How to get perfect entry in forex

@sizwe_twala - 9 months ago - Forex Trading Strategies

I still have not perfected how to time a trade so I enter at the right time and most importantly exit at the perfect time without losing my gains. Sometimes I spot support and resistance areas but price refuses to react to them. Would like to hear from other forex traders pls.

Thanks

@martini_schwarzwald - 8 months ago

I always wait for a confirmation after a breakout. This way, I reduce the number of times i fall for false breakouts.

@pierre_r_carosso - 6 months ago

its smart to always enter whenever prices closes below or above a notable opening or closing price in the past.

For example we are in 2025 so if you notice price has fallen lower and closed below the closing price of 2024, then it may be time to sell.

Take a look at the sp500 yearly chart i attached, each cande represents one year. You will notice that in 2025 the candle is red (bearish) and has closed below the 2024 closing price which signifies intense selling pressure.

if you time your entry immediately after price has breached the 2024 high and retested it, it would be a perfect entry because the risk will be low as chances of price reversing back up immediately would be slim. You can place your stop loss at least 10 pips above 2024 closing price.

This example also applies to monthly charts, weekly charts etc.