The ‘Daily High Low’ Based Forex Trading Strategy,Recent Posts
AdOpera 24 HS Al Día / 5 Días. Operar Con Apalancamiento Implica Un Alto Riesgo De Pérdida. Opera En Más De Mercados,Incluidos Forex, Acciones, Criptos, Índices y Commodities AdWe Checked All the Forex Brokers. See The Results & Start Trading Now! We Compare The Leading Brokers In The Industry. Choose The Best & Start TradingRead Before You Deposit · Experts Tips · Only Fully Regulated · Pros & Cons AdMaterias primas, índices y bonos - Cuenta demo gratis de $, The yesterdays high/low strategy is designed to enter trades when the market has pushed outside the ranges traded on the previous day. This is particularly effective when the previous day pushed in the same direction as the current day is trading, meaning we are having at least 2 days of push in one direction AdOpera con cualquier dispositivo. Operar conlleva riesgos. Abre una Cuenta Demo hoy mismo y opera en los Mercados Financieros sin blogger.comader 4 para Mac · Atención al cliente · Oferta Bonificaciónes · Su bróker confiable ... read more
If you can implement the trading strategy well as per the rule mentioned below, you can make a decent profit from it in any currency pair.
In this image above, the price has made a new higher high once it breaks above the candle high in the market area. However, there is some market condition where price moves to a range and violates the movement above or below the candle high. If you are trading the breakout of a daily candlestick that is larger than the earlier candlesticks, you might be caught by the mean reversion of the price.
In the forex market, it is often difficult to predict how long a trend could stay. The basic concept of making a good profit from the forex market is to buy from low and sell from high. Therefore, any bullish breakout from a significant support level in a daily timeframe would indicate a reliable daily breakout strategy compared to a trade setup from the middle of a trend. This trading strategy is simple as you can make most of the trading decision a day before the movement is expected.
The main of this trading strategy is to place two pending orders above or below the yesterday candle. We should consider the daily timeframe to determine the high and low prices. Later on, move to the lower timeframe usually H4 to enter the trade.
However, for new traders, it is recommended to stick to the daily timeframe. This trading strategy works well in all currency pairs, including EURUSD, GBPUSD, USDJPY, or AUDUSD. However, sticking to the major and minor currency pairs would provide a better trading result. Moreover, you should avoid exotic pairs as there is a risk of the false move by hitting the high or low and reverse back. In this trading strategy, the challenge is to avoid correction and choppy market.
In that case, you should read the price action to determine the possible movement by measuring the price momentum. Moreover, to get the maximum benefit from this trading strategy, follow strong money management rules. Save my name, email, and website in this browser for the next time I comment.
About Us Advertise With Us Contact Us. Forex Academy. RELATED ARTICLES MORE FROM AUTHOR. Trading Reversals Using Bullish Reversal Candlestick Patterns. High-Low Yesterday Trading System and Strategy — This technique can be used for any market that has a decent daily range. A stop-loss order is recommended of course and in the case of long trades, we should usually set it below the most recent low.
Respectively, the stop loss order for short trades should be set above the most recent high. Your email address will not be published. MetaTrader Trading Indicator. BUY Rules. High Profits FXPASS Channels Breakout System For Independent Forex Traders Advanced Forex Trading Strategy of PSAR-Stochastic Oscillator How Does Short Selling Work Best TOP 5 GBP-JPY Forex Trading System and Indicators.
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The daily high low based forex trading strategy is a breakout trading strategy from the high and low prices in the daily timeframe. In forex trading, the daily timeframe is crucial as most of the significant market players use this time table in their trading.
As a result, any trading strategy in the daily time frame provides better trading results compared to the lower time frame. On the other hand, when the price creates a rally by breaking the high and low price of the daily timeframe will indicate a significant market momentum. If you can avoid the range market, the high low based strategy can provide a reliable trading result. If you can implement the trading strategy well as per the rule mentioned below, you can make a decent profit from it in any currency pair.
In this image above, the price has made a new higher high once it breaks above the candle high in the market area. However, there is some market condition where price moves to a range and violates the movement above or below the candle high. If you are trading the breakout of a daily candlestick that is larger than the earlier candlesticks, you might be caught by the mean reversion of the price. In the forex market, it is often difficult to predict how long a trend could stay. The basic concept of making a good profit from the forex market is to buy from low and sell from high.
Therefore, any bullish breakout from a significant support level in a daily timeframe would indicate a reliable daily breakout strategy compared to a trade setup from the middle of a trend. This trading strategy is simple as you can make most of the trading decision a day before the movement is expected. The main of this trading strategy is to place two pending orders above or below the yesterday candle. We should consider the daily timeframe to determine the high and low prices.
Later on, move to the lower timeframe usually H4 to enter the trade. However, for new traders, it is recommended to stick to the daily timeframe.
This trading strategy works well in all currency pairs, including EURUSD, GBPUSD, USDJPY, or AUDUSD. However, sticking to the major and minor currency pairs would provide a better trading result.
Moreover, you should avoid exotic pairs as there is a risk of the false move by hitting the high or low and reverse back. In this trading strategy, the challenge is to avoid correction and choppy market. In that case, you should read the price action to determine the possible movement by measuring the price momentum. Moreover, to get the maximum benefit from this trading strategy, follow strong money management rules. Save my name, email, and website in this browser for the next time I comment.
About Us Advertise With Us Contact Us. Forex Academy. RELATED ARTICLES MORE FROM AUTHOR. Trading Reversals Using Bullish Reversal Candlestick Patterns.
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AdOpera con cualquier dispositivo. Operar conlleva riesgos. Abre una Cuenta Demo hoy mismo y opera en los Mercados Financieros sin blogger.comader 4 para Mac · Atención al cliente · Oferta Bonificaciónes · Su bróker confiable AdMaterias primas, índices y bonos - Cuenta demo gratis de $, The yesterdays high/low strategy is designed to enter trades when the market has pushed outside the ranges traded on the previous day. This is particularly effective when the previous day pushed in the same direction as the current day is trading, meaning we are having at least 2 days of push in one direction AdOpera 24 HS Al Día / 5 Días. Operar Con Apalancamiento Implica Un Alto Riesgo De Pérdida. Opera En Más De Mercados,Incluidos Forex, Acciones, Criptos, Índices y Commodities AdWe Checked All the Forex Brokers. See The Results & Start Trading Now! We Compare The Leading Brokers In The Industry. Choose The Best & Start TradingRead Before You Deposit · Experts Tips · Only Fully Regulated · Pros & Cons ... read more
If you can avoid the range market, the high low based strategy can provide a reliable trading result. Trading NOTE. You have entered an incorrect email address! POPULAR CATEGORY Forex Market Analysis Forex Brokers Forex Service Review Crypto Market Analysis Forex Signals Forex Cryptocurrencies If you are trading the breakout of a daily candlestick that is larger than the earlier candlesticks, you might be caught by the mean reversion of the price. Please enter your name here.
Please enter your comment! Please enter your name here. Trading Reversals Using Bullish Reversal Candlestick Patterns. Leave a Reply Cancel reply Your email address will not be published. Trading Reversals Using Bullish Reversal Candlestick Patterns 12 June,
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