The efficiency of any strategy is best evidenced by the deals made with its help. From time to time, we conduct online trading sessions, when all day Forex Academy traders analyze the state of affairs on different instruments and, if conditions arise, open deals. Viewers copy them and earn.
This time we will analyze 2 trades, let's start with XAUUSD:
- daily timeframe - the figure shows the accumulation-distribution zone. It turned out to be quite long, there was a sharp exit from it by a large candlestick with small shadows and testing of the upper border. This indicates the priority of purchases;
- hourly chart - at the time of online trading, the resistance line built on the latest highs was relevant. It can be used, for example, to fix profits on long positions;
- on M5 we see a reluctant downward movement of the chart. There is a reaction to the resistance line from H1, but the XAUUSD chart does not break through the support and does not go down. After the formation of a reversal pattern and fixing the maximum of this pattern, a buy trade is opened. The TP is set at the level of the resistance line, the profit was 228 points with an SL of 128 points.
Now let's move on to the USDCHF pair:
- examining the situation on the daily chart. We select the resistance zone on it, the chart approached it for the third time, tried to break through and failed. This indicates the priority of short positions;
- with the third approach of the USDCHF chart to the selected resistance, an M-shaped structure was formed, that is, the breakout turned out to be false. In early November, there was also a consolidation under this resistance, it was possible to open short positions;
- since there was no instant working off of the pattern, we are looking for opportunities for sales. On November 6, after an unsuccessful growth attempt, the chart drops below the lower border of the resistance zone, there are reasons for selling. The SL for the deal was 29 pips, the take profit is placed in the next zone, where the interests of buyers and sellers collided. TR was 87 points and the deal was worked out 100%.
Consider the same logic when analyzing markets. Review the online trading record once again, adopt the method of finding entry points from our traders - this is a good addition to training.
Signals worked by daily analytics
Although Thursday fell out of work, the 3 entry points still worked well:
- Coffee - in the picture below, the key elements of pattern 5 are highlighted, it is perfectly formed, so everyone should have taken it into work. With an SL of 214 points, the partial fix yielded 214 points for the first TP and 450 points for the second fix. The rest of the deal was closed manually for the reason that they did not reach the TR Safe deposit box set by the rule;
- USDJPY - at night, an M-shaped pattern was obtained with the formation of an imbalance in the resistance zone. SL is only 8 points, and it was possible to earn 33 points on this deal - the profit was fixed according to the take profit from the forecast;
- EURNZD is the same pattern # 5, but this time it worked 50%. They did not reach TP, but when using the Safe rule, they reached the first goal and earned 26 points, with the SL being the same 26 points. After that, the stop should have been at breakeven, where the chart later hooked it.
The patterns in Sniper X are really simple. After a little practice, they begin to literally catch your eye, even without the markup, you will notice them on the chart.