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How to make money in forex - asia forex mentor
How to make money in forex - asia forex mentor

How to Make Money in Forex

When we trade forex, I believe we all want to achieve one thing:

That is to make money in forex.

It’s pretty obvious isn’t it.

However, the fact is, most of the traders aren’t successful in live but they make good money in demo.

Why?

The answer to this leads to the topic:
How to Make Money in Forex

You see, when we trade our demo account.

We are pretty much in a relax state of mind.

And when we trade, we have little consideration – after all, it’s not real money!

Therefore since it’s not real money, we are not overly involve mentally.

Even if we make a loss, it’s not our money. So we feel none to little pinch.

When we have that relax state of mind, whenever we put a trade that has been planned.

Eg. we have set our profit target and our stoploss point.

We will let it run.

And sometimes, due to other work commitments.

And as we are still demoing forex (forex is still just a “play thing”)

We would come back 1-2 weeks later to check the market and the status of our trades.

And only to realise that our trade has been closed and our account is making money.

And there could also be occasions where we place a entry trade and decided to trail.

But we forgot about the trade and 2 weeks later, when we turn on our forex trading platform.

Wow, we have a nice surprise! Our trade is still running and with a HUGE profit!

Forex is not that difficult after all!

Let’s go LIVE & Make some Money

So, we fund our live account.

And we start to get all nervy and anxious.

BECAUSE WE ARE ABOUT TO MAKE SERIOUS MONEY!!!

And as it’s real this time.

We decided to pay more attention in forex.

Find more opportunities to maximize our returns.

Because the last time in demo, we were just trading normally, without much effort and wasn’t really finding trades.

So this time round, if we pay more attention and start finding trades. We will make more money!

EASY!

We started getting into trades, and we started watching the trades we entered.

With every dollar going up, we feel great.

With every dollar going down, we felt the stress and the uneasiness.

And so we started monitoring the trades and try to get out before it hits our stoploss.

And on another case, get out for some quick money first although its far from our take profit point (because it might reverse down, right?).

And then after losing a few trades, our capital went down.

We figured, let’s increase the lot size!

And make back the money lost, and get more profits this time.

And before we know it, our account got heavily depleted.

What Went Wrong?

We were making good money in demo, and infact making great returns on demo.

But in live, we are losing money.

Are the forex brokers eating our money? Are they cheating us?

Is the market against us because they know that we are trading live this time?

The answer is none of the above.

The fact is, nothing changed.

YOU CHANGED.

 

– You went from relax to anxious.

– You went from not monitoring trades to constantly monitoring of trades.

– You went from not touching trades that you entered, to editing your trades and get out for a quick profit or a small/huge loss.

– You went from trading little, but prominent trades to finding lots of trades to enter so that you can maximize the returns.

– You went from calmness to greed and then to fear, then to desperation.

These are what that caused your failure.

Let’s Work Backwards

And if that’s what caused our failure.

Shouldn’t we reverse engineer it and work backwards.

By entering a trade with a relax state of mind, and only finding prominent trade setups.

Spending little time monitoring the market, turn on forex only when you are free.

Once entered a trade with the preplan take profit and stop loss levels all set.
– We forgot that trade. (it’s erased from our memory)

And then when we are free again, we find another good trade and we enter again.

Because forex is not that important, and we are only “testing” this new toy “part time”.

We don’t need an income for this.

We are only playing a game of forex during our free time.

There is no urgency behind it to grow our account.

And so we pay “minimal attention to forex”

Try this

If you are too stressed out in forex, and spending too much time in the market.

Try this for a while and see how does it work for you.

I’m not saying to totally neglect forex, the main idea is to not let forex affect you in any way.

Whether it’s a profit or a loss. It’s of little significance.

And you can afford to forget a trade you entered for 1 to 2 weeks and then come back again.

The idea is to make it so INSIGNIFICANT.

When that mindset is built into you.

You will have less feelings and emotions when you trade.

And you do not monitor or touch your trades anymore.

As ironic as this sounds.

It’s true.

The take away is:

Make Forex INSIGNIFICANT in your life. Just treat it like a game you play on your free time. Like a mobile app game.

You see, people take Forex Tooooooo SERIOUSLY

When that happens, the results are disastrous.

So take that demo trading mentality all again and forget that your account is real.

It’s now just a “demo real account”. Just a toy. Just for fun. :)

cmt ppt forex trader asia forex mentor
cmt ppt forex trader asia forex mentor

2 Main Types of Forex trading methods

In this forex trading article, I’m going to talk about 2 main types of forex trading methodology.

Yes, I do know that there are thousands and if not millions of forex trading strategies out there. And these forex trading strategies are also categorized into these 2 main types of trading methodology.

Which are:

1. Current Market Trades (CMT)
2. Pre Planned Trades (PPT)

Now note that in these 2 categories, there are also many forex trading strategies built among it. However, most strategies are built on current market trades (CMT).

Let’s elaborate:

Current Market Trades (CMT)

Current market trades are the most common trading strategies taught in the market. Which could include:

Example-
1) Crossing of moving average – when a certain moving average crosses another moving average. It is an indication to sell or buy.

2) Indicators that are over bought or over sold and combined with another indicator to confirm a “Sell or Buy trade”

And of course many more.

The 2 examples above are CMT. Which means, they are formed when the market is moving and you’ve to be there when it happens. To put it in another way, these trades setups are not planned. For example, you cannot plan when the moving average will cross. They are formed by the market as the market moves.

Now let’s talk about what are pre-planned trades before we discuss further.

Pre-Planned Trades (PPT)

What exactly are Pre-Planned trades. PPT are essentially trade setups that you have planned and waiting for them to reach your desired location.

Let’s use a basic example: Eg. you have decided that eg. the 1.500 level is a strong level of support and resistance. And thats because the forex market has been respecting the level alot and there’s always a rejection when price reaches that area.

Now this can now be considered a Pre-Planned Trade. Meaning we are now waiting for the market to reach the 1.5 level. And when it reaches the level, together with price action and other confluence. We can take the trade.

Let’s talk about about PPT

Professional forex traders who trade for a living would have a similar trait. They do their analysis before a trade. And they will usually do a weekly round up and setup Pre-Planned trades for the coming week.

This is what we do. So when we trade for the new week. We already know what pairs we are trading, where to trade them, how to trade them as  we had already evaluated them before hand. So there will be little surprise and little emotion going on when we take out trades.

It’s because everything is PRE PLANNED!

In comparison to Current Market Trades (CMT), there will be lots of deviation in the market and lots of discretion. These aren’t pre-planned and they usually require a fast analysis (as the market moves fast at times) and also a thorough analysis before taking the trade.

Now the question is, which side are you on currently?

PPT, CMT or a combination?

Remember, forex trading is a career. And since we are trading for a long time, would you want to trade with higher certainty and lesser surprises and emotions?

If it is, then PPT is the way.

Now with that said, I will say most who starts learning about forex and starts trading in the early stages will be in the CMT category.

And as their trading journey goes, the ones’s that are still continuing trading, some will move over and starts trading the PPT way.

In my opinion, PPT is the way to trade. Lesser stress, lesser discretion. Higher probability of winning.

So if you are still trading the CMT way, you can now look into the new area – PPT and do a combination of both!

Your friend and forex trading mentor,
Ezekiel Chew

forex trading secret lottery ticket asiaforexmentor
forex trading secret lottery ticket asiaforexmentor

Would you like to know the BIG secret of Seasoned Forex Traders?

Often you will see seasoned forex traders – I mean those who are making big money from forex trading (not those who are seasoned but not really making a lifestyle)

These guys seem really FREE!

They have lots of time to do other things, enjoy life, entertain BUT they never seem to trade.

However, these guys really do make BIG money in forex.

So what’s the deal?

In my last post –Forex Trading Secret – Tortoise and the Hare Story, I’ve uncovered the key difference of how these professional forex traders trade VS new forex traders.

In this post, I’ll be uncovering the real trading mindset (strategy) they have that makes them really profitable traders who makes BIG money.

Do you want to know it?

I’m going to reveal it to you right now. But i need a favor from you. I’ve locked this content because this is really a game changer. Do support us by clicking on any of the buttons below to unlock the content.

This is going to be a major mindset change, once you learn this, you will think, act and trade differently from now on. And your trading account is gonna grow by leaps and bounds!

The Secret of Seasoned Forex Traders

Forex trade setup of the year - asiaforexmentor
Forex trade setup of the year - asiaforexmentor

Million Dollars Trade Setup of the Year?

There’s something i love about forex. It’s that it has the opportunity to make you and anyone in the world RICH with just 1 trade – if they get in at the right place at the right time.

Think about it, if you got in at a spot where you place a buy.

And right after you place the buy, it went up.

And day after day, week after week, it keeps going up.

The higher it goes, the more money you make.

You can trail after the bull run until it stops, and that’s where you get out.

Meaning – YOU can literally turn eg. a $1,000 into $100,000
or $10,000 into a million dollars!

Well I know, there are many things involved: risk management, money management, leverage etc.

But all i’m saying is that, IT IS POSSIBLE.

Just like the trade i did over here:
http://www.asiaforexmentor.com/followup-on-last-month-950-crazy-forex-trade/

In that trade, i said i wanted to see if it’s possible to get this out for a million dollars.

It didn’t.

The time i got out, it was around $670k.

That’s still not too bad. And this is exactly what i meant.

This is the reason why me and many other successful forex traders in the world love trading forex.

It’s probably the fastest vehicle out there that enables us to make big money – FAST, just like striking lottery.

Do you want to achieve a similar result like i do?

First of all, i want to thank you for following and supporting Asia Forex Mentor.

If you haven’t already done so, do “like” us in our facebook page below.

Now that you have “like” Asia Forex Mentor.

I want to share a potential trade setup with you that has the potential of replicating the similar results i achieved in the example earlier.

Are you ready?

Here’s the pair: GBPUSD

forex trade setup asiaforexmentor singapore

“Click on the picture to enlarge it”

In the chart, I’ve drawn a red line in the middle.

That red line depicts the top half and the bottom half.

From 2003 til 2008, GBPUSD was in an uptrend. And that uptrend lasted for 5 years.
When the market crosses the red line in 2008, that’s when the GBPUSD went into a downtrend.

And that downtrend lasted from 2008 til today (2014).

A whopping 6 years.

During this 6 years, it has been consolidating sideways.

It tried getting back up but was always being blocked by the red line.

Which was our pivot level (a support/resistance level)

And that line was formed when it first made a low (marked by number 1 in the chart)

That became the support level.

When it broke in 2008, it came back up to test the red line again. (marked by number 2 in the chart)
and it got rejected at the exact level.

So now the red line has now turned from an old support to a resistance level.

Right now, the market is looking to break out from it’s down trend after consolidating for 6 years.

6 YEARS IS A LONG TIME

Usually with a consolidation for such a long time and when it eventually breaks.

It’s going to be a good strong break.

The upside of it is huge.

Look at the big empty space on the right (marked by the red arrow)

It has the potential to go all the way up.

Now i’m not saying that this breakout could actually breakout this time.

But if it does, the upside is extremely huge.

On the other hand it could also go back down – forming a false breakout.

As a trader myself, i’m hoping it will go up.

And that’s where we will ride it up and trail it for as long as possible.

A little “insight”

Here’s another thing that you could look at.

If you see the recent history.

The chart has been making a green bar, followed by a red bar, followed by a green bar and so on.

Now with that little “insight”.

The next bar could be the start of the breakout. And that could form a green bar on the monthly time frame.

A possible “Million Dollar Trade”

For sure, I’ll be watching this trade very carefully.

Because the profits from it could be huge, which would lead to possibly a new property.

And if you don’t already know, I have now for the very first time in years opened the doors to accepting new students. The number of students that I’ll be accepting is small, MAXIMUM 10. And I train these 10 guys through an intensive 2 days live training in singapore where i will go through the exact system on how i trade and devour the live charts with the real background analysis i do and how to take trades exactly.

If you are interested, you can find out more here Forex Trading Singapore.

Do Share The Wealth

If you find this setup helpful, do “share” this post with your friends & love ones so that they can profit from this as well.

I alone can only reach so much people, and i hope that you in turn, can share this trading opportunity to the people around you.

And if this trade really turns out positive, i’ll be waiting for a nice drink with you here in Singapore.

So do click on the “Share” button below to share the possible “Million Dollar Trade”

Many people are asking now. With the recent gold drop.

Should i buy gold?

Being a forex trader for many years. Gold is one of the pairs that i do trade with.

Let’s have a look at the chart above. click on the image to enlarge the chart.

If you do not already know. Gold is marked as the symbol XAUUSD in forex.

I have drawn a red line at the 1523 level.

This is a very significant level for Gold.

If you look at the left hand side, you can see that the level is a strong support level and it has rejected the price 3 times in the last few years.

When such a significant level happens, and if there’s a break in the support line.

It shows that the market has taken a downturn and is no longer in an uptrend.

Gold Drop – Should i Buy Gold?

This is what exactly happened to Gold – XAUUSD

Just days back, gold closed below the red line.

When that happens, you will know that the uptrend era for gold is over.

Right after it closes below the red line, the next bar drove it all the way down.

With gold now at 2011 prices. Is it a good time to buy gold?

Be it physical gold or forex trading?

My answer will be no. (now note that i may be wrong here, just posting my opinions on what i see in the charts)

When price has broken the red line. The bull run for gold is over. And we should not expect gold to rise up sharply within the next few months.

At it’s best, it will be in a side ways trend.

Look at the weekly chart above. Gold stop right close to the 365 moving average (depicted by the white line)

That is what’s holding it back. And it should hold it for a while.

And if it does break below the white line.

BYE BYE gold! (this may be bad news for people holding gold. But you got to face the fact my friends)

Gold Drop – Should i Buy Gold?

That being said, it is not wise to buy gold at this moment in time.

Wait to see what the market will do.

A good place to stock up gold is when it goes to the 800-1000 level mark. (if it does go there)

In the long run, gold is STILL a solid asset. But if you buy it now and if it plunges to the 800-1000 mark.

You’ve got to hold your gold for quite a number of years before you breakeven.

Talk Soon,
Ezekiel Chew

Forex course

Christmas is coming and before you know it, a year has pass again.We are closing on 2012.

Let’s reflect on what have we accomplished this year shall we?Think about it. Be it in life, career, love, anything.What have you achieved this year?

As for myself. The reason why i hadn’t been posting as frequently as i should is because i have a new entry in my life this year – my daughter Having a baby can be quite hectic. Sleepless nights, the draining of mental strength when you keep entertaining them, etc.

Nevertheless, it is fulfilling and the joy that is given surpasses all.Aside from family life,

AFMManaged fund management is also launched to the public this year and the results & response were great.How about you my friends?Did you made 2012 a fruitful year?Or you should have done & accomplished more things than you had.

Forex Trading

Since it’s December now. And it’s usually slow in the forex trading market.It’s a good time to stop trading and to relook at how you have been trading the past year.If you had kept a journal of your trades, that will be easy to track.If you had not kept a journal, make this one of the MUST DO’s in 2013.

Scan back on the charts of the trades you had taken this year, or should had taken.Find out what worked for you, and what didn’t.

Usually there are a couple of same few reasons why the trade you had took didn’t worked out:

1) You entered on impulse and it wasn’t a good trade at all

2) You failed to look at the higher time frame to see that there’s resistance / support blocking your move

3) You trade right into a major news time. Where you got caught out by the news with a big spike

4) If all the above isn’t the reason, then it could be just how the market works. Remember the market CAN do anything.
Even if all the signals and the tell tale signs were correct, the market can still go against the intended direction.
But that’s just how the market works, the good thing is: This is on the lower probability side.
Remember, trading is all about probability. So long as you take only the good trades. Then your profits will outrun the lower probability trades that didn’t turn out right.

With that said, take this time now since it is the end of the year to reflect on your trades you took this year.

It’s just like working, or managing your business.If you are always working, day in day out. And fail to look at the big picture. You cannot see any growth.Because all these while, you may be doing the wrong thing.

OR

There is actually extra ways and methods and strategies you could apply to enhance your growth. Which you would have missed out if you are not looking at the big picture once in a while.

So take the time now this holiday seasons. To reflect, to learn extra ways to enhance your growth.
Even if you know alot already, there’s always something that you could get from someone / some courses / some trainings.

Even the wealthest have coaches, attends private seminars and are constantly learning new ways to enhance themselves and their business.

With that being said.I should stop writing now and GO reflect & Learn!

If you are not already a member of our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies | system that i personally use to be consistently profitable – You Should!

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Do “like”, “comment” and “share” this if you find this forex article helpful. =)

Forex Trading Psychology

People can always relate FEAR to forex trading.
The fear of losing money.
The fear of losing that trade which is too much for you to handle.
However what most people do not realise is that there are different levels of fear.
Eg.When you can afford to lose that trade, (which you still do feel fear)
you are still able to think rationally and life goes on.
(ALTHOUGH YOU STILL DO NOT WANT TO LOSE THAT TRADE)
In the example above, fear is definitely in our emotions.
But because the level of fear is low, we are able to handle the fear and still think rationally.
HOWEVER,
Eg. your forex trading capital is $10k.
Your current open trade is now losing -$5000.
And that’s half of your capital.
Or worst to say, that’s half of your life asset. (Money you can’t afford to lose)
Forex Trading Psychology – Fear kicks in. (This time in higher dosage)
Then you start seeing your open trade grows to negative -$6000.
Your Fear level increases, you can feel your heart beat racing.
And sure enough, your worst fear arrived,
The trade increases to negative -$7000.

Forex Trading Psychology: Levels of FEAR

Your level of fear had reached its final peak level.
(you know it when you feel):
– Desperation
– Your face turn black
– You isolate yourself
– You start blaming people, things, events
– You pray
When you feel this level of highest fear.
You can’t think rationally any more.
You know that you can’t think rationally any more when:
– You have decided to increase lot size on your next trade
– OR You decided to go ALL IN on the next trade
You want to get revenge on the market.
You now feel HATE and ANGER.

Forex Trading Psychology: Levels of FEAR

And sure enough, when you start to do things irrationally.
That is the downfall of your trading career.
So you see, there are different levels of fear.
And the highest fear can lead to other emotions like ANGER & HATE.
When you start to do all the above.
You know you have reached your highest level of fear.
It is time to stop trading for a while.
Go get a rest, a shower, a walk.
When you feel that you have calm down and begin to accept things.
I want you to think of what went wrong. (not to blame others)
but what mistake did you made in the trade.
Good chance is that you are risking too much.
And i want you to WAIT and NOT trade until your feeling of hatred, anger and revenge is gone.
That is when you are able to think rationally and go back to fix the problem.
Remember, forex is a journey and not a one time success.
Most traders want to make big bucks in a few trade. But eventually lose it all.
Professional full time traders are ones who trade consistently and happy with reasonable profits.
Let me know if you had experience the above before and what you did, or what happen?

Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies | system that i personally use to be consistently profitable.

See you on the other side my friend,

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Do “like”, “comment” and “share” this if you find this forex article helpful. =)

The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low

The Forex
In the forex market, American dollar gained again the euro after mixed economic data. According to Commerce Department data, bookings for long-lasting goods advanced 3% after rising 4.3% the prior month, this is the biggest back-to-back gains in almost a year. Figures from the Commerce Department showed Purchases of single-family properties decreased 2.2% from the prior month to a 307,000 annual pace. Latest report released by Conference Board indicates that the U.S. economy will keep growing, the index of leading indicators rose 0.4%. Data from the Labor Department showed jobless claims rose by 21,000 to 377,000. Even though there are some improvements, the Federal Reserve is still cautious. In its latest statement the Fed said “Strains in global financial markets continue to pose significant downside risks to the economic outlook”.

The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low

The forex market investors shifted their interest to safer assets. Uncertainties in the global economy have been increasing the demand for gold. The commodity currencies have been getting stronger as well. The day after the Federal Reserve’s announcement, gold jumped to its biggest one-day rise in three months. Gold prices are also getting support from options traders. Meanwhile, A poll carried out by Reuters showed most of the economists expect gold to continue its bull run in 2012. Commerzbank analyst Daniel Briesemann said “At the moment everything points to even higher prices, given the strong risk appetite, the better mood among market players, the strong equity markets and the weak dollar”. Analyst at Barclays Capital, Suki Cooper said “Coupled with continued central bank appetite for gold, the broader macro backdrop remains conducive for gold price gains, given negative real interest rates, concerns over longer-term inflationary pressures and uncertainty surrounding the financial markets and economic outlook”.

The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low

As fears mount that the eurozone debt crisis could trigger a global recession, all eyes are on Germany to take an even stronger lead in the rescue efforts. European leaders and the International Monetary Fund want Germany to increase its contribution to the European Stability Mechanism. But lately German Chancellor Angela Merkel disappointed these expectations. Neither eurobonds nor more stimuli that would see the ECB print more money are acceptable options for Germany. The forex market investors think the problem is that the austerity that Germany wants will push Europe into a deflationary death spiral, then the EU economy will contract and tax revenues will fall.

The Forex: Gold Rises As Fed Extends Its Plan To Keep Interest Rates Low

By gaining direction from the fundamentals in the economy allows us to enter trades with a solid understanding.
Gold in the forex market is known as XAUUSD.
It is paired with the USD. Therefore when the US release such news in regards to it’s interest rates. We can expect pairs that is paired with the USD to rise. Especially GOLD.
Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Forex Market: Mass Ratings Downgrades Fuel Debt Crisis Concern

Forex Market
Markets are going to remain nervous for some more time as S&P ratings agency punished nine eurozone countries with downgrades and to striped France and Austria of their triple-A ratings. Even though S&P said that Germany’s rating is in excellent condition, the downgrading is likely to have direct consequences for country. EUR/USD had fallen sharply after the statement. Forex market investors should be cautious as the bad news will have more impact on the financial markets.
S&P said “We have lowered the long-term ratings on Cyprus, Italy, Portugal, and Spain by two notches; lowered the long-term ratings on Austria, France, Malta, Slovakia, and Slovenia, by one notch; and affirmed the long-term ratings on Belgium, Estonia, Finland, Germany, Ireland, Luxembourg, and the Netherlands. All ratings have been removed from CreditWatch, where they were placed with negative implications on Dec. 5, 2011 (except for Cyprus, which was first placed on CreditWatch on Aug. 12, 2011)” in its statement. We believe that the negative outlooks for virtually every eurozone country suggest that the debt crisis will remain an issue for the forex market throughout this year.

Forex Market: Mass Ratings Downgrades Fuel Debt Crisis Concern

EU leaders have to act faster and regain investors’ confidence in order to control the ongoing crisis. However, it seems that eurozone chiefs will continue to rely on state level solutions like fiscal union and debt brake. In addition, the downgrade of the nine countries will increase pressure for all of the eurozone countries to solve their budget and debt problems. Some forex market investors think that relations among the eurozone members are likely to become more difficult after this point.
Forex market has been expecting downgrades of France and other European countries, but it is hard to tell how much the downgrades have already been priced in. director of the European Centre for International Political Economy, Fredrik Erixon said “The U.S. is still rightly seen as a safe haven. The U.S. is a big liquid economy with a strong tradition of honoring its debts in modern times and a central bank pledged to take action if needed. It’s different with France in the sense that they cannot rely on strong central bank policies”.

Forex Market: Mass Ratings Downgrades Fuel Debt Crisis Concern

Forex Market
What we can take away from the above analysis is that. With more possible downgrading to come on other European Countries. We will remain bearish when trading the Eur. And to look for opportunities to enter on rebound of the Eur/Usd.
Check out our online forex trading AFM winning Forex Price Action Forex Course where i teach you the exact FULL Forex Trading Strategies and forex trading system that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com

Forex Tips – A Good Forex Setup

Forex Tips
Forex Tips – Example: Eur Cad
I’m going to show you a forex good setup that you should keep in your records for your future forex trades.
In the Forex chart above. We have a highlighted blue box.
It compromises of a:
– long bearish red bar
– Some small bars after the red bar (not bigger than the red bar)
– Followed by a price pin bar (long green color)
This is fact is a very good forex setup alone.
What we have here is a good selling momentum as seen by the bearish red bar.
Then price consolidates for a little while, making small bars inside the previous red bar.
They are preparing for the big move.
And as you should already know if you have been reading my forex trading strategies.
For price to go further down or up, it needs to take a “breather” first.
Then after, we see a forex price action pin bar. This is our signal for an entry.
And we will take a sell position here.

Forex Tips – A Good Forex Setup

Forex Tips
To further affirm our entry, we want to find more confluence.
More factors to support our sell movement.
If you look at the chart, you will see that i drew a White line.
This white line is a previous strong support – supporting previous lows.
And now price has broken the support to make it a new resistance.
And so we have our forex setup at a strong resistance!
Which is a very good forex signal with confluence.

Forex Tips – A Good Forex Setup

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