Forex BULLISH BEARISH Price Action Candle Trading Strategy – Price action trading is most common among retail and institutional traders, although it’s becoming less popular with the rise of algorithmic and high-frequency trading.
Price action trading involves placing trades exclusively based on price action rather than fundamental or technical analysis.
Best Time Frames: H4, and D1
Recommended Currency Pairs: Any
MetaTrader Trading Indicators
- Signal trend
- ++Power
- ITMF SigAlert
- Volatility Quality Zero Line GZ
- PJ Over RSI
BUY Rules
- BULLISH “Price Action” candle
- ITMF SigAlert green histogram
- Volatility Quality Zero Line GZ green line
- PJ Over RSI green bars
SELL Rules
- BEARISH “Price Action” candle
- ITMF SigAlert red histogram
- Volatility Quality Zero Line GZ red line
- PJ Over RSI red bars
Trading NOTES
- Put the initial stop loss above the previous BEARISH candle or below the previous BULLISH candle
- Risk Reward Ratio 1:2 or 1:3
- Move stop loss to break even when price moves by the amount your risked. But in my experience with this is that you tend to get easily stopped out with a loss
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