The trend is up. We have a Strong trend - shown by all the moving average lines running parallel to each other. Wait for prices to retrace or correct.
What price pattern is formed? Yes, its a flag. At the right time when we are sure prices have broken up, open a long trade.
Easy for 50 pips profit. Ha Ha
We see an uptrend. Prices retrace to take a breather. they formed a symmetrical triangle. We wait patiently for the price to break out on the upside. Enter long trade and wait for profits.
So far 50 pips in profit. Ha Ha
Flags are short-term continuation patterns and are among the most reliable of all continuation patterns, they are formed when there is a sharp price movement followed by a consolidation phase (sideways action), thereafter the previous up or down trend is expected to resume.
Easy profit of 70 pips
Chart 1
Reliable pin bars. Watchout for them. Trade with the trend. These are high probability trades that makes you money. They are simple but needs patience.
Chart 2
The 1-2-3 trade running into profit now. Trading with the trend gives us a high probability of winning. Ride with the trend.
A 1-2-3 trade here. Note the numbers on the chart. Enter when prices breakout of the red line which is where 2 is. This is a trend continuation trade.
We trade with the trend.
Pin bars are very reliable. Here we also see the 100EMA providing the support. Prices reverse and we nter a long trade. In profits now.
The trend is up. You can see the higher highs and higher lows. The green 200EMA is sloping 45 degrees. We are in business. Be patient and wait for breakout trades.
How? Wait for prices to retrace. That's important. They all need to retrace to regain energy before the next up surge.
After prices retrace wait for a long candle. The close of this long candle must be higher than the high of the previous 2 candles. This is when it show signs of breaking out of the retracement. Wait patiently.
When the above critetion happens, open a long trade after the close of the breakout candle, ie next candle.
Place stop loss at the swing low and wait for prices to continue the uptrend. Close trade if price hit the stop loss level. Otherwise wait and take profit when the red and green moving averages cross.
Happy trading
Follow the white dotted vertical line which is the start of trading day. Wait for 4 candles, ie 4 hours later. After that draw a channel between the highest and lowest of the bodies of the candles.
Wait patiently for a breakout of prices out of the channel - purple color lines.
The first trade was a breakout for a long trade. Price went up but did not have the power to move higher. It retraces. No worries, just close the trade for a break even.
Wait again for another breakout. This time is a short trade. After the breakout candle closed, open a short trade at the next candle. Wait for price to go further down and at a good point, close the trade with a profit of more than 40 pips.
Enough for the day.
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