Monthly Archives: March 2013
Hey Forex Traders, I just wanted to point out some nice trades that had formed recently on the EURUSD and GBPUSD. Below are some charts with classic examples of some of my price action trading strategies that I use on the 4 hour and daily charts.You will notice the clean simple chart, with no indicators (pure price action). The charts show my “false price action setup” and “pin bar reversal setup”. The current market conditions (at the time of writing) have been “perfect”. If you can’t make money in the current market then you won’t ever make money, this current trend is a “gift”, trade it well.
An Explanation To The Pin Bar Forex Trading Strategy and How to Trade It Effectively
The pin bar formation is actually a price reversal pattern consisting of three bars. Once familiarized with pin bar formation it is apparent from looking at any price chart just how profitable this pattern can be. Let’s go over exactly what a pin bar formation is and how you can take advantage of the pin bar strategy in the context of the Forex market.
What is a Pin Bar?
The actual pin bar itself is the middle bar of a three-bar formation that can be found on any stripped down “naked” bar chart or candlestick chart. We will cover the candlestick pin bar formation after our discussion of the pin bar formation using standard bar charts. Many people prefer the candlestick version over standard bar charts because it is generally regarded as a better visual representation of price action.
Trading forex sometime is complicated enough. But with identifying true or false price action breakout pattern we can know what exactly market will go. And for sure economic news is still in play before we made or take decision to entry to forex market. And don’t forget to remember we’ve to using our lot management with wisely. And here some price action tutorial below that we can learn together. 😉
Today we’ll learn about what exactly definition of price action forex trading analysis. Using price action forex trading analysis is almost called “naked trading”. You can analyze forex market, option or gold spot or any thing using this naked strategy based on price action only. Just remind accurate price action analysis only on at least four hour time frame and executed it on one hour time frame. No need any indicator again, but you’ve to find which HH,HL,LH and LL. At the end this parameter will be exactly level which you best to trade with. At the end will know what exactly price will go.
Forex traders has a job to look for low risk/high reward price levels to short at.
Today’s education will focus on some day trading rules. The most important thing in any type of trading is to have a solid set of rules and then to have the self control to follow those rules. Day traders especially need to have rules to follow as emotion can and will have you buying and selling at the wrong time.