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Buy an Sell Zones

Buy an Sell Zones

You start by identifying the trendline.

If the candles are above the trendline, you are in a buy zone. If the candles are below the trendline you are in the sell zone.

While you are in the buy zone, you will want to enter long (bullish) when you see a low formed and a good bullish candlestick formation (morning star, engulfing bullish, tweezer bottom, piercing line).

 While you are in the sell zone, you will want to enter short (bearish) when you see a high formed and a good bearish candlestick formation (evening star, engulfing bearish, tweezer top, dark cloud).

Place your stop 15 pips above the high (going short) or 10 pips below the low (going long). Place your limit based on the fibs or support/resistance.
I am really grateful to have mentors who have gone over this with me many times. Each time they do, the concept becomes more and more clear in my mind. My mentors are Market Traders, http://www.markettraders.com/landings/forexIQ/forexIQ.aspx?id=THEFOREXMOM(Blog), and they have been so great!

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