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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Forex False Break “Fakey” Price Action Patterns

2011-08-10T18:04:51+00:00
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By in Forex Trading Videos Last updated on | 18 Comments

Today’s Forex Training Video : Understanding the False Break “FAKEY” Price Action Strategy. Please watch the ENTIRE VIDEO.

Video Synopsis – Forex Price Action Strategies Video

In the above forex training video I discuss the “story” that surrounds the trade setup to begin with. The story is that one of my member’s posted up this setup in the member’s forum and this alerted me to a setup that I otherwise would have missed. The point is that my trading community has grown to such a point that trader’s are interacting with one another and bouncing ideas around and learning from each other, the member's forum has also recently been totally re-vamped with a brand new V-bulletin forum!. We are learning how to find price action setups here instead of being spoon-fed trading signals.

Anything above a 1hr chart is something that I personally look at on the majors pairs. In this video I discuss the more advanced “fakey setup” with simple trend analysis and swing point analysis. I discuss the fakey setup extensively in my trading course. The trend was down in this setup and we had a swing point providing confluence of resistance at 163.79. A member in my forum posted up the large pin bar / fakey reversal that showed rejection of the mentioned resistance level as well as a false break of the inside bar cluster. The confirmed entry for me would have been the close of the pin bar itself, a more conservative entry would have been a break of the low of the mother bar that surrounds the inside bars. This video discussion pin bars reversals and the fakey is for education purposes only, as always.

About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. Checkout Nial's Professional Forex Course here.
  1. Doug Gray March 27, 2015 at 5:15 pm

    Wow, how simple you explain trading. When I am more familiar with basics I will definitely be joining and buying the course…….thanks

    Reply
  2. rajesh vishwakarma September 4, 2014 at 4:29 pm

    Good video and Nice comments..Thanks

    Reply
  3. pitborirak August 26, 2014 at 4:48 pm

    good video.

    Reply
  4. Leon April 2, 2013 at 9:53 am

    thank you so much

    Reply
  5. Geetha March 19, 2013 at 9:32 pm

    Hi Nial,
    This was a good setup

    Reply
  6. George November 30, 2011 at 6:07 pm

    Nial; Thanks again.

    Reply
  7. victor May 5, 2011 at 8:44 am

    every lesson learn t build s an individual,thanks for all the videos they have been a great help

    Reply
  8. Elias Finoli February 9, 2011 at 9:22 am

    Give a man a fish, you feed him for a day; teach a man to fish, you feed him for a lifetime

    Reply
  9. joseph November 10, 2010 at 11:39 am

    hi Nial, you are the best.Thank you so much for the good work…….i cant say thank you enough but certain the worid appreciate you.Great you are.God bless you with more wisdom

    Reply
  10. Jeff August 15, 2010 at 9:39 pm

    Thanks Nial,

    The truth of forcing the emotion in order to break the emotional control is so important. After being referred to your website from a friend it opened my eyes that I can be involved in the Forex market without having the 5 -10k account my friend plays with. Adding to this is the fact that he enjoys my reflections on the chart even though he has given it real time and money.
    I look forward to learning all your lessons and applying them and sharing my trades without the gambling nature I have followed prior to this enlightenment.

    Reply
  11. damion December 1, 2009 at 11:15 am

    These are really great stuff. Thanks Nial for sharing.

    DR

    Reply
  12. Renaldo November 7, 2009 at 6:42 am

    Hi Nail

    I know that you get this question daily.How much capital do i need to start up for day trading currency?

    Thanks
    RB

    Reply
    • nial November 7, 2009 at 12:59 pm

      Hi, In my eyes, the trader knows how much capital he is comfortable trading. That means what he can sleep at night trading and feel comfortable if he was to loose all of it. As forex can be risky if you dont know what your doing, its best to start trading real money in smaller quantities until you become more confident. I think $200 to$500 is actually enought to learn on, you wont get rick overnight, but If you apply price action principles and manage your capital correctly , then you could double that money quite quickly. The idea is that real money will produce real emotions, and a demo account wont do that for you. The sooner you can be confident enought to trade even mirco lots, the more you will learn about real trading emotions etc. Hope this helps.

      Reply
  13. jammy September 21, 2009 at 7:36 am

    Nial, i’m 15 and i haven’t bought your course yet but been doing very well on demo …about 2k pips/month off the H4 H1 and sometimes dailies.
    seriously thinking of getting your course, keep up the good work.

    Jammy

    Reply
  14. thieunam September 3, 2009 at 1:03 pm

    thanks for your videos, it is really great.

    Reply
  15. ellen eun September 3, 2009 at 2:55 am

    Thank you for you emailed me to learn 4h tf
    you are very generous to teach me like new student
    just thank you very much I love Australia and people are very nice

    Thank you again

    Reply
  16. felix September 3, 2009 at 1:17 am

    hey nial , i want to ask you a Qustion

    What kind of platform are you using?

    Because if you dont have good broker and platform you will not see the right pin bars

    thanks for your help

    Reply
    • nial September 3, 2009 at 9:24 am

      I use Meta Trader – Using New York Close Chart server. Not all meta traders versiosn are new york close sever time.

      Reply

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