For all you new traders that may be struggling crossing ove…
For all you new traders that may be struggling crossing over to Forex let me give you a tip that worked for me all those years ago.
Choose 5 pairs, that’s it. Study them. look for patterns that repeat, master the moves and test your trades. 1/3
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Don’t get caught up learning exact patterns and levels, just understand markets move in 3 and 5 waves.
Impulse - correction - impulse.
We always want to catch the second impulse so find where you are in the correction and when it’s about to end. 3/3
Measure how far the impulses move on the 1h and above, then the corrections, you will start to see similarity’s. Don’t be tempted to look at other pairs, work on your five. Give yourself six months and you will start to “feel” the flow of the market 2/3
*bonus tip.
The 5 pairs I started with a mastered for over a year are.
USDCAD, USDCHF - Slow movers
EURUSD - consistent
GBPUSD - profit maker
EURJPY - patterns easy to spot.
Also NZDUSD if you need to add one more.
Indicator - MACD
That’s it,