- :Follow Price Action Trends - Forex Trading
- Using Price Action to Trade Trends - DailyFX
- 50 Pips A Day Forex Strategy - FXN Trading
Therefore, the strategies to follow the trend presented in this article appeal more to conservative traders.
:Follow Price Action Trends - Forex Trading
But even among conservative traders (., risk-averse), there are some that go an extra mile to protect the trading account. There is nothing wrong with it!
Using Price Action to Trade Trends - DailyFX
When looking to trade with the trend on their side traders need to enter from strategic areas rather than just spotting a trend and jumping aboard.
50 Pips A Day Forex Strategy - FXN Trading
That’s very much true, but are you able to identify trending conditions? Because one thing you should know from the start: statistics don’t favour trending conditions in the FX market.
This one is quite simple and works with many other oscillators that have both positive and negative values. It is based on crossing the zero level.
The biggest drawdown to trend trading analysis is that all the work and strategies are done after the the pattern has occurred. That is why I prefer using price action as my main trading strategy.
During a channel’s formation, the idea is to react at the edges. The favourite strategy many traders use is to sell the upper edge and buy the lower one, in a bearish channel.
That may sound very confusing, but the chart below explains this clearly with a price action chart. For this example price was in an existing up-trend and for the trend to change we are looking for a 6,7,8 back lower.
wow article JONATHON U explained entire price action trend trading such an easy way with step-by-step guide Very very useful for PA traders.
If price does go onto make a new high, the up-trend Is still in play. For the last leg of the pattern or the 8, price again moves lower, moving past the new low that was made from the first leg and going onto to make a new lower low.
In the end, it is up to the trader. In any case, the five trading strategies to follow the trend presented here should be part of the technical analysis arsenal of every trader that respects his/her work.