S/R, not news, controls price Monthly charts need monthly stops S/R is usually precise 30:34 19B Support and Resistance What S/R is best? 17:10 17B Tight Channels Micro Channels Tight Trading Ranges Breakout or climax? Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success. If I had to leave you with one crucial piece of advice for your Forex trading career, it would be to drop everything right now and start studying false-breaks and contrarian trading approaches. Feedback on your online experience and video content is welcome on the Trading Course Reviews and Feedback page. Checkout Nial's Professional Trading Course here. He has a monthly readership of 250,000 traders and has taught 20,000 students since 2008.
Therefore, this section will hold additional videos that Al hopes traders will find helpful. Gaps are rarely big 14:35 48B Trading the Open Sessions open time not exact Early high or forex exhaustion strategy low of session 23:40 48C Trading the Open 3 most common patterns Stop orders are better 24:00 48D Trading the Open Context. This is known as reversion to the mean and its something I expand on significantly in my advanced Forex trading course. A failure of the market to close beyond a key market level can lead to a large retracement or a change of trend. This is why its very important to remain disciplined in the area of trading false-breaks, rejections and failures, and why I love trading them so much.
30:24 15B Breakouts Need follow-through Trends always try to reverse Breakout can begin small 26:33 15C Breakouts Breakout usually has 2nd leg Trading Range breakouts 36:45 15D Breakouts 2nd Leg Traps Signs of strong breakouts Succeed or reverse? That price is the result of countless variables, and most of them are unknowable, even to very successful traders. Markets are constantly in search of the current fair price, which is always changing. Every TR has bull and bear channel 35:39 17A Tight Channels Micro Channels What is a Tight Channel? An investor could potentially lose all or more than the initial investment.
Price Action Fundamentals sections explain basic chart reading, and well as how and why markets move. Traders are then ready to study the 2nd part of the course, How to Trade Forex Price Action. Pullback is start of channel Channel becomes Trading Range 43:28 12B Market Cycle Market cycle: always trend or TR Inertia and 80 rule Definitions 1: Trends, swings, legs 27:50 12C Market Cycle Definitions 2: Pullbacks Definitions 3: Trading Range. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Click Here For More Info. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. The key is to understand trade management. Trend, or leg in TR? Now, I am not going to get into all the different versions of the fakey trading strategy today or the different ways to trade it, but you can learn everything about my proprietary forex fakey trading strategy in my professional Forex trading course. Summary of How to Trade 43:45 37B How to Trade Use market cycle Traders Equation and 40 60 Rule Default targets 49:00 38A Trading MTR Tops Higher High MTR Minimum profit targets 22:50 38B Trading MTR Tops Higher probability. It is the power of contrarian trading and using false-break patterns and fakey setups that allows myself and other savvy price action traders to profit from other traders misfortunes. 33:39 48H Trading the Middle and End of the Day Late test forex exhaustion strategy of support or resistance Higher time frame support and resistance 37:22 Swing and Scalp Trading (49-50) 9 videos, 4hr 42min # Video Title Duration (min:sec) Watch 49A.
These false-breaks are huge pieces of evidence for impending market direction, and we need to learn to use them to our advantage instead of becoming their victim. 49:51 09B Pullbacks and Bar Counting Double Top Bear Flags, and Double Bottom Bull Flags High 4 and Low 4 Consecutive reversals 31:39 09C Pullbacks and Bar Counting Endless pullback Higher and lower time frames Countertrend traders. Often contain Trading Ranges Often last several days Usually Tight Channel on higher time frame 32:49 45B Trading Broad Bull Channels Tight on higher time frame Reversals are common, but fail Contain major Higher Lows 22:08 45C Trading Broad. Risk capital is money that can be lost without jeopardizing ones financial security or life style. These are times when the market is deciding whether to breakout or reverse. Look for signs of Trading Range 31:28 47B Trading in Trading Ranges 80 Rule Legs in TR, not in trend Buy in top half, sell in bottom half 37:46 47C Trading in Trading Ranges 2nd Leg Trap Fade.
Heres an example of a false-break in the eurusd daily chart that led to a top in the market and started a long-term downtrend: History Teaches Us A Lesson, its worth noting that on the week famous trader George. Scalping in Trading Ranges and trends Bar size and time frames 33:09 50B Scalping Scaling in and probability Why beginners scalp 20:15 50C Scalping Scalping examples 31:40 50D Scalping Scalping examples 38:53 Managing Losses (51-52) 6 videos, 2hr 50min. Traders have to assess whether a probe is too far or not far enough. Bonus Videos completion data reset The following button/link may clear your data, or may not! The close is the most important level of the day, and often if a market fails to close beyond a key market level, it can signal a significant false-break. Ask yourself how prices reacted during each daily sessionwhere did they close? 19:37 15G Breakouts 5 tick traps and 11 pip traps Fade weak setups 27:22 15H Breakouts Types of big bars Surprise Bars New major trend 2nd Leg Traps and exhaustion Give-up Bars Minor reversal 31:20 16A Channels. They allow traders to enter with tight stops, and therefore have the smallest risk. We really have to use logic and counter-intuitive or contrarian thinking to profit off of the weak-minded herd mentality that dominates most traders minds. Knowing how to read charts gives traders a basis for buying or selling above or below the last bar.
