The 4 Step Process for FOREX Trading Mastery
The 4 Step Process for FOREX Trading Mastery 1. Identifying Market Condition 2. Identifying a Trade Set-Up Steps 1 & 2 were discussed in the 2 nd Video 3. Determining Trade Entry Look for a Powerful Price Pattern at SUPPORT (in an UPTREND) or at RESISTANCE (in a DOWNTREND) offering a high probability low-risk entry? 4. Trade Management Place Initial Stop Loss outside of the normal ebb and flow of the market just below SUPPORT in an UPTREND or just above RESISTANCE in a DOWNTREND and pay yourself as the market makes money available to you and take profits at high probability logical attainable levels.
Many traders believe that trying to catch a market top or market bottom is where the real money is. I disagree
Catching just a little piece and/or a much larger piece of the TREND adds up and is easier to do with a high probability of success.
Now, let me show you 3 Powerful Price Patterns for entering high probability low risk trades that not only work in the FOREX market, but ALL markets.
3) Determining Trade Entry
Powerful FOREX Price Patterns
Here are a few Powerful FOREX Price Patterns that are very reliable and predictable when trading at logical SUPPORT & RESISTANCE in a defined TREND
BULLISH Powerful FOREX Price Patterns These BULLISH Powerful FOREX Price Patterns at logical SUPPORT in an UPTREND offer high probability low risk trading opportunities. They make LONG entries into the market very reliable and predictable, while at the same time reducing risk to a minimum. Bullish OVB Bullish Quasi Engulfing Pattern Bullish BOB Bullish Quasi Hammer IVB (at Support) Neutral Harami (at Support)
BEARISH Powerful FOREX Price Patterns These BEARISH Powerful FOREX Price Patterns at logical RESISTANCE in a DOWNTREND offer high probability low risk trading opportunities. They make SHORT entries into the market very reliable and predictable, while at the same time reducing risk to a minimum. Bearish OVB Bearish Quasi Engulfing Pattern Bearish BOB Bearish Quasi Hammer IVB (at Resistance) Neutral Harami (at Resistance)
4) Trade Management
Trading Strategies
Bullish Outside Vertical Bar (BUOVB) / Bullish Quasi Engulfing Pattern The HIGH and LOW must exceed the Prior Bar s HIGH and LOW and the CLOSE must close in Top Quarter of the Bar s Range OY USED at logical SUPPORT in an established UPTREND PROFIT OBJECTIVE (1X Range of BUOVB) PROFIT OBJECTIVE (1X Range of Engulfing Candle) BUY ENTRY BUY ENTRY ISL ISL
Bearish Outside Vertical Bar (BUOVB) / Bearish Quasi Engulfing Pattern The HIGH and LOW must exceed the Prior Bar s HIGH and LOW and the CLOSE must close in Bottom Quarter of the Bar s Range OY USED at logical RESISTANCE in an established DOWNTREND ISL ISL SELL ENTRY SELL ENTRY PROFIT OBJECTIVE (1X Range of BEOVB) PROFIT OBJECTIVE (1X Range of Engulfing Candle)
Inside Vertical Bar (IVB) at SUPPORT / Bullish Harami Pattern The HIGH and LOW (BOTH) must be INSIDE the Prior Bar s Range (the HIGH is lower than the Prior Bar s HIGH and the LOW is higher than the Prior Bar s LOW) OY USED at logical SUPPORT in an established UPTREND It does NOT MATTER where the bar closes PROFIT OBJECTIVE (2X Range of IVB) PROFIT OBJECTIVE (2X Range of IVB) BUY ENTRY BUY ENTRY ISL ISL
Inside Vertical Bar (IVB) at RESISTANCE / Bearish Harami Pattern The HIGH and LOW (BOTH) must be INSIDE the Prior Bar s Range (the HIGH is lower than the Prior Bar s HIGH and the LOW is higher than the Prior Bar s LOW) OY USED at logical RESISTANCE in an established DOWNTREND It does NOT MATTER where the bar closes ISL ISL SELL ENTRY SELL ENTRY PROFIT OBJECTIVE (2X Range of IVB) PROFIT OBJECTIVE (2X Range of IVB)
Bullish Blow-Off Bar Bar (BUBOB) / Bullish Quasi Hammer Pattern The Bar s Range must be 125% larger than the prior 3 to 5 bars, the OPEN and CLOSE must be in the Top Quarter of the Bar s Range, and the LOW of the Bar must be below Prior Bar s LOW OY USED at logical SUPPORT in an established UPTREND PROFIT OBJECTIVE (1X Range of BUBOB) PROFIT OBJECTIVE (1X Range of BUBOB) BUY ENTRY BUY ENTRY ISL ISL
Bearish Blow-Off Bar Bar (BEBOB) / Bearish Quasi Shooting Star Pattern The Bar s Range must be 125% larger than the prior 3 to 5 bars, the OPEN and CLOSE must be in the Bottom Quarter of the Bar s Range, and the HIGH of the Bar must be above Prior Bar s HIGH OY USED at logical RESISTANCE in an established DOWNTREND ISL ISL SELL ENTRY SELL ENTRY PROFIT OBJECTIVE (1X Range of BEBOB) PROFIT OBJECTIVE (1X Range of BEBOB)
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The 4 Step Process for FOREX Trading Mastery 1. Identifying Market Condition Is the market in an UPTREND, DOWNTREND, or SIDEWAYS Trading Range? 2. Identifying a Trade Set-Up Is the market trading at logical SUPPORT in an UPTREND or at logical RESISTANCE in a DOWNTREND? 3. Determining Trade Entry Look for a Powerful Price Pattern at SUPPORT (in an UPTREND) or at RESISTANCE (in a DOWNTREND) offering a high probability low-risk entry? 4. Trade Management Place Initial Stop Loss outside of the normal ebb and flow of the market just below SUPPORT in an UPTREND or just above RESISTANCE in a DOWNTREND and pay yourself as the market makes money available to you and take profits at high probability logical attainable levels.
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