Price Action Forex Trading Strategies (Tutorial)

///Price Action Forex Trading Strategies (Tutorial)

Price Action Forex Trading Strategies (Tutorial)

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Watch More Price Action Trading Videos At – http://www.LearnToTradeTheMarket.com

Video Synopsis – GBPUSD 4 Hour Fakey Price Action Trade Signal With Trend

The price action fakey setup I traded in this video is a contrarian approach to trading the markets. While we are trading a contrarian setup we still want to trade the forex fakey in the direction of the dominant trend. Essentially we wait for a false break to occur and then trade back in the direction of the existing trend.

The reason the fakey is contrarian is because you are basically doing the opposite of what most other traders are doing. Instead of trading the obvious looking breakout as most amateurs do, when trading the fakey you wait for the breakout and then take a trade in the opposite direction but WITH the dominate higher time frame trend.

Once the trade begins to move in your favor you should look to trail your stop loss to lock in profit or move to break even depending on the price action situation.

We are using plain vanilla price charts in this video, no MACD or RSI or any other messy and unnecessary indicators.

New traders should only be trading with the prevailing trend, stick to time frames of 1 hour and above. The best setups occur on the 4 hour and daily charts.

The 4 hour fakey that I discuss in the above video occurred within the context of the previous days pin bar / inside bar combo setup, this added further validity to the 4 hour fakey.

I do not suggest exact stop placements or targets as these are very arbitrary and up to each individual, I provide traders with a guide for stops and targets, my main emphasis is on high-probability entries.

I do not recommend trading the news; let the price action guide you instead of trying to “out-think” the market.

This trade concluded with my position closing out for a 100+ pip profit after a favorable gap down the following Monday. I moved my stop to breakeven and let the market do the rest.

14 Comments

  1. Amitbir Bhalla May 2, 2017 at 7:04 pm - Reply

    great video thanks for published

  2. M Fakir May 2, 2017 at 7:05 pm - Reply

    Good  educational video.

  3. BookonForexTrading May 2, 2017 at 7:07 pm - Reply

    Great explanation of trend trading after pullbacks using the principle Support becomes Resistance and points of confluence.

  4. sannyhawaii May 2, 2017 at 7:08 pm - Reply

    Love this set up. I am trying to make this trade 🙂 good luck to me 🙂 TY.

  5. Ashfaq Sheikh May 2, 2017 at 7:09 pm - Reply

    Good video. One has to learn to patiently wait for the right set-up before committing to a trade. For this reason, many pros call trading ‘boring’. However, everything goes out the window if the trader does not adhere to the discipline to always under-trade i.e have a small open position.

  6. Rafa Dering May 2, 2017 at 7:13 pm - Reply

    Excelent Job!!! Only one question pls…what is the best timeframe to trading?

  7. Randy Nesbitt May 2, 2017 at 7:17 pm - Reply

    Nial, Your honesty is most appreciated. I am looking forward to joining your members.

  8. Daren Dizon May 2, 2017 at 7:18 pm - Reply

    I really like clean charts and more importantly, Price Action…keep it up Nial!

  9. Aman Arora May 2, 2017 at 7:21 pm - Reply

    Nice Job Nial, That’s good work but I have my own way of defining price action without lines and without fibo. But You are good though.

  10. prince massi May 2, 2017 at 7:30 pm - Reply

    plz tel Time frame for intraday ???

  11. maxx astral May 2, 2017 at 7:40 pm - Reply

    Nice and highly accurate strategy explained here…. Thanks for sharing…

  12. Corbid Studio May 2, 2017 at 7:40 pm - Reply

    Thanks Nail… great video!!

  13. phillip gregory May 2, 2017 at 7:41 pm - Reply

    When you enter the trade you wait for the confirmation candle to take out the previous lower. Is this when you enter the trade or do you wait for the candle to close first ?

  14. Robby Elliott May 2, 2017 at 7:46 pm - Reply

    great

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