How to trade the False Break Out price action forex strategy is explained in this video. It’s an excellent example of how profitable this entry can be when used on the daily chart. It takes patience to wait for this opportunity to show up. Remember though, great traders carefully pick and choose their entry and exit opportunities. They know it’s not the quantity of trades, but the quality of the opportunity that brings home the profits.
This is a trade I recently completed using the Forex Market Master Pin Bar price action entry strategy. You can learn to spot and trade entries like this using the Forex Market Master Risk Analysis and Price Action Trading Course.
Drawing Support & Resistance on forex price charts is a crucial step for a trader of Price Action. Getting this aspect of technical analysis mastered lets the trader make decisions about actionable areas on the charts. This video will help the trader in how to apply support and resistance lines correctly on a chart.
The engulfing reversal pattern, or ER as I call it, is a particularly good indication of a change in market sentiment. The downside of this pattern is that it appears less frequently than either the Pin Bar pattern or the False Break Out (FBO). The reason for the infrequence is that it takes a lot of desire by market participants to turn price around and completely engulf a previous candle. As you move down into smaller time frames, the frequency of it’s occurrence increases, but it’s accuracy as an indication of direction decreases. I believe you’ll find this video and candlestick pattern quite interesting.