Forex Tips – A Good Forex Setup

forex signalservice audusd fx trading forextrading Hi traders, Keep an eye on this one for a short. After retesting previous structure support as resistance, downside is highly likely.

All of the pin bars below have something in common that we just discussed, can you guess what it is? It gave me insight to how those. I look forward to your e-mails…. Do you find the pin-bars on the hourly work as good on a 4 hourly and daily charts? God bless you Reply.

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Experienced traders develop their own Forex setups, but they are most often derived from a few basic chart patterns. A good Forex signal is a must have tool in your trading kit. The chart below shows the setup for a typical trade.

The Tokyo traders had largely followed it, but once Europe came on line, they drove the price up about pips while I slept. As you see, the new uptrend ran out of gas as it hit a major resistance level and dropped through the new supporting trendline. These were the first bits of good news. Next, after taking a dip, the price tested the resistance line again, but couldn't break through and began to drop. Finally, the price dropped below the most recent swing low, which was my signal to jump in.

I put up a few extra technical indicators to get a feeling of the market sentiment and all 3 confirmed the price was at a peak and due for a drop. I think the trading gods are smiling on me! Price is moving against the major trend The rally runs out of steam at a major resistance level and drops through new short term trendline Price retests the resistance, but fails to break through Movement returns to major trend direction Price drops below most recent swing low Indicators point to likelihood of downward activity.

There are actually a few setups here that can stand on their own. Click the links for a detailed description of each, plus a few others you should know Futures, options, and spot currency trading have large potential rewards, but also large potential risk.

You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.

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The past performance of any trading system or methodology is not necessarily indicative of future results. Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors.

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This is how to trade price action counter — trend; it can be done but it needs to have confluence of higher time frames, such as a well defined price action setup at a major market horizontal level or swing point, like we see in this example: Checkout Nial's Professional Trading Course here.

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Your daily commentary is very usefull. Darrell September 2, at 2: Tom September 2, at 1: Abdul Latiff September 2, at 1: Kingsley September 1, at Hey Nial and the person who wrote this article, I love it, love love it. Daniel Sebag September 1, at Hi Nial, As always great report on trading the forex, I wish I knew about you years ago as I lost my acount and starting all over again on higher time frame. Adrian Cribb September 1, at 9: Hi Nial, Thanks for all of your information and thank you for all the effort you put in.

Cheers, Adrian member Reply. Leave a Comment Cancel reply Your email address will not be published. Recent Popular Comments Nial Fuller. Price Action Trading Patterns: Can Forex Trading Be Taught? God bless you Nail Thanks Nial for providing these charts now I under Dear Nial, I am a novice forex trader from India I will say a big WOW to this. Thanks so much Nial Im also intrested to You don't need to make 10R in a month.