Forex Trading - How to create a rules based trading strategy (50 pips overnight)
Published: 2017-05-31
Status:
Available
|
Analyzed
Published: 2017-05-31
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker's recent Aussie dollar trade generated over 50 pips profit overnight.
"the trade you see on the screen, which made a little over 50 pips so far overnight on the Aussie dollar."
Pending
The current market conditions on the Aussie dollar are prompting consideration of a trading opportunity.
"That's already got me to a point where I'm considering a trading opportunity."
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If the Aussie dollar breaks through current levels, it may reach the 0.746 area.
"we might see if the Aussie dollar starts breaking through these major levels. And another possibility is that we see this market press up into the 0.746 area."
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The 0.746 level on the Aussie dollar is a resistance point for taking profit or opening a short position, with the next zone at 0.75.
"And that's our level of resistance where we'll either be looking to take targets or open a short position. And our next zone is right above that at 0.75."
Pending
An advanced bat pattern was the basis for the speaker's decision to short the Aussie dollar.
"This was the reason I decided to enter the Aussie dollar trade going short."
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The Aussie dollar trade involved an advanced bat pattern at a daily structure level, aligned with the daily downtrend.
"We had an advanced bat pattern setting up right at a previous daily level of structure while the market is in trend on a daily chart going down."
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The speaker will reveal a method for developing a Forex trading strategy.
"I'm going to show you the blueprint of creating a Forex strategy."
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The speaker prioritizes the daily chart for initiating Forex market analysis.
"Most of my analysis starts out here on the daily chart."
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The speaker identified a potential trading opportunity at a specific price level.
"I was looking for a trading opportunity at this level here."
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The market is expected to react again at a previously tested price level.
"we could see a reaction from this level again."
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A specific approach to trading can lead to a reliable and accurate strategy.
"it can create a pretty solid and pretty accurate trading strategy."
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Simple trading strategies can be developed to generate profits in the Forex market.
"it can create some pretty simple trading strategies that you can use to profit from the Forex market."
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Trading on smaller time frames can result in a reduced risk or stop-loss for a Forex trade.
"the stop-loss or my risk in that trade is going to be smaller the smaller the time frame that I choose to take the trade on."
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Certain trading conditions can lead to trades with both high accuracy and a favorable risk-reward ratio.
"that can make for a pretty accurate and not only accurate, but just as important, a very good riskreward on your trade."
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Improving the risk-reward ratio of trades through strategic approaches can enhance a trader's overall profitability.
"it can really improve the riskreward on some of your trades, which as many of you already know, I'm sure can improve your profitability as a trader."
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A new trading strategy recently introduced is performing well.
"I've actually just released a brand new strategy in that program that is going very well."
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