Here we have a great example of being able to read and understand raw price charts. Usually the market tells you direction before it makes its move, and today was
In this chart we have a example of a stop run reversal day trade during news. Because of this setup occurring right after news we did not take it, however if
As I was explaining in the room today we have seen some tough trading for this entire week if you are a short term forex trader. When you open up your trading platform and see a huge move in currencies before you got there it makes for tough trading, and here is why.
Here is a great example of the breakout continuation trade. This type of trade setup is a great way to trade breakouts without trying to chase the initial breakout. When entering on the initial breakout, often times these are just simply fake moves that lead to a complete reversal in the market.
Today we took a nice long on the GBP/USD for +40 pips. Overall it was really slow European and NY session, which required a lot of patience to wait for the proper trade setup. However after an hour and a half of waiting for this setup we finally had a good trade.
Notice the EUR/JPY goes up to the last intra-day resistance level, then closes as a reversal candle formation. After the reversal candle closed we went short.
Here is a great example of using market correlation to find an entry. On this trade we had everything either at previous support or resistance, and additionally each 15M chart was closing as a reversal candle formation. Additionally on the EUR/JPY and the GBP/JPY there was a great forex breakout continuationtrade setups occurring.
Here is a great example of getting in with the current trend by using forex chart patterns that repeat themselves many times throughout the trading day. On this example the market as a whole was point towards USD strength as well as the YEN crosses being pointed down. On the EUR/JPY we were making consecutive lower lows as well as lower highs
Here is a Recent Forex Day Trade on EURJPY currency pair taken in the London Session. Other forex pairs discussed etc. Talk soon guys.
A video with a few day trading oppertunities explained. This week we managed +15% from these day trade setups. Learn how to trade these forex trading strategies with this forex education video