Post by account_disabled on Mar 9, 2024 22:45:27 GMT -5
Step by step to design a trading system Searching for and developing convergence zones in harmonious trading can be a more fun activity if you clearly divide the analysis and direct decision-making functions using different screens. Previously, we already had this experience, when with the help of the indicators of the average directional movement and the average real range the market situation was studied and the most suitable instruments for trading were assigned. Or when the « Two Schaap screens: restoration » system was applied , where the price action pattern was used on the second screen. The same principle can be applied in harmonious negotiation. To begin with, let us remember that the fact that the quotes of a currency pair reached the convergence zone as a target of a certain pattern does not mean anything.
This is just a clue that allows you to look more Mexico Mobile Number List closely for a signal to enter a position. Whether it is obtained in the same time interval or at any other time depends on the decision making. Working on one screen is quite simple, but if you want to optimize the profit and loss ratio, then it makes sense to try two time frames . Therefore, reaching the target according to the « Bat » pattern at 88.6% on the daily chart of USD/CAD allowed the trader to shift attention to the second screen. “Bat” Pattern on the USD CAD Daily Chart LiteFinance: Two Chart Pattern Screens – An Efficient Forex Trading System Litefinance A quick look at the one-hour chart showed that the prerequisites for the reversal were created in the convergence zone.
After concluding the formation of the “ Three Indians ” pattern, consolidation began to emerge, which could well be interpreted as a process of accumulation of long positions by large players. “Three Indians” pattern on the USD/CAD one-hour chart LiteFinance: Two Chart Pattern Screens – An Efficient Forex Trading System | Litefinance A deeper approach to its structure made it possible to identify several known graphical configurations at once. First, the Anti-Turtle and Shark patterns appeared on the screen with the goal of at least 113%. Secondly, the trading range is nothing more than a "shelf", an element of the Splash and Shelf pattern. Anti-Turtle, Shark and Splash and Shelf Patterns on the USD CAD One-Hour Chart.