bearish
       
      For GBPUSD, AUDUSD, NZUSD, and GBPJPY  analysis
       
      Visit www.forextradingforyou.com
       All the technical parameters are applicable from 18th February to 22nd February 2019. The overall sentiment indicates the prevailing trend of the market. We highly recommend you to trade in favor of the market sentiment (overall sentiment) to reduce the risk exposure in trading. Trade the critical support and resistance level with price action confirmation signal. If you want to get the technical chart analysis along with logical explanations, feel free to contact us.
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      Source: www.forextradingforyou.com

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