Blog is about Forex Trading for beginners. . Build forex trading strategies and make a living with Forex Trading.supply and demand price action, supply and demand zones, Price Action Techniques & learn to trade like banks and institutions
Tuesday, November 24, 2015
Sunday, November 08, 2015
Price Action Strategies for Beginners l Trading Reversals And Rejections
Blog has not updated since last few days, the reason was end of the months and lot of action and also my busy trading schedule.
There has been lot of talk around of ECB Stimulus and momentum again shift towards the US rate hike after the tremendous and healthy NFP report, which has given new hopes to US population to see the first rate hike in about more than a decade.
I am really in favor of rate hike because since US decide to end stimulus and bond buying program the only reason that they don't lift-of was unemployment and housing market and both of them has decent or say excellent recovery and now the Yellen and Fed members has not too many things to think about and coming Christmas would prove to be the gift of Rate hike.
Now, I would like to tell you that I have just recently decide to put some charts on board, which has really moved a lot out of large consolidation and given new opportunities to everyone but those who still looking for another technique may be still for methods that they can adopt to give kick start to their trading which has not happen for them in years.
Ignore Demand Scenarios and Price Action Basics
In the chart below, gbp/usd has shown us the big way we should approach a technical chart and we don't need to put any Indicator on the board, to succeed and to see why Price behave in such a way which can give us some idea how price use to behave violently when it revisits such areas.
Take a look at the chart Below
This chart has everything, whether you talk about Ignored Demand and retest after buy orders and If You want to trade support and resistance there was flip at lower high and then decision made again and You do get a clue that If there is lot of supply in the market market does not really wait for a pause and recent drop in Sterling is 550 pip drop and from decision it has already drop 250+ pips.
But what was crucial for me, a clue prior to release of NFP which means BOE policy decision was most important and single currency pair need local or individual guidance more than it depends on relative cross which was in this case and that is a big lesson for traders who like to trade only dollar and concern about what is happening with another global economies and that is why usd/jpy moves a lot when NFP data released.
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