Simple Profitable Forex Trading Strategy to Master
The reason you are here is because you are looking for a simple profitable Forex trading strategy.
My answer would be price action signals with horizontal levels. They are effective. They are the backbone of my trading theory and masterclass.
Price action involves looking at the ”naked chart” and finding patterns which communicate what the market is doing.
On the other hand, horizontal levels is where every market starts from. So it is easy to see why horizontal levels are very important in any trading strategy since they tell you which direction price is going to go next.
They can be especially useful if you know how to use pin bars with horizontal levels.
If you have ever wondered where to place your stop loss, the horizontal level of the chart is your answer as they offer valuable price levels that can help you know exactly where to place your stops at.
No wonder great traders like Warren Buffet and George Soros know that price levels have a great impact and if factored into any trading strategy, we will get the best results.
Therefore, when you complete this short lesson on the Simple Profitable Forex Trading Strategy to master, you can share it on Facebook, Twitter or email with others. You can even comment below if you have questions. I’d like to answer them.
Simple Profitable Forex Trading Strategy to master
Since I have traded with price action and horizontal levels long enough, I can assure you that they are an indispensable tool for identifying confluence levels.
But I also use other factors when identifying these levels. If these factors line up with the horizontal levels, I get into the market straight away without thinking twice.
There are many ways to use horizontal levels with price action. I teach many of these methods in my course. So I just want to show you two ways to trade horizontals in this lesson to get a clear understanding of how these formations can be of help.
Simple profitable Forex trading strategy on a trend
In the above illustration, the market is trending upwards. As it trends, it creates resistance areas which become new support areas.
The areas which I have marked with horizontal lines are called swing points, and when you catch an obvious price action signal on any of these swing points, we can have the best trade setup for taking many pips.
The idea is to stay on the lookout for these signals when the market bounces off the new support which essentially was a resistance.
Simple profitable Forex trading strategy on a range-bound market
The above illustration depicts ideal conditions where we can execute simple profitable Forex trading strategy on a range-bound market.
Since price is bouncing back and forth on two horizontal lines which are considered support and resistance, we can see a pattern clearly forming.
I have been trading these patterns for a long time, and I know that if I can find a price action signal where the market bounces, I can know for sure that price will reverse or continue beyond a horizontal level.
I strongly believe that horizontal levels together with price action are the ingredients of executing a simple profitable Forex trading strategy.
What I am teaching is very easy to master. With those tips, my hope is that you will learn to combine these two techniques to develop an effective and simple profitable Forex trading strategy for your trading.
For those of you who would like to learn the secrets of effectively using horizontal levels with price action signals to make profits, this Forex and Cryptocurrency trading masterclass will be extremely helpful.