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forex candles entry
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Entering the market
1. Watch for the price on the 5 Min timeframe chart;
2. Locate the level the price is currently testing for the first time; identify the price level visually;
3. Wait for the moment of time when the price begins testing this level for the second time; the second
extremum is then formed on the 15 Min timeframe chart; it can be the pin bar/candle, for example;
4. If the momentum of the swing currently being watched for is less than that of the previous one, identify the
extremum bar/candle at the end of current (second) swing; this extremum bar/candle is THE FIRST;
5. Wait for THE following SECOND bar/candle (see Fig. 1);
6. If THE THIRD bar/candle in not against the current long-term trend and confirms the price movement,
enter the market while THE THIRD bar/candle is being formed;
7. If you can see the bar/candle patterns shown in Fig. 2., wait for THE THIRD bar/candle to be definitely
sure for the entry point; enter the market during THE FOURTH bar/candle formation;
8. Do not trade, if you can see the bar/candle patterns shown in Fig. 3; reassemble a new set up.
Fig.1. Locate THE FIRST bar and THE SECOND bar/candle.
Fig 2. Wait for THE THIRD bar/candle.
Fig. 3. Do not trade for a while.