SimpleFxAcademy

Trading Forex is difficult for many, but here at SimpleFxAcademy we know that the best forex trading strategies are simple.

The most successful Forex trading strategies are based on price and price action.

So, avoid using too many technical indicators especially if you are new to trading.

The term price action might seem like a little complicated to some but it is simply what occurs naturally on the charts as price moves up, down or sideways, it creates easily recognisable patterns on the charts.

These patterns are known to repeat themselves over and over again. This is because the human emotions of greed, hope and fear that inform the decisions of many traders do not change. Just human nature…

Using simple technical analysis tools like, trend lines, equidistant channels, Andrew’s pitchfork all in combination with key levels of horizontal support and resistance mapped out especially on daily or weekly time frame, will keep you on the right side of the market 80-90 % of the time.

To be a successful trader in the Forex market, you must know how to use TRENDLINES and Price action CHANNELS. These are the most widely used methods to determine the direction of the market. Often, their importance is understated.

In a Forex trade, understanding the direction of the market is the most important thing. It is the same as how life works. We are more confident and comfortable when we are able to reasonably predict the future and we can have confidence in our trades. Companies invest a lot of resources doing research about the future so that they understand the market trends and position their products accordingly. It is the same for the Forex trade.

Learning how to use trend lines correctly makes the difference between a successful trader and a failed one. The Forex trade is a high risk and high reward type of business.

Traders who use trend lines and channels correctly can expect to be profitable in the long term because they understand when they should enter, hold or exit the market.

Channels are created when a parallel line is drawn at the same angle as the upward or downward trend line. They are an extended method of technical analysis.

To learn more, join us at SimpleFxAcademy