the chart in the traders search for confluent levels of support or resistance. Forex, market, we looked at the study of Psychological support and resistance levels. Read more on event areas here. Heres an example of an obvious pin bar setup on the daily chart eurusd that had 4 factors of confluence supporting it:. The pin bar showed clear and forceful rejection of the daily 8 / 21 EMA dynamic support layer. Some of the factors of confluence I look for on a chart: An uptrend or a down trend; essentially a trend is one factor of confluence in and of itself.
Instead, you can use simple price action confluence and bar patterns to successfully trade as well.
Confluence, of Stops One group of people who use confluence very well are those with the big money.
What they like is a confluence of obvious swing levels, range levels, and the group of traders who like tight stops for bigger position sizing.
Forex, with, confluence and Price Action - If I had to boil down. Forex trading strategy into to one simple phrase, it would be this; trading simple price action signals from confluent levels in the market. Confluence in the, forex, market. We use a range of cookies to give you the best possible browsing experience.
Free forex auto robot ea, Nzd forex pairs,
Both the 8 and 21 EMAs are factors or levels that can add confluence to a price action setup. Note: Save 25 Off Life-Time Membership To Nial Fuller's Pro Trading Course Trade Ideas Newsletter, Ends November 30th. I personally watch the 50.8 retrace levels for another factor of confluence. Event areas are levels in the market where a significant price action event occurred. Take the 200-day moving average as an example. Static (horizontal) support and resistance levels.
Ke forex trading terminal
Auto moneymaker forex trading
My best forex strategy