Hi Everybody,
I would just like to remind all the FOREX traders among you not to forget the longer time frames. We suggest 60min, 240min and 480min for FOREX, as these longer time frames give smoother charts.
A great example is the recent TS3 buy on the GBPUSD on a 240min chart that caught the rally up into the 170 area....
A note for the Advanced Traders among you. When this trade reached the Maximum Wave 3 WPT (purple zone) “and” you were sitting on a +8R Profit what do you think would be the sensible course of action ? Exactly, tighten stops as this move was likely nearing an end. This is exactly what happed with the high unfolding right at the maximum Wave 3 WPT...
Thanks, Steve
I would just like to remind all the FOREX traders among you not to forget the longer time frames. We suggest 60min, 240min and 480min for FOREX, as these longer time frames give smoother charts.
A great example is the recent TS3 buy on the GBPUSD on a 240min chart that caught the rally up into the 170 area....
A note for the Advanced Traders among you. When this trade reached the Maximum Wave 3 WPT (purple zone) “and” you were sitting on a +8R Profit what do you think would be the sensible course of action ? Exactly, tighten stops as this move was likely nearing an end. This is exactly what happed with the high unfolding right at the maximum Wave 3 WPT...
Thanks, Steve
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