"Free Forex Trading Strategies Daily from Asia Forex Mentor"

asiaforexmentor

Active Trader
Sep 24, 2010
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Forex trading strategies: Top Down Approach

Lets look at a recent pair Eur Gbp. When we trade forex, we would always want to trade with the main trend. Even though it is an old say “trade with the trend” or “the trend is your friend”. Sometimes, it is always the simple things that works.

In this pair. As we can see from the chart above – Eur Gbp Daily Time frame.
It shows a lower lows, and higher highs – drawn by the circle in the chart. This represents an up trend.

Therefore, we would want to zoom down the time frame to look for price action + confluence entries to enter.

Lets look at the 4hr chart:


In the chart above, i have highlighted 2 pin bars in the blue boxes.
Those are good possible entries since it is form at the low of an uptrend.

Remember, it is always best to enter at the retracements of uptrends or downtrends.
And it is in confluence with the price pivot at 0.83300.

Lets look for more reasons – confluence to enter the trade. Remember, in forex trading. It is about probabilities.
The higher the probabilities, the greater the chance of winning.

Lets zoom down to the 1hr time frame:


in the 1hr time frame. Thats great news to see.

And, it is in confluence with the 150 moving average acting as the support.
Therefore, whichever pin bar we use as the entry point would still end up well.

To conclude, in this trade the reasons for entering are:
- The pair is in an overall up trend
- Pin bar in the 4hr time frame
- Price pivot in the 4hr time frame
- Pin bar in the 1hr time frame
- 150 moving average in the 1hr time frame

Point to exit as shown is the price pivot at 0.84000 which is a resistance area for the previous highs.

In this trade, our risk reward ratio is yet again a 1:4 ratio.
Splendid it may seem, but these are the trades we take always. Which accounts for our account size Growth!

To find out more about our Asia Forex Mentor Price Action forex trading course – click the link below.

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asiaforexmentor

Active Trader
Sep 24, 2010
3
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32
What is Price Action?
A lot of people have this question in mind, what exactly is Price Action.
And why is Price Action King in Forex?
To answer the above question, i start off with talking about indicators.
There are tons of indicators out there, be it forex or others. They work mostly the same way.
And there are new indicators coming out every other day.
Alot of traders when they first started trading forex, they have tons on indicators on their charts. Trying different combination of which works best for them. And at the end of the day, they get confused all over as one indicator may be telling you to go long, but the other is telling you to go short.
Which will result in you making bad decisions and end up blowing your account with a frustrated mind.
Why does it happen this way? Indicators are derived from the chart movements. Some indicators react faster, some slower.
However, as they are derived from the chart movements. They are 1 step slower than the chart. Which is in fact Price Action!
Price Action leads the indicators, and when price reverses it movement from short to long (example). The indicator which you are watching is one step too late. And by the time the indicator confirms it is going short, Price Action has taken the market to go Long.
This happens most of time, if not all of the time.
Therefore = ALL INDICATORS ARE LAGGING INDICATORS!
PRICE ACTION IS WHAT LEADS THE INDICATORS, IT IS KING IN FOREX!
By understanding Price action in forex trading, we are able to understand the ENTIRE PICTURE of the market.
WHY is the market moving up,
WHAT causes it to stop moving,
WHY is the market reversing
WHY is the market in consolidation
IT is like reading a book once you have mastered price action in forex. And the best thing is, It is not difficult!
It is even easier than you reading an indicator.
And when you mastered price action, with combination of our system. You will almost be able to pick absolutely MARVELLOUS TRADES all the time. CONFLUENCE is the King of the game. This is what equates to our high probablity trades with a high winning ratio.

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Hosanna

Active Trader
Oct 12, 2010
2
0
32
Finding the right Forex Mentor can be a challenging task, and can cost a fortune to find the right Forex Trading Course that suits you. Problem these days, the type of Forex Training Classes available will not provide you with the type of Forex Trading Education you need to be able to grasp the concept easily enough to start trading live.