8. Taking things together.

  1. Start by finding the right support and resistance lines at the higher time frame. do not forget the daily time frame so that you can also see well the market is moving. From the daily time frame you go to the h4 and there you can mark your lines. For this you preferably use the line chart so that you have a good overview. (I would advise you to draw these lines on the h1 or h4 charts).
  2. You go back to the candlestickcharts and look carefully if your lines are correct and if necessary adjust them a little.
  3. Now we move on to the support and resistance zones, which we prefer to draw on the indecision candle or on a clear wick.
  4. Now that we have mapped everything out, we will look at where a possible entry can be found. (A Buy Setup or a Sell Setup).
  5. Now we just have to wait until the price is where we see a possible entry.
  6. We take an entry after a clear rejection in the zone or a breakout / retest in the zone. Be patient and wait for the right moment. Otherwise it can still go wrong and that would be a shame!
  7. Once you have taken a good entry, set a good stop loss. We have also discussed this in the previous lessons, so you should succeed.
  8. Stick to your plan if you want 10 pips, take those 10 pips and get out of it, you’ve already taken your share of the market. If you want 20, grab your 20 and get out. If you get too greedy, this can easily go wrong. So make a clear plan for every trade !!!!
  9. Don’t forget to check the news before you make an entry. You can see this on www.forexfactory.com, for example.
  10. Is it still going wrong? Analyze your trade afterwards. Where did it go wrong? Often you can see very well where you went wrong. Remember even the best traders sometimes make stupid mistakes we are just people. But make sure you remove as many mistakes as possible! So keep looking back on every trade, good or bad, so that you only get better with time.

Good luck you can do it!

Summary of all lessons in this video.

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