Wednesday 26 August 2015

Engulfing:Common Signal in the weekly chart

People said, trading forex needs good analysis.
They said it's complicated.
Than you ask yourself, can i become a good forex trader?
My answer is " Yes, you CAN"

In this post, I'll show you that forex trading don't need a complicated analysis. What you need is just to locate the price and find some common pattern as your signal to buy or to sell. This price pattern called by candle stick pattern.

One of the famous candle stick pattern is the Engulfing. This two candle stick pattern must have a different color where the second candle engulf the first candle. Many trader love this pattern so much, so do i.




In my trading strategy, i used weekly time frame to trade. One of the reason is because the ENGULFING pattern. Let me show you:

EURUSD weekly chart

 EURJPY weekly chart

I used EURUSD and EURJPY in this example.
You can see engulfing pattern in the "white box"
It's appears many times. It's appears more than other pattern. That why i said you can become a good trader. You just need to master this pattern (and two other pattern), look for it and locate it in your chart and used proper money management.

Enjoy your trade!

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