Hunny Gee Posted December 7, 2011 Share Posted December 7, 2011 Foex , Professional Forex trading strategies In this Foex pair: Usd Jpy There is a price action foex price action pin bar + bullish outside bar on the 4hr time frame (right chart in the picture). Indicating an upwards movement. Most new foex traders would have entered on it right away – placing a buy order. But there’s a problem that these new traders do not realise and because of this. They would have gotten losses most of the time. Foex , Professional Forex trading strategies If you look at the 1hr time frame (left chart in the picture) You would have seen a orange line right above the current price movement. That’s the 150 moving average. Meaning, the 150 moving average is possibly blocking its upwards movement. Well, of course it may actually protrude right up to go pass the moving average. But we do NOT want to take the chance. Right? What if it hits the 150 moving average and gets rejected to go back right down? Then we would have made a loss. Foex , Professional Forex trading strategies You see.. This is the exact reason why most foex traders lose in their trades. They FAIL TO LOOK AT MULTIPLE TIMEFRAMES! That is a deadly error. What i am showing you here is only the 1hr and 4hr time frames. I have not shown you the other bigger time frames which would have support/resistance as well. Most traders enter on a trade which looks good at 1 timeframe. But they fail to realise that there are blockages (support or resistance) at the other timeframes – opposing the move. Which would be the reason why the trade did not work out. And after a series of such trades. They decided that foex is a scam and no matter how they trade, they still lose. BECAUSE THEY FAIL TO LOOK AT THE BIG PICTURE! Foex , Professional Forex trading strategies By Correcting this foex mistake ALONE, you will see an increase in profits and winning trades. Ezekiel Chew Asia #1 Forex Mentor Link to comment Share on other sites More sharing options...
Hunny Gee Posted November 10, 2012 Author Share Posted November 10, 2012 Asia Forex Mentor forex course is now FREE! A complete professional forex trading system that even newbies can apply instantly. Link to comment Share on other sites More sharing options...
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