Trade Example: Support and Resistance Double

Here is a great example I wanted to share with you from yesterday that combined a) Support and Resistance with the b) Double Detection feature of CandlePro that would have netted you up to 56 pips within 2.5 hours.

First off, we always look at the charts and determine where our S/R levels are. In this example I actually did this for you in the free daily signal (October 7th, 2010) when I wrote: “A more aggressive but more realistic long would be a long in the 1.3860-1.3890 support zone with a bullish signal targeting (from 1.3890) 1.3915, 1.3945, 1.3975 and 1.40 for 110 pips profit.” In essence, to a CandlePro user this should boil down to “Looking for good bullish signals in the 3860-3890 range.”

At 16:45 GMT we got our bullish confirmation - a 15m EUR/USD and GBP/USD DOUBLE with 100/100 Forecast Strength:

It is a) with the strong trend, b) good forecast strength, c) a DOUBLE and d) right in our support zone. They don’t get much better than this as far as confluence lining up for you – these are the sort of trades you should be waiting for.

I normally don’t trade 15m charts very much but as the trend gets stronger and stronger I look on smaller and smaller timeframes to get more entry points in the high-probability trends.

Join the Discussion!

  1. hooman majidi
    October 8, 2010 at 07:55Reply

    hi mark.how are you? how can i buy your candlepro sterategy? and how much? because i live in iran and i havent credit card for paying for your candlepro.please lead me .thanks alot …cheers hooman

  2. hooman majidi
    October 8, 2010 at 08:09Reply

    hi mark.please tell me that the figure above for candle pattern and s/r ratio and etc .how can i use from this figure and sterategy? thanks alot sincerely …hooman

  3. Profile photo of Francisco
    Francisco
    February 10, 2011 at 18:21Reply

    Amigo boa tarde estou no saite de voces pela 1º ves so falo o portugues
    estou usando o tradutor e confesso que estou admirado com o saite pelas explicaçoes
    vou lhe contar uma cousa acabei de estourar uma conta na subida e descida do eur
    portanto eu nao entendo e confesso que ta me deixando doido ja pensei em desistir
    e por acaso achei o saite de voces amigo como eu vejo o double traide funcionando
    gostaria de experimentar free por um tempo ate eu me acostumar ok

  4. Profile photo of Jose Arrepia
    Jose Arrepia
    March 23, 2012 at 15:14Reply

    Alo frank-voce encontrou o site correcto para aprendrer( hello frank you find the correct site to learn) Um site muito bom ( a very good site).

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