Forex Profit Launcher
1. Red sloping line outlined the main trend or major price trend at the moment.
2. Red and blue horizontal lines with arrows marked the last support and resistance levels, recent levels of supply and demand in the past.
3. Similar red and blue line, but without arrows - The following levels of support and resistance, it is projected the following levels of supply and demand.
4. The yellow line is the main line of pivot or median line of support / maintenance: The above is blue resistance line, located below the red line support (§ 3).
5. Between the blue and red lines are gray - The intended point of reversal. Precisely on these lines (paragraphs 3-5) sets targets for further trade.
6. In the upper left corner of the screen is dashboard:
- The underlying trend (Trend Up - Trend Down),
Option 1: a clear and simple choice for beginners.
Step 1. Determine the main trend of the daily chart the currency pair to know the main trends of currency pairs. Obviously, the main trend in the example down (Down Trend) the best option for the couple - for sale.
Step 2. Go to any lower timeframe, which is the same direction of the trend, for example, time.
Step 3. It was only at this point, follow the instructions in the information panel (Entry and StopLoss).
Step 4. Set goals for the lines Pivot (all lines marked above)
Step 5. If StopLoss was too big for your deposit, just go to a smaller timeframe, Say M15 for mini accounts.
Step 6. To preserve profits can use Tralling Stop.
Option 2: another option for beginners
Based on the support and resistance levels, you can also sell short-term on / against the trend. Such a method is more suitable trade currency pairs that a long period of time does not show a clear trend, such as the USDCAD and EURUSD.
In this case, to enter the market with an informative panel recommends the top left of the chart notare used. Entry and exit points are the only levels of support and resistance.
In this case, set to StopLoss 10-15 points above / below the signal level. Please note that trading should only solid lines.
Option 3: for aggressive forex trading
This version uses 3 additional indicators:
1. Bars Indicator:
2. Market Data:
3. Future Line: