Forex Price Action Trading Strategies
Pls read the previous post first before reading this.
On the last post, we did a breakout trade pending order sell / buy limit.The sell trade triggered and thus we closed the buy pending order.
As it happens almost all the time as i have mentioned, when price range for a long time in an consolidated area.
It will finally breakout into some nice trending move.
We caught the sell trade and we have taken either Full or Partial profit at the confluence of the 150 moving average and the 365 moving average.
Remember what i always said about giving price some leeway, therefore we would have placed out take profit area slightly above the 150 moving average.
108 PIPS! Not bad…
I do not like to post live charts often as i do not want you guys to rely on me by following my signals.
I really want you to learn how to trade on your own. This is how you can make forex a VERY GOOD LIVING!
Next Advanced Article: Breakout + price action: a burst in the making