Typically, we see these scenarios unfold as a trending market becomes extended and all the amateurs jump in right before the counter-trend retrace, or at key support and resistance levels or at consolidation breakout scenarios. Markets: how they work 29:17 forex exhaustion strategy 02B, chart Basics and Price Action, volume. A trader has to know what to do when a trade is not doing what he expected. So what exactly is a false-break? What is the pain trade?
About Nial Fuller, nial Fuller is a Professional Trader Author who is considered The Authority. Why Double Tops and Bottoms work Double Top and Bottom Flags 40:22 25B Double Tops and Bottoms Tests of support and resistance Failed Double Tops and Bottoms Measured Moves 32:54 26A Triangles Triangle Wedge Reversal or continuation (flag) 32:53 26B Triangles. If we pay attention to the price action at key levels on the daily chart time frame, the writing is usually on the wall in regards to false-breaks. They also need to learn to watch for certain chart patterns where the probability, risk, and reward give traders an edge. 33:03 43D Trading Tight Bull Channels How to buy a Tight Bull Channel Stops and taking profits Tight Channel evolves into TR 34:12 44A Trading Tight Bear Channels What is a Tight Bear Channel? Bull trend needs Higher Lows Bear trend needs Lower Highs 27:07 14B Trends When not clear, then TR Breakout is strongest trend 80 rule: Most reversals fail 28:37 14C Trends Types of trends Bull and bear trends Traps. 27:08 15E Breakouts Exhaustion or Measuring gap? Often, prices will probe a level or attempt to break out, but by the close of the daily bar price has rejected that level and tailed out, showing a false-break or false-test of the level. If he instead believes that the breakout above the last bar will fail, he will sell at the high of the last bar with a limit order.
End of Day Bull Traps Failed End of Day Bull Trap (Became Bull Trend) End of Day Bear Traps Failed End of Day Bear Trap (Became Bear Trend) 35:02 02 Trading Patterns on the Open To follow. A bull trap forms after a move higher, the amateurs who were on the sidelines watching a recent strong move unfold cannot take the temptation anymore, and they jump in just above or at a key resistance level. Its easy to fall into the trap of thinking a trading range is going to breakout, only to see it reverse back into the body of the range. To those who follow me regularly you will note that this was actually a classic fakey setup, and is clear evidence that this price action strategy has worked for decades. Traders need to understand how to trade breakouts, learning where to take profits and how to trail their stops. This may sound a little harsh, but its the reality of trading that the majority of traders lose money, informed and skilled traders make money, and the pigs get slaughtered, as the saying goes. However, the truth of the matter is that markets ebb and flow and they never move in a straight line for very long. Most traders tend to think a level will break just because a market has approached it aggressively, they then buy or sell the breakout and then many times the market will fake them out and form a bull or bear trap. The concept is to wait for the price movement to clearly show that a market has committed to one side of a trade and that they would be forced to liquidate their position(s) on a strong reversal in the other direction.
Perverse logic: Fade BO 34:19 18F Trading Ranges Trading Range: Dont bet on breakout Breakout into trend Early signs of TR 21:02 Support, Resistance, and Basic Patterns (19-29) 34 videos, 16hr 20min English Subtitles # Video Title Duration (min:sec). New Slides S6 to S8 44:16 29B Climaxes V tops and bottoms 17:56 29C Climaxes Climactic reversals Gaps: Exhaustion, Measuring New Slides S22 and S23 42:23 29D Climaxes Consecutive climaxes 33:18 29E Climaxes Climaxes caused by options firms Failed consecutive climaxes. We need to pay attention to the tails of candles that occur at or near key levels in the market. If you were to learn only one single trading strategy to apply in your Forex trading, false-breaks would be on top of the list. Breakouts provide the highest probability of profit, but risk/reward ratio is bad. Forex sessions, leverage, fundamentals 17:37 03B, forex Basics Risks, costs, brokers Symbols Types of"s 15:24 03C Forex Basics Value of a pip Forex workspaces Futures or Forex? As price action traders, we are in a unique position to take advantage of false-breaks and of the weak herd mentality that so many amateur traders possess. If a trader believes that the market will go further, he will enter with a stop, betting that the breakout beyond that last bar will be successful. The Brooks Trading Course is the most comprehensive source of information on reading and trading price charts.