You can use this strategy on any time frame and market (forex, stocks, gold, indices, etc.). It works just as well for day trading forex on a 15-minute chart or indices on a 5-minute chart as it does for swing trading penny stocks on a 1-hour or 4-hour chart.
Watch the video above to learn the simple step by step process I follow to find the best entry, stop loss and take profit levels to trade this strategy successfully.
Here's what we cover in the video:
1. Best entry, take profit and stop loss levels.
2. Smart strategy for entries in trend change.
3. How to use Fibonacci levels the right way.
4. How to get higher risk reward ratio.
5. Support becomes resistance strategy.
6. Profitable trailing stop loss technique.
At (2:15) and (5:58) in the video I explain a special strategy on how you can use the signals to get even better risk reward ratio trades.
Here's how it works: