Apr 21, 2019
In Price Action
Below are some key levels that may provide trading opportunities in 2019. Thought this may be of some benefit. All major Forex levels have been taken from the weekly or monthly charts...
Mar 22, 2019
In Forex trading strategies
I have been trading Forex for many years. I have tried numerous trading strategies - I know what works and what doesn't. The best strategies are those that give you an edge but are easy to follow. They allow for some discretion but are heavily systematic. They provide regular trading opportunities without the need to risk a lot of cash or scalp the markets. Sounds like a holy grail right? Well, any trading strategy that is profitable is a holy grail, right? A profitable trading strategy provides unlimited returns without the need to leave your home. Whether that is 10% per year or 1,000% per year, it is a holy grail system. So, what is this trading strategy? Just buy my course below and find out... Haha, got ya. Not trying to attack any trading educators that sell courses, there are some good ones out there! Just trying to be funny. So, in all seriousness, what is this simple Forex trading strategy? I call it the rainbow pullback strategy. The basics What goes up must come down! In Forex, what goes down usually comes back up too. The strategy is based on this concept. We are looking to trade against the trend and get on a retrace move after a major swing. Not looking to make much but the win rate and trading opportunities are very positive. How do we do this? You will need 7 simple moving averages; 225, 200, 175, 150, 125, 100, 50. These should be coloured as per the rainbow respectively. Below is a screenshot of how your chart should look... (excuse the RSI) Entry Once all the colours of the rainbow are clearly in order, you are looking to buy. Once the colours are in an inverted order, you are looking to sell. A price action setup is the trigger. A pin bar is ideal. Exit Profit can be taken each time price reaches one of the moving averages, say 15% at the 50 SMA, another 15% at the 100 SMA, another 15% at the 125 SMA, and so on... The logic Once "the rainbow" is clearly showing, price will either be strongly overbought or strongly oversold - price will be due a retrace move. This is the move you are aiming to get one. Examples Below are some examples of trades. This strategy works but it does require some patience and control, just like you Forex trading strategies. A Word of Warning This is obviously something basic and you are going to have losing trades. I suggest you use this strategy as a foundation to build on. Add your own extra rules, perhaps an RSI or other indicator. Feedback please!