Forex Trading Pattern – Part 1
Let's go down to one hour bar. Now when we look at one hour bar, we've got a bigger picture. We've got our major pattern. Everything is still in place.
What Are We? Well, this is where we look for more clues that the market is moving in the direction we expected. Remember based on our planning, we said that the market likely to move down to support if it broke out, and we can see that the market has support down here.
We can also see that the market has support down here. Remember this is a line, we pulled in the direction of weeks ago. So we are already anticipating this. How do we get a battle plan from it? Believe me, I'm still in my twenty minute promise here. What I highlighted in today's video was this triangle pattern here. What I expected was if the market were low a reaction, it would happen down here. It should be that the market was going down, right? If the market moves down, so I have a goal. I have a goal on my video up here and I have a goal down here.
We have also been targets for long-term battle plan down here. So now I've gone all the way from the weekly. I've seen where market participants have made adjustments. I've seen where market participants have taken decisions. I've gone down to the daily, and I can see a larger pattern. I've gone down to a four hour bar. I've seen where the momentum is. Now I'm looking at one hour bar, and I can see more detail, I can see where all these decisions being made and also where I can now enter the market and hopefully make money.
Yes, this particular pattern worked out. It was a very quick win and for anyone still holding in position, they are still in the money they say. This market can make another leg down. If it does, I have a goal right here in the 9860th If it goes even possibly lower, I have a goal down here 9800th Again, it's all in the plan and it is all known in advance.
About the Author
Mac X is recognized as a forex expert trainer, forex trader and author of three best-selling forex trading books and Home Study Courses including “How To Get Filthy Stinking Rich Trading The Forex” book and Home Study, “How To Trade The Harmonics of The Foreign Exchange Markets”. Mac X has trained over 1,300 students in large forex seminars, one-on-one and small groups. Read Mac’s Forex Blog for more Forex Trading information at TheInsiderCode.com.
“Inside Bar forex trading trigger” – Price Action strategies