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<\/a>I spend up to 4 or 5 hours studying forex charts on multiple time-frames. Starting with monthly charts, I\u00a0work down to 4 hour, no lower.<\/p>\nI am looking for trends and direction.<\/p>\n
Major areas of previous support and resistance, trend lines, candlestick formations, emas, et al.<\/p>\n
I also read the financial newspapers and online articles. It’s a fairly long process but<\/em>\u00a0I only have to do it once a week.<\/p>\n I also make a note of upcoming news events that can move the markets. To do this I use this forex calendar<\/a>.\u00a0I make a note of the date and time of scheduled “red flag” news.<\/p>\n These are news events that are likely to make the market move, often quickly and unpredictably. I then make sure that I do not open trades just prior to these events. I move stops to entry or close trades if I feel that the news could be particularly volatile.<\/p>\n In a separate video later this week I explain how I trade around the\u00a0news, but never during<\/em>\u00a0a red flag announcement.<\/p>\n At the market open I then look to see if there are any “gap trades” – often price will open at a different price on a Sunday evening. I do have a simple strategy to take advantage of these gaps. I will cover this in detail in my mentor site.<\/p>\n Once I am satisfied that the initial surge is finished I place forward orders for my “A” list of potential trades. I then concentrate on 4 hour charts looking for other trades during the week. By trading from 4 hour charts I only need to check in with my trading platform every 4 hours. I have a look 15 minutes before the candle close, decide what I will do if xyz happens at the candle close. I double check that there is no red flag news due and then either place a trade or walk away – that’s it!<\/p>\n My goal is to be finished trading by Wednesday wherever possible. I rarely trade on a Friday as historically it was always my worst day and most of the moves have already taken place. I go into advanced forex strategies in much more detail via my mentoring service forexmentorpro<\/a>.\u00a0Here you can start learning advanced forex strategies and much more today.<\/strong><\/em><\/p>\n This video was taken from my forex mentor program. I explained to members how I do my analysis and how I trade around the news. In a separate video I went on to show them the trades I was looking to trade. You can find examples of my fellow mentors & my detailed analysis on the blog: Forex Blog<\/a>.<\/p>\n We provide this type of detailed analysis every trading day, before<\/em>\u00a0the event. We show you what we are looking for and why. The goal is to teach people how to trade for themselves, not<\/em>\u00a0just blindly follow our analysis. I also show how I cancelled a trade prior to a big news announcement on the Gbp\/$. This was a good decision on my part. The news came out much better than expected and price simply shot up and broke my intended entry area.<\/p>\n If you would like to learn how to trade like a professional check out our 5* rated forex mentor program, RISK-FREE; by clicking on the \u201cGet Started Today\u201d Button below<\/p>\nMaking the decision<\/h2>\n
Further Information on how I do my forex analysis<\/h2>\n