Bearish Railway Track Pattern (noted on 1 hour chart- higher time frames are better for this noted reversal pattern)
A railway track pattern has the first and the second pattern .
that fact that there’s a sudden change from to should be a good indication that there might be a forming if you see it in levels of resistance, , downward , fibonacci levels etc.
Currency Pairs To Trade?
You can trade any currency pairs with this trading system.
Time frames Required To Trade?
I suggest you use the daily, 4 hr and 1 hr time frames only.
Any Forex Indicators Required?
You don’t need any Forex indicators for this.
Rules: Selling Trading Rules Of The Railway Tracks Pattern Forex Trading Strategy ( )
place a sell stop pending order 1-2 pips below the low of the railway tracks pattern (2nd candle)
stop loss can be placed 12-20 pips above close of 2nd candle, target should be 1:2 to 1:3 or risk reward of 2 xs or 3 xs on a scalp or day trade.
risk reward of 1:3 can be used to calculate your take profit target level or if you want to aim for a little bit more, use previous swing lows as your take profit target levels. Or you can also use trailing stop to ride out the trend. *Good luck and risk management is always #1.