To be truly sincere, making a pip in Forex is only subject to an index; Price action. I don’t really see any need to cluster charts with so many indicators that we probably don’t follow as a result of price action at that particular time. Remember, we are passionate traders, right?
Making money by trading in the Forex market is probably less possible if we do not use a way to understand the signals that price action tells us.
Now, let’s give an example of the site.
Let’s trade GBP / USD, let’s assume this pair starts rallying as soon as they get GBP ground and maybe you are too tall. You get excited, you are gaining and suddenly if you look good enough, you notice the strength of the GBP lag but your indicators still confirm the trend, so instead of taking your profit at that time, you probably open the trade before your eyes suddenly and Even before you can say “Jack” the tide changes, you can lick your burnt finger, meanwhile the mandatory indicators follow suit in that last minute change. You are so low ..
Now, you may say, what does he mean by that? Following our indicators is probably the best option, but combining these indicators is what makes the price action safe at the moment.
On my chart, I have an SMA100, I checked and saw that there is always a rally when prices break through (upwards or downwards) but looking closely at the price action I came to the conclusion that this is not always the case. So many times the price has broken down, only in the opposite case.
Want to make money in forex trading? Price action to be attentive! I can’t repeat it over and over. I have also said this several times, otherwise learn to stay in the right trend and say 70% ahead of time, consult with long time frames. It makes you earn more. Your success there.
Want to trade profitably in the Forex market? More Pip Bags and Enjoy Your Holiday? Then, always look at price action.