Video Transcript:

Trading Reveral Bars Systems in Forex

Hey everyone, it’s Nial from learntotradethemarket.com. Welcome to today’s forex training video. Now in today’s video, we are looking at a live setup that’s formed on the GBPJPY, daily chart. Now, i must remind you that this is not a live trading recommendation, this is not a trading advice and it’s for educational and training purposes only.

Now, in this setup, we’re looking at 3 things. One of them was the chart; obviously this is a daily chart. There is a lot of weight behind this kind of uptrend. It is also broken free from 151.10; you’ll see the horizontal line there that appeared on the chart. So we’ve carried it through, you’ll see we’ve got this nice break out over here, good uptrend, with a moving averages, diverting in a momentum. We’ve got this level 3 here, around 154.95. You can see it is relevant over here, it is now ahead. We’ve got prices of bringing this moving average, that shows the short term momentum to extremely blend and positive, the bulls have control of the market. And we are closing on the right side of the trend.

You see, every time we hit the moving average, we are bouncing from it and closing high. That’s very important. Now that’s very nice, when going on uptrend but we made some confirmations and the confirmation comes from a reversal bar and this signal here is the classic hammer bar that the doji or the bullish pin bar reversals, i call it. It’s a candle that has a small body and large tail. Now, obviously, we want the tail to be pointed down, if we are looking for an uptrend continuation.

So because we’ve got these tails here, that where in the raising bars, you’ll see these 2 signals here and we’ve also got one here. Now, today isn’t counted because it has a closed chip, you can only look at the bar prior. So, knowing that these 2 candles here worked in signals to get me into the trend.

I was on all of these trends; I’m now looking at this one here. And how am i gonna know the trend? By simply use the 8 day image reference point for you, plus the bar over here that was filled and I’ve run the stop lost below the previous day’s live, that is a very logical pin bar retracement trend. Once we’ve got that uptrend in place, we’ve got the bullish cross section signal; i am looking for a small retracement in intraday to get along. I don’t have to move to intraday chart, i am still looking at the daily chart out. Very simple, keeping it simple stupid strategy and i am now riding this trend high so we’ve moved around 200 points to the upside and the most recent high for you at 160.50 could be the first target.

That is very simple to trade this style when you are trading in daily chart. It gets a little more complex when you move to intraday chart. So i suggest that, anyone learning to trade price action to the way that i trade, trades on daily chart. Especially those complete newbies, there is no point in intraday trading, you just gonna lose money and personally, i did not start trading on intraday chart, i started on daily charts. And i think i can attribute that to my success - which I started with simple daily chart. There’s a lot of weight behind these signals. There is a high probability and it also helps with the emotional side of trading.

Now if you like to learn about this style of trading in any of my trading setups today, teaching to learn to trade the market, you can check out the forex trading course that i offer. It’s got a live trading forum, its got videos and trading courses, the whole package. It’s very affordable; i made it accessible to all traders. If you got any questions at all, you can feel free to email me thru the ‘contact us’ section. If not, I’ll see you in the ‘member section’. Good trading and take care.