The Horizontal Price Channel Forex Trading Strategy is a trading strategy that is based on a price structure called a trading channel and it is used by all levels of traders-including beginning Forex traders. To form a horizontal price channel, price action changes from a trending market into a market that is consolidating sideways. Price action begins to plot an obvious support level and a resistance level. Given that markets spend most of their time consolidating (called a trading range) in a horizontal price channel, learning to trade price channels is a great addition to the toolbox of any trader – swing trader, day trader, and even position traders. Keep in mind that on the trading time frame a trend may not be evident, horizontal price channels, as price traders from support to resistance and back again, can set up great trending trades on lower time frames. This is one reason why every trader should consider a multiple time frame trading approaches. What is A Horizontal Price Channel Traders should know what a trending market looks like – the price action pattern of higher highs and higher lows for an uptrend – reverse that for a downtrend. A horizontal price […]
The 123 Forex trading strategy is based on price action and normal Forex market structure that any trader should know. The 1 2 3 trading strategy is used as a continuation trading setup that is designed to take advantage of the trend of the market. The failure of the 123 trading strategy is also a trade setup but can also warn you of potential price consolidation in the market or even a trend reversal in whatever Forex pair you are watching. Keep in mind that even though it is a continuation pattern upon confirmation, it is also a reversal pattern from the short term trend direction. 1 2 3 Trading Pattern Formation In any trending market, there is a pattern of higher highs and higher lows. In order for the trend to the upside to remain active, each successive impulse swing must take out point 2 in the formation. When price surpasses the price at #2, the trader can use that as confirmation that the 1 2 3 chart pattern is present. This is a line chart that explains the concept of the 1 2 3 trading pattern and in this case, we are assuming an up trending market Let’s […]
A bull trap trading strategy looks to take advantage of traders trapped in a losing position. Just like the name says, it looks to trap bulls into making a trade and then slams price against them forcing them to exit their position. As the trapped bull traders exit, they sell their positions which helps to propel traders who are trading in anticipation of a bull trap, in the direction of their short trade. The bull trap trading strategy is a pure price action trading strategy and one I talk about in my free Forex trading signals that I publish every week. The post, What is a bull trap in Forex? will show you how to avoid getting trapped in these trades. What Type Of Pattern Do We Use For Bull Traps? I wrote a post on the patterns we are looking for to trade the bull trap trading strategy. Review that trading article but here is a quick visual on what we are looking for. I want to say that this version of trading bull traps will differ slightly than the common trading approach. This approach has a higher success rate (not fully backed by stats) and is easier to […]
The London breakout Forex trading strategy is used to trade the London Forex session during the first few hrs (1-3 hrs) when the Forex market opens in London. Indicators: You do not necessarily need any indicators for The London Day Break Trading Strategy but this Forex trading session mt4 indicator may be helpful. You also must be able to draw horizontal lines on your Forex chart. And that is a very easy thing to do and you can learn all about horizontal support and resistance here. Time frame: 1 hr Currency Pairs: Only GBPUSD Risk: Set your risk per trade anywhere from 1% to 2% of your trading account. WHY TRADE THE LONDON SESSION BREAKOUT? The London trading session is the biggest Forex market mover as much of the trading volume for currency trading is during this session. What that means is that: whatever the trend direction of GBPUSD during the first 1-3 hrs of London forex session in determines what the trend would be for the remainder of the London fx session. What this means also is that this trend may continue through to the US trading session. The volumes of trades and the amount of money that moves […]
The symmetrical triangle chart pattern is mostly considered a continuation chart pattern that forms in the shape of a triangle. What this means is this chart pattern can form in a bull market or a bear market. Although symmetrical triangles are generally regarded as a continuation pattern in the direction of a long-term trend, they can mark the end of the current trend as a reversal pattern given the right context. There are a few different types of triangle chart patterns in technical analysis and one way to think of them to avoid confusion is that are simply consolidation patterns or price compression patterns. Defining Characteristics Of This Triangle Chart Pattern: There need to be two points at the top that will form a resistance level using a trend line. Two points at the bottom will form the support level. The lines will converge into what is called the apex. Price will form higher lows and lower highs in the case of an uptrend as price narrows in range. If you are trading a market other than Forex where you can measure volume, expect to see declining volume within this chart pattern. The rule of thumb is in an uptrend, […]
