away from this free course it should be this: you arent going to make money fast by trading time frames under the 1 hour and by rushing your trades. Join my weekly newsletter to get my latest price action analysis and my trading tips. Another reason why this strategy is so popular is that it can be easily adjusted according to each traders personal preferences. I dont use any indicators or confusing systems; I simply trade from a naked price chart. Scalpers will enjoy those small retracements, but for this price action strategy, we are not interested in this small channel or consolidation. Thus, I have no desire to sit in front of my computer screen staring at the 5 minute chart like a strung-out zombie-trader. Same can be applied to this price action approach. The Bull-Bear Flag occurs when the market is taking a breath from a hard up or down trend.
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Price action trading also involves taking trades when price shows reactions at critical price levels. We will see how to interpret the action of the market through these important patterns, but, most importantly, we will see how to enter a trade with perfect timing and how to place Stop Loss and Take Profit in order to maximize your profits. Forex, and I know a lot of other people are too, but unfortunately there is so much misleading information about it, that it can be really difficult to get started on the right path. If the price would have hit this red zone and continued to the downside, we would have been interested in a sell trade since there were new lower lows and it gave us an indication that this will become a downtrend. Why I trade the way I do As I say often, I am very simple in how I think about and trade the markets, my years spent in the trenches of the markets have reinforced the necessity to eliminate unnecessary variables from my trading. I really want to stress the fact that taking a slow and calculated approach to your trading is far better than trying to be a day-trader or entering 20 trades a week.
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