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On the bad side, not getting that many trading opportunities can be a problem for some traders. The most important thing is executing a trade with correct analysis. However, not getting many opportunities can lead to impatience, which can force an inexperienced trader into trading without confirmation.

This can turn…hmm… Ugly. In conclusion , this strategy can work for you if you are willing to put some time practicing your charting skills! However, by mastering a working strategy and sticking to your rules you can at least be sure that the majority of your trades will end in the money. As I advised you in my last post you can speed up the learning process by keeping a diary. Let me know if you have any questions. See you in my next post!

Go to the 15M chart and study the chart. First confirm the trend. If it is an uptrend then you should clearly see higher highs and higher lows. You are better off not trading until a clear trend is observed! When a trend is confirmed we wait for a retracement. The goal is to catch the end of the retracement and get on the trade in the direction of the original trend.