Day Trading Forex Live – Advanced Forex Bank Trading Strategies

Tips For Day Trading New York Reversals – Live Forex Trades

July 18
03:02 2012

This fx training video really illustrates a lot of good points we should be looking for when day trading New York reversals. While there is never an “XYZ” way of trading any market, there are high probability points that smart money will reverse the price from frequently.

Whether we are trading the overall smart money cycle or a reversal trade setup as in this case, we must keep in mind how smart money tends to move the price which gives us our edge.

Live Room Trade Setup

Today we had another New York reversal trade setup during the forex training room session.  As with the trade setup in the training video above we had a market that first and foremost had moved at least 90 pips. This gives us the indication that smart money will be ending that daily push. Additionally, the price had hit the ADR.

Next, we were in the typical smart money reversal time for the NY trading session. To summarize those first two points, we had an extended market at the end of the typical NY reversal time. This gave us a high probability of a price reversal soon to come. If we expect the reversal the next logical question is, where should we expect the reversal from?

Once the criteria above was set, I very simply looked for the price level with the most confluence which was 1.2200. This level was a psychological barrier first and foremost. Round numbers are universally used in every market which makes them a great point for Smart Money to manipulate. Additionally, this point was right around the ADR and S1 Pivot which gave further indication of retail orders being stacked below 1.2200.

When we saw the price break below 1.2200, I expected this to be the stop run reversal point, and thus I took a long trade setup in our live trading room today from 1.2197 with -20 pip stop loss and a +40 pip take profit. Given the overall market cycle, I was only looking for 2/1 risk/reward on this position which it gave up rather quickly. I hope these pointers can help in your trading!

-Sterling

If you would like more information on how the banks manipulate the forex market you can check out our Forex Bank Course Here.

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About Author

Sterling Suhr

Sterling Suhr

Hey everyone, my name is Sterling Suhr. You and I more than likely have quite a bit in common when it comes to Forex trading. Like most, I started trading Forex and thought it would be rather easy.Everything I read said it would make you profitable so why wouldn't I believe it Forex trading was easy? The unfortunate part is that belief, and the hope that goes along with it pushed me into buying every scam Forex product there was. I've tried every EA, software, strategy, chart pattern, candle pattern, signal service, etc, all with negative results. The bottom line is mainstream Forex trading strategy will continue to fail retail traders. It wasn't until I realized this point did I begin to see success.On a personal note I currently reside in South Western Michigan. I personally love this part of the country and enjoy having a taste of all four seasons. I was recently married in May of 2012 and Chad has given me a stiff warning to not have children:) As a personal hobby I enjoy aviation and really anything to do with the outdoors.

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