show you how trade continuation trading works. I would really appreciate that. RobotFX Heiken Ashi EA settings Take your time to understand what each of these settings does. To give you a bit of context, if you are a forex trader and you are using the metrader4 trading platform, it got only 9 timeframes where your charts can be viewed in which are the 1m, 5min, 15m, 30min, 1hr, 4hr, daily, weekly monthly.
Now, lets go down into the 4hr chart to see what is happening there as well So now you can see how I do my multi-timeframe analysis to get down a timeframe where I execute a trade at a very good price level or entry. In laymans terms, that just means by learning to spot price action patterns you can get clues as to where the price of a market will go next. For the EA to consider closing a trade or a basket of trades at the non-lag moving average signal, the profit must be higher or equal to the MinProfit. When you use price action trading with one other indicator or a combination of indicators which are incorporated into your trading system then thats what I call Not-So-Pure Price Action Trading. And even though you are trading with a setup in the daily chart, for your trade entry, you are actually switching to the smaller timeframe and watching for a sell signal in the 1hr timeframe? Trading using Support and resistance levels. What I do I is for example, say Im watching a symmetrical triangle form in the 4hr charts and I know that soon a breakout will happen. Body bounces are more important than wick bounces. Well, lets find out here in this following example What if you were watching the market and then you saw that price is heading to a resistance level and then you checked your Fibonacci retracement and its almost like a coincidence that the resistance levels. Step 3b: In an uptrend market, click and drag first on the trough up to the peak and release. When you see this in a downtrend or in an area of support, this will be your bullish(buy) signal. All you need to do to trade this strategy is put these two things together.
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