Do you want to master Forex trading? Well it all starts with having the right strategy! Trading Forex using price action is simple, stress free, candlestick forex strategy highly effective. In this guide I will share my advanced Forex trading strategy with you.
You will learn to use powerful price action techniques in a stress free and simple Forex trading strategy. My Forex trading strategy is based completely on price action, no indicators, no confusing techniques, just pure price action! Chapter 1 – What is Price Action? When GBPUSD moves up it’s because there are more bulls than bears and vice versa.
Price action trading is about analysing who currently controls price, bulls or bears and if they are likely to stay in control. How do you analyse who’s in control of price? By using two simple price action techniques. Once price hits these areas you know it is likely to stall or reverse completely. This allows you to buy or sell at the right time.
Advanced candlestick analysis goes much deeper than that so that you have a full understanding of what a chart is telling you. These two techniques make up the core of my price action trading strategy. In fact, those are the only techniques I use to find and trade high probability setups. It’s simply about reading price and making smart trading decisions. It has survived major market changes from the financial crisis in 2008 to the Swiss Franc disaster in 2014, to Brexit in 2016.
It really has seen it all. My price action strategy works in all market conditions. From trending markets to low volatility, to ranging, to high volatility, it has weathered it all with consistent profits. Indicator based strategies work well in specific market conditions. If you have a strategy that works in low volatility markets, it will fail in high volatility, ranging, or trending market conditions. Price action doesn’t only adapt to changing market conditions though, it adapts to different pairs, different time frames and, crucially, to different traders.
Above all, Price Action keeps your trading simple. In fact, my Forex trading strategy is so simple that you can trade it from your smartphone. The most common downfall of today’s traders is over complicating their strategy. We have all seen charts that look like this. How can you trade comfortably using a chart like this?
How can you trade efficiently using a chart like this? How can you trade from your smartphone using a chart like this? You can’t, it is too messy. The core rule of my price action strategy is to keep trading simple. Because the Forex trading strategies that work best are simple. The only thing I place on my charts is support and resistance areas. I use these support and resistance areas in conjunction with candlestick analysis to trade Forex.