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- remove all indicators from your chart:clap::clap::clap:, set the chart to h4
, candle sticks
- add a simple moving average with period 3 and shift=3.
this holds some power: You know 3 bars earlier, where to get out! Furthermore, ma does not forecast, but tells you what goes on right now. It shows defined reality(*) within the confines of your current view.
- look at the chart for a while to get familiar. Zoom in mentally and look at every single candle from left to right.
- look how each candle compares to the previous one, where it opened, where the previous bar opened and closed and where the highs and lows have been. That's important.
- at this time start learning to ignore the current candle! Picture, that every red candle looked like a green candle and mentally follow the shadow. Picture that a red candle in the middle started at the opening, was green for some time and then suddenly became red. Other scenarios apply, the closing is what counts.
- next: Picture the above the other way around, when green candles with lower lows looked like a down candle but finally became green. Hmm. Keep wondering.
- now it's time to take a look at the current candle.
On a 4 hour chart you click once every 4 hours at max. Start observing. Just looking. If you feel you have to trade right away for whatever reason, turn off your computer a watch a movie, get some ice cream or do something else.
The current candle is not closed; anything can happen - and usually does.
Trade with your eyes wide open!