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  • Comfirmations of Forex Trading

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    Thatipamula Rsmesh
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    The document discusses various concepts for confirming forex trading including analyzing different time frames, market conditions, trends, price action patterns, support and resistance levels, indicators, fundamentals, market sentiment, pivot points, and strategies for trend trading. Key aspects include identifying high probability trades with a 50% win rate and 1:2 risk to reward, taking 3 trades per day for consistency, and focusing on trending markets.

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    COMFIRMATIONS OF FOREX TRADING

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    The document discusses various concepts for confirming forex trading including analyzing different time frames, market conditions, trends, price action patterns, support and resistance levels, indicators, fundamentals, market sentiment, pivot points, and strategies for trend trading. Key aspects include identifying high probability trades with a 50% win rate and 1:2 risk to reward, taking 3 trades per day for consistency, and focusing on trending markets.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    25 views6 pages

    Comfirmations of Forex Trading

    Uploaded by

    Thatipamula Rsmesh
    The document discusses various concepts for confirming forex trading including analyzing different time frames, market conditions, trends, price action patterns, support and resistance levels, indicators, fundamentals, market sentiment, pivot points, and strategies for trend trading. Key aspects include identifying high probability trades with a 50% win rate and 1:2 risk to reward, taking 3 trades per day for consistency, and focusing on trending markets.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 6

    COMFIRMATIONS OF FOREX TRADING

    =)Time Frames:-
    *HOUR1,HOUR4,DAILY,WEEKLY.

    =)High Probability Trades.


    *50% Win rate with Risk : Reward = 1:2 High Probability.

    *Taking 3 Trades Per Day for Consistency.

    *Think about Risk later Reward.

    =)Market Conditions:-
    *Trending Market.

    *Consolidation Market.

    *Range Market.

    *Volatile Market.

    =)Market Trends:-
    *Up trend.

    *Mid Range. (Sideways)

    *Down trend.

    =)Price Action:-
    *Thunder Pattern.

    *Retracement.

    *Pullbacks.

    *Gap up.

    *Gap down.

    =)Support & Resistance:- (Breakouts).


    *Trend Lines.
    *Channels. (Ascending & Descending)

    *Support & Resistance Lines.

    * Supply & Demand Zones.

    *Resistance Becomes Support & Support Becomes Resistance.

    *Price Holding Breakout.

    *Round Numbers Act as Support/Resistance.

    *Streak of Red or Green Candles.

    *CPR Virgin act as Sup/Res.

    =)CHART PATTERNS:-
    *Triangles.

    -Symetrical Triangle.

    -Ascending Triangle.

    -Descending Triangle.

    *Rising Wedges.

    *Flag Pattern.

    *Cup & Handle Pattern.

    *Big Candle Small Hold.

    =)Signal Spotting:- (Probability of Trade).


    *Bad - (Low Probability).

    *Mediocre – (Medium Probability).

    *Good – (High Probability).

    =)Candle Sticks:-
    *Hammer in Downtrend.

    *Inverted Hammer in Uptrend.

    *Spinning Tops in Uptrend or Downtrend.

    *Doji’s in any Trend.


    *Inside Bar in Uptrend or Downtrend.

    *Bullish & Bearish Engulfing Uptrend or Downtrend.

    *Bullish & Bearish Harami Uptrend or Downtrend.

    =)Indicators:-

    *Relative Strength Index.(RSI)

    *Fibonacci Retracement.

    *Moving Average Convergence Divergence.(MACD)

    *Bollinger Bands.

    *Stochastics.

    *Moving Averages of 10,20,30,50,100,150,200 SMA & EMA.

    =)Fundamental Analysis:-
    *Currency News.

    *Impacts News.

    -Low Impact.

    -Medium Impact.

    -High Impact.

    *Currency Regimes.

    =)Market Sentiment.

    *Among Buyers and Sellers.

    *Sentiment Websites.

    *Client Sentiment & Indicators.

    *Currency Map.

    *WWW.MYFXBOOK.COM

    =)Time Frames.

    *see Support/Resistance in Higher Time Frame.

    *Take Entry/Exit in Lower Time Frame.


    =)Calendars.

    *www.Forex Factory.com

    *www.Tradingview.com

    =)Choosing Market Sessions before Entry.


    *Tokyo(Japan), London (UK), New York (USA), Sydney(Australia).

    *forex Session Indicators.

    *Indicator in Trading View: Sessions on Chart by Aurocks AIF.

    =)Currency Strength Meter.

    *Website:Livecharts.co.uk

    *Indicator : ROC

    =)Pivot Levels.

    *Pivot Points Fibonacci.

    *CPR Virgin.

    *Fibonacci.

    =)Big Players play:-

    *Supply/Demand Zones.

    *Pivot Points & CPR.

    *Moving Averages of 20sma,50sma,200sma.

    *Power full Candlesticks – Elephant Bar (Marubozu), Dragon fly Doji, Hammers.

    =)Trade Duration:-

    *8 – 16 minutes is 2min Time frame.

    *20 – 45 minutes is 5min time frame.

    =)Powerful Breakouts:-

    *Buying

    *Selling
    *Less Time Price Holding Elephant Bar Breakout.

    *Base Violation Breakout.

    *Price action Breakout.

    *Breakout Failure Candles.


    =)Trend Trading:-

    *Buy above 200 Simple Moving Average with 20 SMA.

    *Sell Below 200 Simple Moving Average with 20 SMA.

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