My Last 3 ‘Forex Fakey’ Trade Setups
This Video shows some of my recent ‘Forex Fakey’ Trade Setups as well as an explanation of my money management and risk control with price action setups.
Video Synopsis – My Last 3 Forex Fakey Trade Setups
In this video I discuss price action on the EURUSD daily chart, I keep my charts very simple, a moving average is the only indicator I use, I believe that price action and modern day technical price analysis is what makes serious money in the forex market.
Remember, the higher the time frame the higher the probability of the setup, I wake up in the morning and preempt what is going to happen, or what I think will happen by drawing important levels on my charts and making notes. In the setup in this video I discuss an inside bar that formed near the highs of that time, the high of the inside bar broke to the upside marginally, and then the market got faked out; or a fakey signal formed, this is when there is a false break of an inside bar or an important level. In the inside bar setup in this video the market faked out to the upside and then rotated lower as sellers pushed the price down. This setup provided a 3 to 1 winner; this means you make 3 times what you risk.
The second trade in this video was actually a loss. I bought the EURUSD on a retrace “level trade”, I do not advise traders trade based purely on levels; this is a good example of why you should wait for confirmation from price action.
The last trade I discuss in this video was a false breakout of an inside bar / mother bar pattern. As we can see in this video, we got a breakout to the upside of the inside bar / mother bar, than the professional traders stepped in and pushed price lower. Pro traders take money from the amateurs, the fakey setup is a way that you can learn to take money from the less informed or amateur traders. Most retail traders lose, this means when amateurs buy most professionals are selling, or vice versa. This is a good example of contrarian trading, you must learn to think contrarian if you want to profit in forex, I am a contrarian trader. This video of the forex fakey trade setup is an excellent learning tool for people interested in contrarian trading.
13 Comments Leave a Comment
Amazing info, brother may you have algorithm code of this perticular system so please share with us, so it is very useful to us.
love from INDIA
good work, keep it up.
Top content as always Nial. Thankyou
so…false breakout…where the retail traders usually got killed.
another very useful info,thank you Nial…:)
The information you provided is amazing !
By becoming member , do you give us signal on the live chat?
We have the live trader forum, but not a live trading room or chat, thats not possible, we dont trade that often, we are not gamblers and not day traders in any way shape or form.
If there are no signals currently on a daily chart, do you move to a 4 hour chart and if no signals there do you drop to an hourly chart. Is it the same methodolgy used for each time frame, or does your course teach several methods and different chart patterns.
There is different methods for different timeframes, however a trader is best off suited to playing only one or two chart timeframes. There is a common theme to the methods I teach for all timeframes, however intraday timeframes have more flexibility when it comes to trading with or against current momentum on higher timeframes. Hope this helps.
on the inside bar set up, what point do you enter the trade? On the 3rd setup in this clip for eg. Is it immediately after the pull back from the false break or do you wait until the candle is formed completely.
Very useful videos by the way. Thanks.
typically an inside bar break out setup is entered on the break of the mother candle. False breaks from inside bars are covered in depth in the trading course.
What I’d like to know if I buy the course, do you have anything, that is downloadable like a book of all the systems that you have and how they work?
The course is all online bases
The forex course is held online.