Not every trader can trade the short time frames intra-day due to commitments so they often look to find the best 1-hour Forex strategy that they can use. Why the one hour chart? Because it will give you 24 opportunities to find a trade especially with the USD vs JPY chart. Since the JPY is active after the main Forex pairs slow down in trading volume, it is one of the best Forex strategies for people who work during the day. USD/JPY 1 Hour Trading Strategy Explained This is a very simple Asian Session Breakout Forex trading strategy based on price action trading using the 1 hr candlestick chart. >No indicators are required for this trading strategy >Focus only on the hourly Forex chart >Focus only on trading USD/JPY >Trade only during the Asian trading session – 11 p.m. to 8 a.m. GMT >Here are the trading rules of this Forex trading system: Wait for the first-hour candlestick of the Asian Trading Session to close on the USD/JPY currency pair. Place 2 separate pending orders: a sell stops and buys stop order on both sides exactly at 2 pips from the low and high respectively. Stop loss should be the […]
The 50 Pips A Day Forex Trading Strategy is designed to capture the early market move of GBPUSD or EURUSD but you can certainly experiment with other major currency pairs. It is a pretty simple day trading strategy but remembers that many times, the best day trading strategies that work are actually simple in design which can make them quite robust. I think this is a great day trading strategy for beginners because you do not need to learn complicated indicators or price patterns. The trade setup is quite clear but like any trading strategy, risk management is vital for your overall success. It is very similar to the London breakout system that is also on this website. We are going to use the major Forex currency pairs and the first thing you will want to do is open up the daily chart to look for the pair that has a decent daily range. Our main goal for our trading day is to capture 1/3 – 1/2 of the daily trading range of the currency pair of choice. Daily Trading Strategy Setup To keep this standard, this method will be using 7 a.m. GMT candlestick on the 1-hour Forex chart. […]
I want to cover a Forex trading strategy that is based on 2 candlestick chart patterns and they are called: The Three White Soldiers Candlestick Pattern Three Black Crows Candlestick Pattern Both of these candlestick chart patterns work in combination with each other and for the sake of simplicity, let’s just call it the “3 white soldiers and 3 black crows trading strategy“. First, let’s look at these chart patterns in detail. THREE WHITE SOLDIERS CHART PATTERN The three white soldiers pattern is a bullish reversal candlestick pattern and it consists of 3 bullish candlesticks and this is how it is formed: The market has to be in a downtrend. You then have 3 green bullish candlesticks that form consecutively giving you the three white soldiers chart pattern. Each candlestick must open within the candle body of the previous candlestick Each candlestick must close higher than the previous candlestick When you see the three white soldiers pattern formed in a downtrend, you should at least take notice because it is a potential signal that a trend change may be happening. One thing you want to see is that these candlesticks scream “bullish” when you look at them. We want to […]
There are two very simple candlestick patterns that are called trapped traders setups that will help you profit from traders trapped in a losing position. Wyckoff is really the one who brought this notion of utilizing springs and upthrusts to capitalize on traders that are on the incorrect side of the marketplace. At its core, it’s just utilizing wrong footed players and a standard price action trading set up to assist you in getting a high chance of a good trading opportunity. I would like to show you ways to benefit from this everyday occurrence with trapped traders set up for both long and short trades. These tactics can be used on virtually any time frame and in any market. PROBLEMS OF TRAPPED TRADERS Panic and the anxiety by people who enter a trade and then find the marketplace going against them can result in a surprising outburst of price movement. This move in price is caused by these traders creating order flow in the other way that they entered the market and exiting their position. As an example, any time you consider the high of a green candle, visualize someone entering the market and hitting their purchase button. Flash […]
This fakey trading strategy is based on the fakey trade setup. If you don’t know what a fakey setup is or what it looks like, then you will learn that in here. The Fakey Trade Setup is being popularized by Nial Fuller, an Australian professional forex trader over at www.learntotradethemarket.com You will also learn about the variation of the fakey setup below. Now, what you will read here are my interpretation of the fakey trading strategy & setup and it may not be similar to what you may read or understand out there but I think it will come pretty close. Lets get started. Definition Of Fakey Trade Setup Here’s what Nial Fuller had to say about the Fakey Trade Setup: “Often times the market will appear to be headed one direction and then reverse sucking all the amateurs in as the professionals push price back in the opposite direction. This can set off some pretty big moves in the Forex market” There are two types of fakey trade setups: bullish fakey trade setup bearish fakey trade setup A bullish fakey trade setup forms when a market is in a downtrend for a while and if it forms in levels […]
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