Today’s Forex Training Video : Understanding the False Break “FAKEY” Price Action Strategy. Please watch the ENTIRE VIDEO.
Video Synopsis – Forex Price Action Strategies Video
In the above forex training video I discuss the “story” that surrounds the trade setup to begin with. The story is that one of my member’s posted up this setup in the member’s forum and this alerted me to a setup that I otherwise would have missed. The point is that my trading community has grown to such a point that trader’s are interacting with one another and bouncing ideas around and learning from each other, the member's forum has also recently been totally re-vamped with a brand new V-bulletin forum!. We are learning how to find price action setups here instead of being spoon-fed trading signals.
Anything above a 1hr chart is something that I personally look at on the majors pairs. In this video I discuss the more advanced “fakey setup” with simple trend analysis and swing point analysis. I discuss the fakey setup extensively in my trading course. The trend was down in this setup and we had a swing point providing confluence of resistance at 163.79. A member in my forum posted up the large pin bar / fakey reversal that showed rejection of the mentioned resistance level as well as a false break of the inside bar cluster. The confirmed entry for me would have been the close of the pin bar itself, a more conservative entry would have been a break of the low of the mother bar that surrounds the inside bars. This video discussion pin bars reversals and the fakey is for education purposes only, as always.