Although the priority is given to the weight of the more recent data, the historical values also affect the final results. On M15, all the three oscillators are showing bearish divergence. After 10 candles the minor trendline is broken as is clear from the above screenshot. If we had drawn the minor trendline on the H1 timeframe, our entry would have been reddit best forex platform uk trading around 1.
So by using a lower timeframe, we have been able to reduce the risk by 23 pips. On H1 timeframe, try to keep risk lower than 20 pips. If you find an entry with a risk of more than 30 pips, just skip that trade. Trading with 1-hour or 4-hour charts is also possible, however, the bigger the time frames, the more precise the trend will be. So far, weve best forex trading platform uk reddit taught you how to develop your trading plan. As a result, a line with the same period is smoother and closer to the chart, best forex trading platform uk reddit and its signals are less dependent on the large but outdated values. One of the strategys shortcomings is that there are many false signals.
One MA can help catch a major best forex trading platform uk reddit trend, but before that, you might have to open several losing positions.
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This strategy is suitable for any time frame, but we recommend it for short-term best forex trading platform trading uk reddit with M15-H1 charts.
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