Proven Price Action Strategy - ForexTradingEmpire

Also available in Meetup memebers download area:
http://www.meetup.com/Singapore-FOREX-Group/
http://files.meetup.com/1777129/massivetrendreport.pdf


1.  Price drop to 50% - 61.8% Fibonacci level on Daily Time frame.

3.

2. Drill down to H4 - look for "Reversal PinBar"

3.  50% FIBO level and Reversal Pinbar coincide with previous Support/Resistance level

Once the 3 levels "Confluence" confirm is likely a HIGH Profitability Set-up for Up Trend to RESUME.

Bear in mind forex trading is just a Probability game.

To increase the winning probability - Stop loss and Risk/Reward

4.  Set StopLoss below Pinbar

5. Set Profit Target and check Risk-Reward ratio
    TP 1 at Resistance/Support level on Daily chart

    TP2 - tailing stop at breakeven and FIBO extension level

Time Frame for TP1 to achive for this example is 9 trading days with 180 pips.
p/s:  2 trading days profit +150 pips.

Before reaching TP2 next few days market in narrow range - "consolidation", waiting for "Breakout" to TP2 profit +280 pips.