Posts
False break on daily level of support a good opportunity to take long to the resistance level area marked on the chart .
Tuesday
USD/JPY Opportunity For Long Trade
The pair created a pin bar on support level and now provides an opportunity for long trade The expectation is the pair will continue to increase to the levels that marked in the graph.
Monday
Saturday
Gold Technical Analysis
as you can see in the gold chart there is still potential for further increases there is 2 pin bars on strong support 1530 price area, the target will be 1790 resistance,stop location preference below 1500.
Pin Bar Forex Trading
Pin bars are one of the most popular price action forex trading strategies. They show a clear rejection of a price level and are often followed by a large directional move opposite the direction of the rejection.pin bar is the highest-probability setup that are worth risking your earned money on, I prefer to trade only 4 hour and daily time frame,because is a much higher probability the trade will be Successful.
Bearish pin bar Bullish pin bar
Here is an ex example of a long trade on EUR/USD daily time frame
Here is an ex example of a short trade on USD/CAD 4 hour time frame
Now after you know what is pin bars and how to trade them you can try trading them on a demo account,and star your way in forex trading.
Thursday
Forex Order Types
Limit Entry order A limit entry order is placed to either buy below the current market price or sell above the current market price.
Sell Limit Order
Buy Limit Order
Stop Entry order A stop-entry order is placed to buy above the current market price or sell below it. For example, if you want to trade long but you want to enter on a breakout of a resistance area, you would place your buy stop just above the resistance and you would get filled as price moves up.
Sell Stop Order
Buy Stop Order
Stop Loss order A stop-loss order is an order that is connected to a trade for the purpose of preventing further losses if the price moves beyond a level that you specify.
Trailing Stop The trailing stop-loss order is an order that is connected to a trade like the standard stop-loss, but a trailing stoploss moves or ‘trails’ the current market price as your trade moves in your favor.
Risk / Reward Important Part Of Forex Money Management
Forex trading is a game of probabilities, traders who learn to view and think about trade setups In terms of risk to reward,are the ones who usually end up making money in the Forex market. Defined trade setups at the right place and time is definitely a necessary ingredient to Successful trading.However, it is possible to make consistent money even if your discretionary Trade setup identification skills are not fully matured yet. Risk to reward setups are what give all Traders an equal chance at making consistent money.
Risk to reward is one of the most important pieces of the puzzle to profitable trading.And proper amount of self-discipline and emotional control.
Learning to think in probabilities and to view the market in terms of risk to reward, it is Necessary to calculate the risk on a trade, then you can calculate the reward as a multiple of the Amount you have at risk.
Concentrating on the risk first making you more aware of the risk involved on each trade setup.
Risk level for this setup is 40 pips the distance from the low to the high of the pin bar.We will figure 1$ per pip for the example so the risk is 40$ and the profit potential for 2times Risk is 80$ 3times risk is 120$.
Getting a risk / reward At least of 1:1 or 1:2 on every trade, you can lose on well over 45-50% of Your trades and still make money.
Now we learned from this article is that you can make still money in the forex markets even if You lose more trades than you win.
