Day Trading Forex with Price Patterns PDF

Day Trading Forex with Price Patterns PDF

Day Trading Forex with Price Patterns PDF- A very clean and extremely profitable day trading system that does not use technical indicators of any kind, but only concentrates on reading the price action. It focuses first on the bigger picture to find out which of the buyers and sellers are more powerful at any given time and then uses this information for day trading on smaller timeframes with the help of very strong patterns that price makes. This is all you need; this is all this system needs in order to deliver a thousand pips per month or more.

Category: Forex

Author: Laurentiu Damir 

tag: Laurentiu Damir 

Language: English

Download link: At the end of the article

About the system

A very clean and extremely profitable day trading system that does not use technical indicators of any kind, but only concentrates on reading the price action. It focuses first on the bigger picture to find out which of the buyers and sellers are more powerful at any given time and then uses this information for day trading on smaller timeframes with the help of very strong patterns that price makes. This is all you need; this is all this system needs in order to deliver a thousand pips per month or more.

Beginner traders often think that for achieving success in the foreign exchange market, they have to invent something, to be unique, to come up with some complicated trading techniques that no one else has thought of before. This is very wrong. Forex is not about uniqueness at all, it is about a very large group of people buying or selling at the same time. The more people that buy or sell at a given level of price, the greater are the chances of success. If you develop a unique strategy and then start to buy or sell according to it, the levels of price where you buy/sell will be overlooked by the majority of traders out there, they will not do the same thing you did because they don’t know your unique system, and they don’t base trading decisions on it.

In conclusion, you always have to go with the crowd not against it; the more obvious and well known things are by the people out there, the greater the chances of success. This is in part what makes this trading system very profitable, it works with very clear, very popular and easily identifiable price patterns.

Being very popular, most traders watch them closely and trade them when they finally break. Another important part that makes this system profitable is trade management techniques, knowing how to set and trail manually your stop loss levels in order to obtain the maximum from every trade. All of this being said, let us go deeper into the components of this trading system.

Price Patterns

They are formations that happen all the time in your charts and they give us very important clues about what is going on between the buyers and the sellers. There are two major categories of patterns: continuation and reversal patterns. The reversal patterns signal that a trend change is about to happen while the continuation patterns suggest that the market is only pausing for a little while before the current trend resumes. As this is a trend following day trading system, we will only use the continuation price patterns.

The most popular and reliable continuation patterns are the following: flag pattern, pennant pattern, rectangle pattern, symmetrical triangle, ascending triangle, descending triangle patterns, cup with handle pattern, the price channel pattern and the wedge pattern.

Table of contents- Day Trading Forex with Price Patterns PDF

About the system
Buy or Sell ?
Price Patterns
Flag and Pennant
Rectangle
Triangles
Symmetrical triangle
Ascending triangle
Descending triangle
Price channel
Cup with handle
Wedge
Entry and Exit
Step by Step

About author

“Hi, my name is Laurentiu Damir, I am a 37 year old who has been trading for a living for some time now. I picked up the hobby of trading 14 years ago. As the years were passing I became completely dependent. Back in 2012, I had the idea to write short eBooks containing trading strategies for the foreign exchange market. Since then, they have proven to be quite successful. From my interaction with readers, the overall consensus has been that “Trade the Price Action” is the most appreciated and valued. It is always a good felling getting feedback from readers saying that they have found value in the contents of my books. My trading style is more to that of a price action swing trader. I have learned over the years to have patience and wait for the best trading opportunities the market provides.”

Read more his book: 50 Pips A Day Forex Strategy PDF

>> Read more about Laurentiu Damir and his book on E4T

Download ebook Day Trading Forex with Price Patterns PDF

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