Tuesday’s live New York mic session produced a good short trade on #GBPUSD which provided an excellent example of the effectiveness of the Multi Time Frame Combination set up (“supreme combo” as it is referred to in the live forex trade room) can be. Cable had moved down quite quickly after the New York open before retracing , GBPUSD (cable) back to the “Supreme Combo” level. Kash immediately identified this and sold GBPUSD (shorted it), and although taking a little time to come to fruition, eventually produced +9 on the second half .
If you are just beginning and are keen to learn to trade forex successfully this trade set up is a good example of how, by using multiple time frames, you can achieve a precise point of entry. This particular set up, Multi Time Frame Combination trade, uses three different set up levels, across three different time frames, which correlate at around the same price point to give a signal. When you get multiple time frame levels coinciding like this probability of the trade success increases exponentially.
This type of forex strategy in a goo example the effectiveness of the Tiger Time Lanes forex trading signals software as a tool. It shows the strengths of how you can analyse multiple time frames on a single grid to get accurate entries for your trade.
from WordPress http://ift.tt/1Ei4UOT
Reproduced courtesy of http://ift.tt/1w1eCwW
from Tumblr http://ift.tt/1KpkCeP