Video Synopsis – Trading Price Action Forex “fakey forex strategy”
In this video we are looking at the EURUSD on a 4 hour chart, using the FXlite demo charting platform which has the New York close candles. In this video I took a short trade on the EURUSD, I suggest practicing on a demo account until you master a consistent track record. The setup I took was a fakey / pin bar, a combination of two setups; the fakey, which is a false-break of an inside bar pattern, and a pin bar, which is a large-tailed candle, preferably 2/3 tail 1/3 body.
What we are looking at in this video is a break-down of the EURUSD on the 4hr chart, we want to find a way to get in before the break down. The fakey / pin bar setup gave us a signal to get short before the breakdown occurred. The way to trade this setup is to first identify the inside bar in the context of a trending market, then we wait for the fakey / pin bar to form and close back inside the range of the inside bar, indicating a false break of the inside bar. The entry is either on a break below the low, or on a retrace of the pin bar / fakey bar. These bearish price action forex fakey setups work very well when a market is looking to break to new lows in the context of a down trend, because there is a good chance of continuation. We are looking for confluence, trend momentum, and price action.
Get Free Trade Setups, Videos, Tutorials, Articles & More
Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Learn To Trade The Market Pty Ltd, it's employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.