Best Forex Swing Trading Strategy
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.
4 Comments Leave a Comment
So pleased to come across this early presentation again. One of the most influential applications of PA ever, This sort of set up happens again and again. Don’t be worried about time between opportunity but just keep a keen eye out for this type of set up. I knew I remembered it from some where.!!! Guy and girls this guy really is the real deal. I have been trading with good fortune for 9 years now after coming across this web site which I am happy to see is still flourishing. I have my own trading plan now and stick to it however it is largely based on the principles shown on LTTTM. Stay safe all during this pandemic and trade well.
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God will keep on blessing u until your cup running over.I salute your rich knowledge on price action trading,you are great.Though presently i could not join the member area because of financial constraint but these your materials is doing a great thing in my life and journey in the jungle of forex.i have giving up on forex because of huge loss,but dabbling in to your site have kindle a ray of hope again,that there is a way forward. Thanks and God bless u.
Nice idea –