Day Trading Setups – Trading The Backside Of Manipulation Points
In this video I cover two trades taken this week. The first trade was on the 20th and the second was on the 23rd of May 2013, with the second trade setting up during our live forex room. Both of these trades illustrate how the backside of any manipulation point provides very important information. The first trade from the 20th was taken after a high probability manipulation was broken and then the market later came into this level from the backside. Once it came into that level it then created the stop run of it, thus producing a trade opportunity.
The second trade was from today during the NY trading session. The market came into a high probability point and showed a quality stop run manipulation setup of that level where the short was taken. After the initial setup the market continued through the manipulation point and created a stop run of that same level from the backside. One reason to exit a trade is when you see a stop run against the direction of the trade you are already in. That is exactly what we saw today on a smaller scale.
During the last 4-5 minutes of the video I cover one other topic we have been covering quite a bit lately. I won’t spoil it but I highly recommend watching the video all the way through as the ending will be helpful regardless of the fx trading strategy or system you currently use. Over the last 4 years I have been privileged to have a part in teaching well over 2,000 traders. During that time clear patterns between profitable traders and losing traders have become very apparent….I call these common denominators. Make sure you take part in the “exercise” I mention as it is sure to have a hugely positive impact on your trading.
If you are new to the site you may want to watch this 3 Part Mini Forex Course before watching these live day trade videos. Learning the basics of the trading strategy first will make these videos much more useful to you.
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