In this post, we share an awesome price action trading strategy with you.
if you are a newbie in forex or an old trader but not getting profit in forex then you come to the right post
we just found identify and back test a stunning strategy for you
This strategy is very specific for the pair time frame and candlestick pattern too
Price Action Trading Strategy
We are lovers of GBP pairs because GBP pairs make potentially pips gain Candles
Note:- This strategy is only for GBPJPY
- Open GBPJPY pair
- Goto H1 (1 hour) Time Frame
- Draw Simple and significant Support Resistance at least 5 to 10
- Now wait high Momentum Candles
- Wait till the market Breakout your significant support resistance
- After Breakout wait for Retest the significant level
- Once a reversal candlestick pattern appears on the Retest level
- Take a trade
- Set your stop loss on the previous High or Low
- Set your TP double against your SL
Summary of Price Action Trading Strategy
I hope you understand this strategy through bullet points if you don’t understand then I teach you these steps
Goto pairs section and select GBPJPY pair then simply go to h1 time frame
Once you have done this then simply draw the significant support and resistance on your h1 time frame
Now you doing 3 simple steps and you just remaining 7 easy steps too just wait for the high-momentum candles
Once you see the high momentum than just check your levels breakout
Now what you should do after the breakout yes you should wait for the retest of your level
Market Retest your level and the market gives you a reversal candlestick pattern on your level
Now the time is come to take a trade once you open a position then just 2 steps remaining
Set your stop loss on the previous high or previous low and set your Take profit double against your stop loss
This strategy makes me daily 40 to 50 pips you can call it a scalping strategy
This method is 100% safe and secure you should check this strategy on the demo account at least one month
Once you master this strategy then you can use a partial big lot and gain fabulous profit
You can easily grow your small account and grow your daily income too
Thanks for reading our post for more strategies you can check it out at Faiqforex.com or our youtube channel