فوركس ساتو

As with trendline breaks on Monthly charts, Weekly chart trend reversals are
still infrequent but do happen much more often. Definitely try to apply the
“Sailing” techniques to jump into a trade at the confirmed breakouts on the
Weekly charts. Accomplished successfully your trade can sail along for
weeks gathering for you those desired pips.
I recommend that every weekend you review the Monthly and Weekly charts
of the currency pairs you like to trade. The weekend is a good time to do your
“big picture” analysis since you can’t be doing any trading then, and it is
important to be aware of these perspective to watch for trading opportunities
as they happen (i.e. trend reversals or Fibonacci swings). Obviously the
conditions of those charts will gradually change, but very slowly.

This is the Daily charts over a period of about 15 months. As you can see
from the mess of lines (not all relevant lines are drawn) there are plenty of
trends that happen, providing you with more frequent trading
opportunities. Notice that the consolidation pattern we looked at on the
previous chart, now on the left side of this chart, shows more obvious tradable
trends on this scale (but would be further clarified on Hourly charts).
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Here is the Hourly chart showing the past 30 days. Obviously there are many
trends that happen (again, not all trendlines were drawn), all of which can be
effectively traded. This is the “bread & butter” trading opportunities for you,
meaning that these will provide you with plentiful opportunities to make some
nice profits.
Obviously you see plenty of waves, oscillations along the trends, and these are
what I call “Micro Trends” (as discussed in “Forex Surfing”). Feel free to
trade the micro trends on say the 5 Minute charts in much the same way you
would trade the larger trends.
So far in this section I discussed the Monthly, Weekly, Daily, and Hourly
charts. Feel free to also delve into incremental timeframes such as the 8 Hour
charts, the 2 Hour charts, the 15 Minute charts, or whatever scale you find
most appropriate to work from (based on the nature of the trend you are
observing).
“The trend is your friend until it bends”. Watch for trend reversals and
establishments of new trends on all timeframes, then trade those new
trends. This above all else is the key to success as a trader.
Remember, when you are watching an established trend on some scale and
you see the market approaching the trend line then watch for a trendline
bounce. That sentence is what most teachers will tell you, but I’m going to go
a step further for you. When you see a trendline bounce then zoom into a
smaller scale chart to more clearly see the smaller trends. Near the trendline
(from the bigger charts) you’ll see some kind of a reversal pattern (trendline
break, Head & Shoulders, double/triple top/bottom, consolidation(doji),
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whatever). Enter a trade as would be appropriate for the smaller scale that
you are viewing, but then let the trade run as appropriate for the larger scale
perspective. This is a secret for entering a big trade with a small trade.
“Think globally, act locally” is a saying I introduced to you in “Forex
Scalping”. When trading along a trend realize that it is likely just part of a
larger wave (Fibonacci) on a larger scale chart. Zoom upwards to view the
major trend of which the current trend you are trading is just an oscillation of
the larger trend. It is important to look at the larger charts to see likely
reversal points for the trend you are trading – Is it approaching the larger
trendline? Is there a Fibonacci retracement level coming up? Is there some
other convergence or Gartley to be aware of? Bottom line is that the larger
chart can show you potential reversal areas so that you can exit your trade,
enter into a new trade, or replace your stop appropriately. So think globally
by looking at the bigger picture, then act accordingly in the local scale within
which you are trading.
The whole concept of this eBook is to teach you to “Sail”. Imagine that you
are in a sailboat leisurely cruising along for days, weeks or even months,
trending along in the ocean in the direction the winds blow. Keep this image
in mind as your trade (your sailboat) sails off into the distance as it follows the
trend of the prevailing market forces (winds).
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