losses, place your stop loss above or below the breakout candle, at a minimum. But remember that were referring about the high to low, or the entire range of the candle. If so, you have a potential entry point for a strategy. This indicates a bearish breakout from a key support level. And that is mostly winning. Whether the trend is bearish or bullish, you can identify the levels of support and resistance in your chart. You can find countless strategies on the internet or you can just develop on your own.
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Lets try to apply this in a 4-hour chart. The process requires a trader to track the markets and spot opportunities, which can arise at any time during trading hours. It requires time, skill and discipline. Looking for the best forex trading strategy? Define exactly how you'll control the risk on the trades. 4 Common Active Trading Strategies The Bottom Line.