Proeureka Trading System ( Pure Price Action)

Howdy Merchants

Trading forex is an artwork and one ought to like it to succeed.

This thread will showcase how one can Utilise the fundamentals of worth motion akin to assist, resistance, and development strains to take trades.

There will likely be a sequence of illustrations showcasing the way to go about buying and selling with a stable backing in the direction of taking commerce.

It’s with fixed observe one can pay money for the worth motion setups with the blink of an eye fixed.

Following are a number of the fundamentals we'll use to purchase or promote a pair

1. Examine for the breakout at key ranges

2. Examine for retracement at key ranges

3. Examine for correlation at key ranges

One factor to keep in mind is that regardless of the system you observe there must be sound cash administration to combat your monkey thoughts from making choices that would blow your account.

At all times keep in mind if you wish to keep on this sport for an extended run you have to be keen to take drawdowns, unfavorable P/l months with a smile.

A chart from the final week.

1 hr chart in CHF/Jpy showcasing how the worth revered the assist however as soon as the extent was damaged it turned to resistance and the worth simply fell from this stage.

See also  FSO Harmonic Pattern

Connected Picture (click on to enlarge)

Information and Price motion

Commerce in GBP/USD final week. Because the world is conscious of the Brexit saga. The uncertainty together with a breakout of the assist rolled the Pound to a promote.

It is a good instance of the correlation between information and worth motion

Connected Picture (click on to enlarge)