Advancing in any endeavor requires processes or steps. Goals are important but I think the processes to achieve the goals are more important.

When I prepare and plan for my day, I follow a process that leads to taking a trade. Here is the list of my daily processes:

  • Check Forex Factory for any announcements for the day.
  • Open my charting application and move my lines on the 10-minute charts to where price is currently at for each of the pairs I follow.
  • Check the daily chart to see where price is and move my support and resistance lines to establish where price will hold for fading on the 10-minute chart.
  • Wait for the setup on the 10-minute chart.

After trading for over six years now, I like to keep my trading as straight and simple as possible.

I read somewhere (I think at that no matter how many different indicators and charting tools are out there, everyone can see the same support and resistance lines on a chart.

Because not everyone uses the same dozens of indicators, why not base your trading on support/resistance lines because everyone sees them? So this is how I established my trading strategy.