Suggested timelines H1   

Using any technical indicators on the chart is not a must for this method. It is predicated on an evaluation of the market in terms of the traders' collective behavior and psychology. H1 is the suggested timeframe.

For instance, we can initiate a sell position if the price, while in an upward trend, breaks down the prior high with a comparatively high degree of volatility (for instance, a rising candlestick breaks down the resistance level from the previous highs and closes at the same level within an hour or two). The reason for this is that traders typically set stop orders above the local highs in anticipation of a market reversal.
A sell order will be placed as soon as the price breaks through the resistance level. Subsequently, a profit is made equivalent to the height of the breakdown, ie to the distance from the resistance level to the highs of the candlestick. (Fig.1).

Figure 1

If there is a downward trend, a buy order is placed. (Figure 2). An hourly candlestick indicates a trend correction if it breaks below the level of the previous high and returns to that level in a day or two. Opening a buy position from the level of the previous low will yield a take-profit equal to the breakdown height, which is the distance between the candlestick's low and support level.


Figure 2

Economic news releases must be taken into account because they have the power to turn the market in any direction. SWAP is severely forbidden. This strategy's major drawback is that it necessitates both an open position and constant market circumstances monitoring.