Before anything: Check News for your pair. Absolute Number 1* Use Monday Candles Support & Resistance rules below before proceeding
1. Find a fake Breakout (Head of the head and shoulder. A left shoulder should be always to the left) 2. Draw Fibs after you see retracement forming 3. Plot Support and resistance lines on 50% and 61.8% 4. Check past to see if these areas are strong support and resistance. 5. If Support & Resistance land on 50% or 61.8% on a Monday High or Low and on the left shoulder then go to step 6. 6. Determine Order Type based on direction 7. Place Limit order on your MT4 app
**How to use Monday Candles as Support & Resistance**
1. Check the Monday Highs and Lows 2. Wait for a candle to break and close outside of a Monday High or Low. 3. Set an alert for a the crossing of a candle at a Monday High or Low depending on the direction of the market you want to see.
Look for imbalances in the market. its a missing right shoulder on a head and shoulder pattern