Forex Strategies – Price Action Trading Strategy
Forex Strategies – There are many Forex Strategies but today I explain price action trading strategy
that will change the way you trade.
And the key idea of the strategy relies on the concept of momentum loss shown through candle sizes and shapes
which is a very powerful price action technique.
SUPPORT LEVEL FOREX STRATEGIES
It shows that price is losing momentum and that is a very key point you want price to be losing momentum and slowing down as it approaches key levels.
As price approaches this level of support look at how the candles behave.
As you can see we have a big candle followed by a smaller candle followed by an even smaller candle another smaller candle.
Then a smaller long wick candle rejecting support.
And then finally an even smaller green candle that is also a Doji.
And also an inside bar is a reversal candle and this results in a bounce upwards.
This is another currency pair example like GBP/USD.
This is a key level of support as you can see from when the price got here.
Last it hit and reversed upwards so as to price approaches this level again we have a big candle than a smaller candle.
An even smaller candle which is also rejecting support.
And then we have this beautiful green long wick candle rejecting support.
And then followed by another great inside bar candle rejecting support as well and as you can see price bounced to upwards.
This is another currency pair example like GBP/USD and that Resistance Point.
Again we have three rejections of this level before it reversed downwards.
which makes this a key level of resistance as price approaches this level.
we have a big green candle a smaller green candle where the wick is also rejecting resistance and then an even smaller candle which is a red bearish candle and as you can see price reverse downwards.