Forex Trading Strategies – A Burst that is waiting to happen

Forex trading pair: GBP USD
In the forex chart above, i have highlighted a blue box and indicated it with 3 arrows pointing up.

What we can see in the blue box are 3 forex price action pin bars that are pointing up.

The dotted line in the chart indicates a previous support/resistance zone – where we can see price respecting the zone on various previous scenarios (marked by the other blue boxes)

So what we can derive from the understanding above is that. Price is gathering momentum to break the support/resistance zone (marked by the dotted line).And when we see the 3 price action pin bar formed. It tells us that price is about to burst out to the other side.

Forex Trading Strategies – A Burst that is waiting to happen

So we will do is to place a pending buy order above the dotted line.And when price eventually burst out to the other side. We would have caught the nice move up!

So you can see that forex trading is not difficult to understand. With just plain price action and support/resistance.We are able to read the story of what the chart is telling us.

This is just one of the ways on how trade, Check out our Winning Asia Forex Mentor Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use.

See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Next Advanced Article: breakout + price action

2 Responses
  1. ep Reply

    HI guru’
    by placing buy and sell orderson both sides, isn’t it risky that both may get triggered?
    MT4 dos not have OCO . so how do you prevent that from happening ?

    • Ezekiel Reply

      It depends on what trading style you prefer.

      1) You can manually close the other order once one side is triggered.

      2) You can keep both order as it may trigger the buy order first, and then to head down to trigger the sell order and go down all the way.

      It all depends on where do you place your profit target and what is your plan or target that it will hit.

      Both option 1 and 2 works. It depends on situations and your trading style.

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