Welcome to this weeks trade of the week example for 30th October 2013 Part 1

It's that time again, to start off by looking at our higher time frames. The most vital part of the whole process.

Failure or success will occur here.  So let's get it right, from the off. If you read the higher time frames correctly you'll be fine. If not, then what follows on the lower time frames will be anarchy.

If you read the higher time frames incorrectly, then the lower time frame set up, may not deliver the results you want. It's that simple.

So lets concentrate on getting it right, straight off the bat, by reading the higher time frames correctly, at treating them with the respect they deserve.

Condition 1 or condition 2?

In this weeks trade of the week example, I show you an excellent example of a condition 2 set up.

Although the condition 2 takes a bit more skill to master, it's well worth the effort. When you can take condition 2 set ups along with condition 1 set ups, then you have a lot more opportunities to profit from. So let's take a detailed look at how it set up, and why it proved to such an excellent example of a condition 2 set up.

Please remember, when taking a condition 2. It must be a real "no brainier" in other words, very obvious as to what's happening. This is where your skill in reading the candles will really pay off.