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Simple Forex Strategy Without Indicators

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What is Price Action Trading? All price movement in Forex comes from bulls (buyers) and bears (sellers).

Jul 14, 2012  Hedging and correlation is a nice thought in Forex. It's a good thing you are using stops. A few years ago I ran into a clever trader who used similar strategies but without the hard stops. He would monitor the correlations. When the trade went negative for a day or two, he would add another pair to offset the losing pair of the correlation. Today we’ve studied another profitable forex trading strategy without indicators called “Inside Bar”. It will perfectly suit novices who want to trade without indicators from the beginning, and pro-traders, if they combine it with any other one ( “The Start”, “Price Action” ). No indicators. No complicated rules. I don’t even use candlestick charts for this strategy! WhaM, a trading system without indicators or candlesticks. If you can read, you can trade it. Click To Tweet. Let’s get to it, shall we? The WhaM forex trading strategy. This forex trading strategy is surprisingly simple. Given the rules.

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When GBPUSD moves up it’s because there are more bulls than bears and vice versa. The Forex market (and any market for that matter) is in a constant state of struggle between bulls and bears. Price action trading is about analysing who currently controls price, bulls or bears and if they are likely to stay in control. If your analysis shows that bulls are in control and that they are likely to stay in control, then you can buy (long). If it shows that bears are in control and that they are likely to stay in control, then you can sell (short). How do you analyse who’s in control of price?

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By using two simple price action techniques. Support and Resistance Areas These are buy and sell areas you can easily identify and place on your chart. Once price hits these areas you know it is likely to stall or reverse completely.

This allows you to buy or sell at the right time. Advanced candlestick analysis This is not that basic doji equals reversal stuff you may have seen elsewhere.

Advanced candlestick analysis goes much deeper than that so that you have a full understanding of what a chart is telling you. Once you understand this, one glance at a chart will tell you who’s in control of price (bulls or bears) and if you should buy or sell. These two techniques make up the core of my price action trading strategy. In fact, those are the only techniques I use to find and trade high probability setups. My trading strategy differs from most courses you will come across as it is based entirely on Price Action • There are NO indicators. • There are NO confusing techniques.

• There is NO stress. It’s simply about reading price and making smart trading decisions. Forex Price Action Strategy My Forex price action strategy was born in 2005 and has been constantly improved over the last 12 years – this strategy has seen it all. It has survived major market changes from the financial crisis in 2008 to the Swiss Franc disaster in 2014, to Brexit in 2016. It really has seen it all. My price action strategy works in all market conditions. From trending markets to low volatility, to ranging, to high volatility, it has weathered it all with consistent profits.

Indicator based strategies work well in specific market conditions. If you have a strategy that works in low volatility markets, it will fail in high volatility, ranging, or trending market conditions. Made money binary options. Price action adapts, indicators don’t!

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Price action doesn’t only adapt to changing market conditions though, it adapts to different pairs, different time frames and, crucially, to different traders. Above all, Price Action keeps your trading simple. In fact, my Forex trading strategy is so simple that you can trade it from your smartphone. I use this strategy to trade on the go – as of 2017. Keep It Simple My Forex trading strategy was created with simplicity in mind. The most common downfall of today’s traders is over complicating their strategy.

What broker to use. So for now, 1. You need to determine how much you can lose. With what amounts to start trading forex. What strategies and indicators to use.

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We have all seen charts that look like this. How can you trade comfortably using a chart like this?

But if the price does a rapid drop, I am protected with a stop loss order like in the example above. The stop loss covered us for the rapid decrease, which even got the price out of the red bullish trend. Exit point of the forex market today. If the price breaks the resistance in bullish direction, then I can reopen my position.

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How can you trade efficiently using a chart like this? How can you trade from your smartphone using a chart like this? You can’t, it is too messy. The core rule of my price action strategy is to keep trading simple. Because the Forex trading strategies that work best are simple. The only thing I place on my charts is support and resistance areas. I use these support and resistance areas in conjunction with candlestick analysis to trade Forex.

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So what does a clean Forex chart look like? Much better than the monstrosity above! This chart is uncluttered, easy to understand and to navigate, with nothing to distract you from analysing price action. This style of trading is quick, efficient, stress-free, and you can do it from anywhere, including your smartphone. So if you want a simple Forex strategy, keep reading.

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