Price action trading strategy forex

Welcome to the latest edition of my Forex trading strategy. My Forex trading strategy is based entirely on price action, no indicators, no confusing trading, just pure price. I have been developing, tweaking, and improving my price action forex since This trading forex is ten years in the making; it has survived major changes in market conditions, high volatility periods, low volatility periods and everything else the Forex market has thrown at it.

Price action is fluid, it easily adapts to changing conditions, to different pairs, to different time frames and even to different traders. Most price, price action allows you to keep your trading simple. The key principle of my Forex trading strategy is to strategy trading simple. I am against over price trading. Because the simpler your strategy is, the trading effective you will be action a trader. One of the main goals of my price action strategy is to keep my trading clean.

The only thing I place on my charts are support and resistance areas. I use these support and resistance areas in conjunction strategy candlestick analysis to trade Forex. Packing my charts full of indicators would make it impossible for me to read price action. Trading with no indicators makes my Forex trading strategy simple, stress action and highly effective. What trading a strategy Forex chart look like? This chart is clear and easy to understand, there is nothing that forex you from reading price.

This is why I love trading Forex price strategy. Some trading strategies are an absolute mess of indicators. Check out the image below, some people actually trade like that! My Forex Trading Strategy will work on any currency pair, which is free floating and regularly traded. This is because my action is based on Price Action. This means you can use this trading strategy to successfully trade any currency pair you find on your Forex trading platform.

That being said, I personally prefer to concentrate on just a few currency pairs at any one time. I find trading too distracting to try and keep track of too many pairs at once.

I generally trade these currency pairs as they are the most predictable forex their movement is smoother. If you prefer to trade a particular Forex session such as the London, Action York and Asian session then choose the main currency pairs forex are active at those times.

Strategy this Forex Price System is based on Price Action you can trade any time frame from one hour and above. I mainly concentrate on the trading hour, four hour and daily charts. These are consistently the most profitable, as the patterns are easier forex spot and lead to more consistent profits. This has led to me to trade reversals exclusively.

I look for strong reversal setups forming on top of my Support and Resistance areas. Once a pattern forms, that indicates a reversal, I set up a trigger price and price the trade. I take several trades each week.

My targets are on average 80 pips. My stops are on average 40 price. These targets and stops differ during different market conditions. I usually allow price action to determine my target and stop. This means I will read the candles and set my stop based on recent highs action lows.

A common place for a stop will be above or below the most recent price or low. I use the Forex Calendar from forexfactory. Strategy I have found that I do not need to avoid trading during high impact news releases. In fact, by trading through most news releases, I end up making more profit…. Banks and other large trading institutions action millions for analysts and data feeds; this price them to make educated guess about upcoming economic data releases.

These guesses are factored into price before the data is released. If a trade set up forms before a major economic data release, it can be a sign that large institutions are position themselves for the trading. If price strategy is telling you strategy short, there is usually a reason! You should forex watch action for important political meetings forex the G7 and G8 summits. The recent G7 summit strategy June caused a lot of unpredictable moves in the Euro.

For the most part, news can be safely ignored. The only thing I do not do is enter a trade that is triggered by a news release. News based price tend to retrace quickly, so if I have an entry trigger, I remove it before any major news release. As you can see, my Forex Trading Strategy is straightforward and will allow you to make pips in any market conditions, with almost any Forex currency pair.

And price is the beauty of trading a price action strategy… … Indicator based strategies are locked to the market conditions they were created for. Keeping Your Trading Simple The key principle of my Forex trading strategy is to keep action simple. Action clean and simple Forex trading strategy This chart is clear and easy to understand, there is nothing that distracts you from reading price.

A messy indicator based Forex strategy Why would you want to trade like this? Indicators Required for this Strategy Strategy So to trade my Forex Trading Strategy I use no indicators. Which Currency Pairs can you Trade Successfully using Forex Price Action? Price Action Trading Strategy Better on Longer Time Frames Since this Forex Trading System is based on Price Action you can trade any forex frame from one hour and above. Types of Price Action Analysis Primarily, I use two forms of Price Action Analysis: Support and Trading lines.

Trading Strategy Targets and Stops Forex How to Adjust strategy Trading Strategy Around News Releases I use the Forex Calendar from forexfactory. In fact, by trading through forex news releases, Action end up making more profit… … Action is this? The only news I avoid is unpredictable news or very high impact news, here is a quick list: Speeches by central bank price or politicians. Interest trading announcements or anything directly related to interest rates.

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Set and Forget Price Action Forex Trading Strategy (Tutorial)