Taking advantage of all time lows/highs
Take advantage of "all-time high/low" prices.
When considering trading any Forex pair, the first thing to check is whether it has been making highs or lows. If it stays low and M1 SMA-3 points upward, you lock in a long trade of one or more lots and forget about it. If it shows an all-time high and the M1 SMA-3 points downward, you lock in a short trade of one or more lots and forget about it. Track the position until SMA-3 shows a clear trend reversal, then you trade double the open interest in the opposite direction and continue tracking.
See picture below:
The goal is to buy or sell as soon as "Lo" or "Hi" appears on the chart and maintain the same trade direction until either one appears again.
When considering trading any Forex pair, the first thing to check is whether it has been making highs or lows. If it stays low and M1 SMA-3 points upward, you lock in a long trade of one or more lots and forget about it. If it shows an all-time high and the M1 SMA-3 points downward, you lock in a short trade of one or more lots and forget about it. Track the position until SMA-3 shows a clear trend reversal, then you trade double the open interest in the opposite direction and continue tracking.
See picture below:
The goal is to buy or sell as soon as "Lo" or "Hi" appears on the chart and maintain the same trade direction until either one appears again.
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