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There was a time when I thought 20-30 pip trades were the best type of trades I could enter, but my analysis told me I could catch more pips.
The sad part was I didn't know how to hold my trades and what timeframes I needed to stay on deliver those pips I missed.
Fast forward to 2022, I've learned that a significant timeframe to catch big trades is the weekly timeframe. That's exactly what I just did on USDCAD.
It's More Than a Timeframe
The weekly timeframe is what is known as a time period. For example, it takes five trading days for one weekly candlestick to close.
What does this mean for you?
This is not a timeframe you should analyze every day. Since it takes five days for the candlestick to close, there is no good purpose for being on this timeframe very often.
When should you use this timeframe?
I say at least after it closes each Friday. It gives you a bigger picture of who took control for the week; buyers or sellers.
More pips to be made
If you analyzed the 1-hour timeframe, how many pips do you think you'd gain per trade?
You could make an easy 20-50 pips easily.
What do you think would happen if you analyze the weekly timeframe? You could easily add a zero to how many pips you could gain.
That's because there is more room for price to move.
"Timeframes change, but your rules stay the same" – Shaquan Lopez, Forex Coach
How Does This Work
Well, take the strategy you trade now and use it on the weekly timeframe. That's precisely what I did on USDCAD.
This is precisely what I had to learn how to do, and it works! No more 20-30 pip trades.
I now prefer my trades to be 70 pips and more. Anything fewer means I'd need to drop down to the one or 4-hour timeframe, which isn't a bad idea. I prefer not. I have clients who trade the 4-hour timeframe successfully under my teachings, and this is where I say go for it!
Your next big trade can happen too! All you need is the know-how and motivation. I'll be here when you're ready.
I'll have you catching more pips after working with me for six weeks. So schedule a Free Discovery Call With Me Today, and let's get you ready to grab your next big trade.