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Learn how to trade Forex, Bitcoin & Gold.
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[QUOTE="tradewithlogic, post: 145305, member: 53268"] Below is a trade I took on the Aussie dollar. Basically we got a lower low on the 4 hourly chart, which means for our next leg we are expecting a lower high. With that in mine we use support/resistance, fibs, candlestick analysis and patterns to identify an entry to go short. In the below example we have a minor support/resistance level that is also a psychological level, which means it's a round number, the 0.79 level to be exact. We have an ABCD completion around this area, which adds confluence and confidence to the trade. We then have a strong shooting star candle. This is an aggressive entry so I only take half a trade. As we are is a small upward channel I will take the second half when I see a clean breakout. We then get a clean break and we start to see bearish momentum heading into the European session, so we enter the second half of the trade. We then be patience and let the money come to us. [ATTACH=full]12527[/ATTACH] [ATTACH=full]12528[/ATTACH] [ATTACH=full]12529[/ATTACH] [/QUOTE]
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