Any automated traders in here ?

Now of course this is my own analysis and how you decide to analyze the markets is upto you. As we we've been talking about. Price bouncing off SUPPORT levels previously and now price is back at SUPPORT again after FALLING pretty hard With the RIGHT price action SETUP we are good to BUY this setup. Forming a nice RING LOW is a entry zone.

As you can see Price has repeatedly HIT resistance And where the current price is at the moment It has formed a HIGH test at resistance Now that is the TYPE of price action we are looking for At KEY levels so we can enter. DAILY time frames are the best.

As I was saying in the previous post about support and resistance levels They are really the bed rock of alot of technical trading setups. In this situation Alot of indicators But really the MAIN ONE the GREEN MOVING average Price is ABOVE that moving average I am looking for BUYS PRICE bounces of SUPPORT Forming good price action. I am entering my buy position.

FOREX is a great way to start trading It can also be a very big PITFALL for traders because they get caught gambling the markets and don't know how to navigate it. You can trade these markets using indicators or Using raw price action The biggest thing I have learnt after all these years are you must have a system you follow. 1. RISK rules and RISK to reward Ratios 2. How to identify your buy and sells 3. When to execute them. Then do it over and over again Simple setup below, price bounce off support is a great setup to start and learn.