Finding Easy Setups On Your Forex Charts
Finding setups on your Forex charts is a great way to trap pips. Here the Pterodactyl Robot finds a significant price drop before it happens.
Some Forex traders are guilty of chasing pips from one price to another. But pips can be very sneaky. A better way to catch pips is to plan two steps ahead. Don’t chase pips; trap them by finding setups on your Forex charts
. It’s easier than you might think. Let’s review some basic setups that we’ve found recently on our Forex charts.
Pictured above is a large setup found by the Pterodactyl Forex Robot. It determined that a price drop was looming and entered before the action really started. Lately it has been our top choice for finding big setups on Forex charts before they happen. We use it on several pairs at once to cover the entire market.
The Hedge Robot monitors all eight time frames of any Forex chart you place it on. It’s perfect for finding simple reversals.
On this Forex chart the Hedge Robot
acts on a reversal setup. It was designed to locate subtle changes in trend quickly. Notice the rows of color bars at the bottom of this Forex chart. That’s the Hedge Robot actively monitoring all eight time frames for any change in trend.
If it sees a chance to make extra pips from hedging it will jump into action. That can lead to even more pips from small counter-trends you weren’t aware of.
The Fractal Breakout Indicator helped us make this 119 pip trade. Notice the arrows that confirmed a price movement was coming.
Here is the kind of Forex chart every trader wants to see. Our Fractal Breakout Indicator
gave us 9 separate confirmations
before the big price jump ever happened. That’s more than enough to know that we need to open a trade.
This indicator can really help people who are trading based on whims, feelings, or guesses. It uses fractals and reversals to locate upcoming trades on your Forex charts.
Download The Tools Used On These Forex Charts
If you’d like help finding setups on your Forex charts we recommend downloading the three tools we used above. Remember, chasing pips is a losing game. Use traps to catch them before they have a chance to get away.
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