Understanding price action means collecting pieces of puzzles to fit them into the overall context l Forex trading without indicators

While trading is not the difficult but even as not as easy as we first anticipate while we make decision to trade Forex, We build several forex strategies, search several resources online for knowledge and opt for different style of trading with taking help of several indicators. But none of them work at all and atlast we left with nothing but to start it all over again.

Chart should be clear as crystal and context should fix with every price action move

While I spend years looking for help and certain methods to help me build any system that can help me make some money and built a successful career in Forex and Future market but all those years.

Let's understand the whole chart step by step and see what are the rules we need to know to use supply and demand in Forex trading. First of all we saw a strong bearish pressure and a recovery which calls it bearish flag and this bearish flag has two strong supplies as mentioned in the above chart.

While price test the first supply and got rejected and found demand and when price test it the second attempt then because of the fact it was consumed so price had to find demand at the last big orders where price spiked off. After price went through this first supply it met with the second supply area and the rejection was obvious but we never expect them in real as price can ignore strong supply and demand areas anytime.

While price rejected of this supply it use to behave at the previous supply turn demand and price found new buyers there and now we see the approach to the real supply of the flag which was also a strong bearish pressure and top of the bearish flag and approach to this flag was quite compressed and all the orders get filled and we can short at this strong supply when we have such context fiting into the background and we don't need any indicator and trendlines to tell us what to do in such scenarios.

In the following video you will Learn and understand How to read a currency chart with no help of any indicators and how it all fit into context with no risk

Forex trading strategies for beginners l Supply and demand rules to trade

I will update the blog for the rest of the month to help you find imbalance and some rules you need to follow to trade supply and demand in currency trading. It is not that difficult to trade currency with supply and demand but still it has to be patience that you need to test everytime you find setups on a chart.

Risk off rallies in Gold futures targeting 1306, fed minutes eyed

It was quite a busy month of october with a lot happening around the world whether there are talks of supply cut of crude oil or us election vote prediction.

But In this risk of rallies us dollar bears and gold future has benefited the most but as we all know that three day federation meeting is about to finish today and focus is once again shifted on rate hike and uncertainty of us election and crude bearish rally would put a lot of thinking and I would expect these risk off rallies might continue till the us voting.

Speaking of gold futures bulls make a clear breakout and retest of 1274 area and retest of area with strong bullish momentum once again put bulls in charge for a test of 1306 level and I would recommend to put stops close as possible and use adequate money management in order to trade correction or reversals.

Trading would remain volatile as we are approaching Us election next week and investors and speculators will keep shifting their positions in this risk-off rallies as crude oil supply cut talks are in the news as well and meeting on 30th November will decide if there would be a supply cut of 4% set initially but there would be a lot of amendments can be made as Iran and Iraq are all set to enter oil markets with much cheaper crude prices and lot of consumers who are using high volume of crude have shown interest to get supply from much cheaper suppliers.