Does that mean when it is a downward trend market, we seek only sell positions?
yes, although you can still buy the market but its risky because that would be a retracement move before the actual trend continuation move, so its better to wait for for downward trading setups especially on the lower timeframes, hence seek for more sells when on a downtrend else you will be counter trend trading and it can be dangerous to trade against the overall trend, the market moves faster when on its trend therefore follow the trend because the trend is where the money is.
GBP/AUD when you said the AUD is pulling the GBP Down. Does that mean sell because of the downward trend of the market? If so you said the currency on the left is buy. Pls clarify
The stronger currency poles the weaker one to its direction, when currencies are paired the one on the left is for buys while the one of the right is for sells, if the one on the left is stronger in a particular trading session it will pull the market upwards, same with the one on the left, its a simple explanation. and that is how the market trends are formed, so you must follow the trend from the higher time frame to know what the market is doing, the current trend and then check the strength of the currencies you are trading, if there is a positive or negative news from any of the currency countries and also check the movement of the currency against over currencies just to know how that currency has been performing in terms of strength then you can take a clear decision if you currency is weak or strong, also know that most currencies become stronger in their trading session, so this are factors you have to consider too.
Thanks
wow! what an enlightenment
wow.. in fact let me repeat this Lesson again… I am getting to understand why I lose trades…
I also have questions but let Me study this more
trading Bias is one key anyone really need to be a good trader…
fundamental, technical analysis and have sentimental analysis is Key.
thank You for the Course.
Thank you for the wonderful exposition.
The simple explanation is that if the one on the left is stronger (that is, the base currency), it is a buy market, if the one on the right is stronger (that is the quote currency), the market gives a down trend which mean you should sell.
God bless you real…more win sir
Thank you so much sir for all this wonderful teaching you actually took your time to explain all the classes well. I have question but that will be later still writing down my question.
Am actually at the right place to learn Forex…
Very informative
excellent insight thank you
So what if its GBP that is strong, does that mean when trading this currency pair we will look to buy
When a currency is strong at that time you are to look for buy setups, but don’t forget the trend, the trend is the ultimate guide for your entry, if the trend is down and you see a currency strong it may signify is partial of short buy, so it’s best to follow the trend with the strength of the currency. Buy on a buy trend and sell on a sell trend, currency strength is only a confirmation that can help you validate your bias.
you said in our last section we discussed downtrend and uptrend but I can’t see that video please. kindly check this for me
If you watched the previous Video carefully I discussed downtrend and uptrend as when the market is making a series of HH and HL it’s an uptrend while a change in such market structure to making serious of LH and LL is a downtrend, it’s simple, major thing is identify the major and minor trend levels, you have to keep practicing how to visualize clearly the market structure and then trade along with the structure.
and i also realized you changed from mt4 to trading view which you didn’t talk anything about, please I’m lost here help me out
Yes! We changed to TradingView for easy analysis and also help expose students to the trading view application and how they can use it for analysis and then take trades with MT4, Trading view has more tools for market analysis, while you can use your MT4 for trade entry and trade MANAGEMENT, perosnally I prefer trading view for market analysis than MT4 it’s easier and more flexible that’s why!
so educative
Sir what will be feedback of the market when it is said to be ranging, are you going to be in profit or lose or neither of them?
Avoid ranging market, wait until you see a clear break out structure and retest before entering a trade, then you know the clear directional bias, you can be trapped and loose money if you enter a ranging market. Look for clear trends to trade thank you
sir there is something I am not clear with, the news we get from forexfactory.com, does that means that once I see a red news, I can not take it as my base currency or I should rather not take it at all even if it is to be my quote currency?
It’s not about taking it as bae or quote currency, when there is news that particular currency will be volatile it can move either way, it’s unpredictable because you don’t know the outcome of the news wherether it will drop the currency or increase the value of the currency, news don’t respect market structure that is why I don’t advice trading currencies with high impact news, unless you have a trusted fundamental analysis to trade it, during the news the market is highly volatile, the market can move more than 200pips within a minute and that will shift the market structure . News is unpredictable unless you have strong fundamental that’s why I advice you leave such currencies with high impact news that day.
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I’m interested
I’m interested in this, but more interested in trading crypto currency! is it involve in the course?
The course covers Forex Trading generally, the ideas shared on the course can be applied to any instrument you are trading crypto inclusive,considering the fact that every market moves with structures and patterns although with exception to the fact that crypto is more on fundamentals than technicals, but you will sure be grateful you tookthe course, i assure you.
Great, I look forward it. Thanks.
I,m delighted to have purchase this course, the knowledge I gained in this course cannot be compared to the money I paid. This is a learning platform where the financial market are simplified for the understanding of anyone. Cheers.