Video Synopsis – Best Forex Swing Trading System
The above forex trading educational video actually was made without sound; instead it is narrated with text. I was trading the EURUSD short in this video; I show my trading account as proof of the position. I profited about $4,690 in 8 hours on this trade, not a bad day’s work!
The trade setup is based on a short term bearish (negative) trend break. The first step is to watch the daily chart and check the 8 and 21 day EMA as an indicator of trend direction. As can be seen in the video price has broken below the 8 and 21 day EMAs. Price then consolidates after breaking down through the EMA support.
Next, I zoom down to the 1 hour chart and I am looking at the 150 and 365 EMA here. When price is below these EMAs the trend is down, and we use those lines as “value” areas. We have previously decided that the daily trend is down so we can enter short on retracements back up to these EMAs / value areas on the 1 hour chart. I entered short near the 1 hour 365 EMA with a 33 pip stop above the recent highs. This video demonstrated the EURUSD swing trade forex trading system of price action trading.