Below I talk about a Forex Candlestick Reversal Barone of my favorite Trading Strategy I use when trading from horizontal support and resistance areas of the daily charts. Often without see a trading range develop on the major pairs losses following the simple laws of market rotation, we can forex reversal bar entry triggers from the higher resistance and lower support forex of the trading range. Enjoy the forex video and remember to keep your trading simple as always In this video we are looking at how to trade forex price action horizontal levels and price reversals on the daily chart, nothing intra-day, I discuss how I made a 3 to 1 risk to reward daily time frame trade. Price action actually means the activity of price or the ebb and flow of price itself, the facilitation of price from a to b then to b to c. It is very important that people realize that applying anything over their charts is second hand lagging data. Strategy price-only daily chart shows you everything you need to see, which is the raw price data for each day, all you should be thinking about is plain vanilla losses action. The video shows a price bar reversal at losses AUDUSD, we had a false break of this key level, the long tailed candle in the video is a pin bar reversal, this shows us the market is likely to reverse lower or at least consolidate. When we have a resistance point and a price action sell signal as we did in this video it is called a confluence of sell signals, confluence of signals is what we want to see before entering any trade. Looking to make 3 times our risk, our risk was 70 so reward is How you read the market or interpret these signals comes with experience and screen time, price action is a work in progress, you need to spend at least minutes a day looking for setups after the daily close. Wow what a find. I have been reading, studing and thoroughly enjoying learning the price action method. As others have said its great to use a clean chart. I am back demo trading after a long break and am really excited and am feeling more confident about using price action. Thanks again and kind regards. Irma Reitz Always Humbled by your clear and precise teachings, so real in the market. God Bless You Nial, My Mentor. Nial, Excellent explanation and education as always. I like the way you explain the variations on the basic price action theory. The confluence of signals you talk about in the accompanying article makes a lot of sense. JUst to conform: You onlu use daily charts for set and forget strategies and 4 hour chrts fo intraday trading? Thank you so much. Please keep up the good web site. That was really clear! As I am seeing the markets through the way you explain with S an R levels and Price Action Signals I am finding it much easier to handle the markets and a lot of my nerves are tailing off forex It is simple, but tricky at the same time! I have been watching your videos for a while now and am impressed with your teaching style and impressed with your being humble. I am sold on price action and am sold on you being forex mentor. I will be purchasing your teaching in about two weeks and am looking forward to learning, studying, aplying what I learned and getting some good consistent profits. Pure naked trading with Nial has changed my trading…I now have a method watching my pin bars and inside bars and I am so relaxed. The chunks strategy pips I am grabbing is unbelievable! I really enjoy the fact that you keep it simple mate. Thanks for your teaching on price action, i really believe that pa is the only leading indicator. What a relief to throw away all those indicators and have a clear screen where you can actually see price. Hi Strategy Does you pin bar strategy works for currencies or without it more profitable with certain currencies? You talk about EOD bars,when does this happen in a 24 hr market and is it losses same for all providers? Love your market comments End of day bars, daily chart with a new york close timeframe. As a guide, most providers are not new york close even if they say they have the setting. Tradestation is the benchmar, but its expspensive. I use metatrader and theres many providers offering different data feeds, so be carefull, just make sure the charts match up to my ones, send me a chart sample to check once you have metatader. Your email address will not be published. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. High Risk Warning: Forex, Futures, and Options trading has large potential rewards, without also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without without to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. 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