|Welcome to currency trading with Profiforex!
The idea of system is to draw the lines that will become the borders of movement in future . It happens as follows:
First, we point out the local peak and assume there will be a change in the trend direction. We place the number "1."
|Some time later, the price has continued the movement. In this case we searched for a new local minimum or maximum,or there was a correction and the price gave one more peak lower. This is the beginning of the work. We place the numbers "2" and "3."|
Subsequently, we draw one line and wait for a rollback.
If it doesn't happen, we search again for the new maximum or minimum.If a rollback occurs, we can place the number "4" and draw the second line.
Now we have the price channel and can assume that the price will move within that channel.
Accordingly, we have support and resistance lines.
If you become a professional in the use of this system, you can achieve very good results in trading. However, the system isn't recommended for beginners
because of the complexity of construction and the high psychological stress.