In our previous videos that spoke about different trading strategies based on few notches and EMAs.
Now in this video I’m going to talk about price action strategies and how it is based on market trend as well as price psychology.
When I mentioned price psychology is basically based on a specific basic strategy that many learn throughout the trading career.
If we go into a chart, this trading strategy is mostly known as double top.
A double top is for selling traits and a double bottom would be for buys.
So in this case I will now go I’m going to refer to the double top for the sake of the video .
So that a double top sell order is basically once it reaches the previous high then as soon as he reaches the the previous high then you sell into the market so the reasons why are this video is I’m going to tell you what not to do with this free and big strategy that we all heard about so in my personal opinion I usually wait for a favor account just like we can probably see it here we have a fav breakout and it quickly recover the area from the following previous high so by having this uh this example the video that I recorded trading was based on this bre was high so why it’s not the same as this one that in this case it did work after a favor right now what is very simple in my peer review in my previous our videos I speak about the EMA the MS and theFibonacci retracements I also speak about price momentum a strength in the market after this break down as you can see right here based on these on this candle in 30 minutes oh wait a minute and then we can also see the retracement to the six hundred percent as well as the 21 EMA so in this case I had no reasons to sell the top of the market or the previous high so by keeping my bias to the four looking for more loans in the euro dollar then I’ll go over into the volume two spot in a specific area to go for a price action trade so we’re going to jump into the value software which is like blue sea de and based on the based on the previous reasons why not to sell the market I don’t see why it was good to still buy the market even though it was at the highest or the previous stage so I see volume as my trigger and therefore I opened a long trade I open the alone tray and basically just I just go ahead and write the market trend as soon as I see more volume into my practice action tray I move my tray profit so by moving my take profit I’m basically going accordingly to the price action of the tray as well as the volume that filters the market therefore I know more or less how much I can really expect from the market and also get the best momentum on this breakout trade finally after a moment a profit to a higher level I just way onto the volume continues the momentum to the upside and basically just fills me on the on this breakout straight so target our chief on this straight just but basically knowing the buyers in the market and using all the resources to validate new entries guys you are most likely to succeed by just writing the market trend finding spider you feel comfortable to trade with and get the most out of each trade.