This is how I escape from locking or hedging. Now I will share some tips with you all. Condition:
1. Do not carry emotions/patience to find the moment of exit from locking.
2. If the locking/hedging is more than 50 pips, it takes up to several times the use of this technique.
* Use TF 1H (Mandatory)
* Use daily pivot indicator (usually get from trade view trading platform)
* Wait for the moment the price touches the S / R 3, where my experience watching my 2-year, if the price has touched the S / R 3 then the price will bounce 30-50 pips before the market decides to continue the trend or even a trend change. We take advantage of the moment.
* Remove valuable hedging profit when the price touches the S / R 3.
* If locking/hedging occurred more than 50 pips, then you have to do a limit order of 25-30 pips in the opposite direction with the Open Position of us who value minus (floating is still open).
Hopefully, this daily pivot indicator can be useful.
* Important Note:
– Within 1 month, the price touches the S / R 3 can occur as much as 2 to 5 times.
– If the scatter is a useful way to friends and other fellow traders.
– If you wish to donate you can send it via Neteller email address at email@example.com
Ultimate Guide East Profit From Forex Market – Profitable Forex Trading Strategy (BUY THE DIP)
Tips and Best Practices
- Combine with Other Indicators: Use pivot points in combination with other technical indicators or price patterns for enhanced confirmation of trading opportunities.
- Adapt to Market Conditions: Be flexible and adjust trading decisions based on real-time market conditions and price action.
- Continuous Observation: Regularly monitor how price interacts with pivot points and their associated support and resistance levels to refine trading strategies.
By incorporating the Daily Pivot Forex Trading Strategy into their trading approach, traders can gain valuable insights into potential price levels and make informed decisions when executing trades. Continuous practice, observation, and adaptation are crucial for effectively leveraging this strategy within the dynamic forex market.