How to Let Profits Run
I would like to show you an example today of how to let your profits run in the forex markets by using price action to guide you. I will do this via a trade example on the EUR/USD pair, which for those of you that still don’t know is the pair for the euro and [...]
I currently have a live trade in play on the GBP/JPY pair (the exchange rate between the British pound and the Japanese yen), and I would like to talk you through this trade setup right now. If you take a look at Figure 1, you will see the trade setup in question. This is [...]
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There are two basic types of trading styles in the forex markets (or indeed any other kind of market) – these are ‘trend trading’ and ‘contrarian trading’. Trend trading involves trading in line with the dominant trend, while contrarian trading involves trading against the dominant trend. Different types of traders and personalities trade in [...]
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I have another example for you today of a pin bar trade with the dominant trend, and once again, this example comes on the EUR/USD forex currency pair (the exchange rate between the euro and the United States dollar) via forex testing software Forex Tester (www.forextester.com). If you take a look at Figure 1, you [...]
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Figure 2 shows yet another good example of a pin bar retracement entry on the EUR/USD forex currency pair. This time, the pair is in a very strong trend, with the 8-day exponential moving average crossed below the 21-day exponential moving average and a very powerful bear trend is in place. A nice little pin [...]
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I currently have a live order on the EUR/USD forex pair (the pair for the euro and the United States dollar), and I would like to talk you through the ins and outs of this setup right now. First of all, take a good look at Figure 1. This is a macro view [...]
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Today, I would like to talk you through a very specific trade setup – which is the 50% retracement entry on pin bars with the trend. Although this trade setup has a little more risk attached to it due to the retracement, I like this setup because it provides a very good risk-reward scenario. [...]
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As well as trading inside bars in line with the dominant trend, you can also sometimes add to this and trade inside bars at significant areas of support/resistance. Here is one such example of this kind of trade. Take a look at Figure 1. This is the daily chart for the EUR/USD pair (and [...]
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One of the things that I have not talked about much is the volume indicator in the forex markets. To begin with, although we call it a ‘volume indicator’, it is not an indicator in the sense of all of the other indicators (like MACD, RSI, or stochastic). This is because all of the other [...]
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I am currently testing inside bar setups on the forex testing software Forex Tester (www.forextester.com), and I have another example of how to manage an inside bar trade on the EUR/USD forex currency pair (the pair for the euro and the United States dollar), which dates back to 2002. If you look at Figure [...]
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