Pro Trading Strategy
|Learn how to use the Pro Trading Strategy. Read the article and watch the video tutorial to trade this strategy.
Understanding Pro Trading Strategy
Once you get an exhaustion at a pivot line at the opening of the next candle you can enter - in the direction of the body of the exhaustion candle. So if the exhaustion candle tried to go down, but failed and came up (so it left a tail), you enter long (for a buy).
Let's make a list of rules here:
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The size of the candle must be bigger than the previous candle
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You have to be in a trend
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The tail of the candle has to stick out and it has to be more than 60% of the body
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The body of the candle has to be within the highest and lowest price of the previous candle
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It has to be bouncing off of a pivot (check 3 days worth of chart data)
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The correlating pairs from the currency group need to have a similar pattern
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So when you see an exhaustion candle like this you enter on the opening of the next candle
The exit zone for the pro trading strategy will be determined by the next pivot line using data from the last 3 days.
#UrbanForex - Be conscious of your trading!
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