How to Detect Fakeouts - Learn Forex Trading With BabyPips.com

#USDCAD #TechnicalAnalysis ~~ The counter has bounced off strongly from the support 1.31, after trapping the bears with a fakeout. ~~ Now, it has taken down a #bearishtrendline as well. ~~Hence, we expect the pair to be bullish in the short-term. https://traderpulse.com/forex-analysis-app/#pricing

#USDCAD #TechnicalAnalysis ~~ The counter has bounced off strongly from the support 1.31, after trapping the bears with a fakeout. ~~ Now, it has taken down a #bearishtrendline as well. ~~Hence, we expect the pair to be bullish in the short-term. https://traderpulse.com/forex-analysis-app/#pricing submitted by traderpulse to u/traderpulse [link] [comments]

Just some inspirations / reminders on strategy development

I just talk about really major pairs like EURUSD, USDJPY, etc.
Forget about catching a trend, if you wanna trade trends, commodities, stocks, index funds trend way better, a lot more opportunities than forex. Major currencies range at least 70% of the time, if not more. Learn how to make money from ranging markets and hold a trend once you catch it.
The biggest purpose of currency is for settling transactions, not for scalping profits. That's why it doesn't trend (aka remaining stable). Stability is why a currency being "major".
Therefore most indicators don't work well with these currencies because first they are not designed for forex, second most of them only tell trends or overbought/oversold. Unless you are Soros or central banks etc no major currency can be overbought or oversold.
Take advantage of "fakeout" (I still wonder if it's the right way to call it so, Trump's Tweets are one of the sources IMO). Accept the fact that it happens and think about how to profit from it. Market makers and big banks are also just market players, even though very much bigger, they are also profiting from each other. If you can't beat them, join them.
Choppy market is still better than a still market.
No market maker cares about support or resistance. Like no insider or institutional money (i mean human not machines) would spend hours and hours on charts drawing trend lines before they place an order. Why would you?
Planning how to react in different scenarios after a position is opened is much better than trying to act like a crystal ball by looking at history when you trade something that ranges most of the time. The moment you observe a trend, chances are the trend is (almost) over. Even if things are against you, most of the time you can turn it to break even without using lots of margin. (Most news are just as big as baby's cough.)
But still, very few news are really big (911, fukushima, brexit, covid, name it), don't ignore the news completely.
Money management is very important. Most traders (of course including many of those on reddit) just talk about how to make an entry but seldom talk about how to manage an already open position or how to close a trade. The latter is way more important than the former.
Besides japanese candlesticks, there are a lot more charting options out there.
Be creative and know what you are trading to the deepest !
submitted by cindyhont to Forex [link] [comments]

Thoughts on Breakout/Breakdown Trading in Forex?

With stocks this strategy has worked for me in the past but, when implementing it on forex it just doesn’t work. I get juked out A LOT. What’s the biggest help with knowing the difference between a false breakout and real one.
submitted by WallStKing to Forex [link] [comments]

Patience

How do the more experienced traders weather the storm?
You are waiting for a potential set up. You only have forex on your mind. 1 hour seems like a lifetime away. You can't help the urge, you go off script and buy into some random pair based off some random reason. It goes against you slightly, in a panic you exit , and repeat. Days end net profit/loss 0. Turned out today was a good day for the planned strategy but you squandered it all because you were going crazy in impatience.
I am waiting for a break out, but I don't want to set pending orders in case of a fakeout, I like to have my way of confirming.
submitted by Trivial-Savoir-Faire to Forex [link] [comments]

The State of Trading (in the Bitcoin Markets)

I wanted to make a post of my interpretations of current state of sentiment and trading in the bitcoin markets and see if others share similar views:
1) Since mid-January (9months) we have been rangebound/trendless/sideways essentially between $200-300 with fakeouts to the upside and downsides. There certainly has been a general loss of interest by traders as many have turned to trading other markets -- here is a TradingView Chat activity of Bitcoin VS Forex VS Stocks and indexes: http://imgur.com/8LyeHjt
2) Volume across exchanges doesn't seem to be waning that much which would be indicative of what we would see in the despair phase of a bear winter -- I am not suggesting this as any inflection point or calling an end anytime soon™. We are also seeing the rise of Skynet again as it appears Bitstamp has bought the ever effective Star OKCoin volume washing bot: http://imgur.com/q6EAkle -- we also see the return of the random 10k BTC candles appearing again on OKC spot which used happen almost daily.
3) The traders/degenerate gamblers are/were the last people still interested in bitcoin in such a committed way IMO -- yes there are those 21inc companies and blah blah but really I don't know anyone else who is still waking up to bitcoin price alarms or forgoing activities with real life friends when price action calls. And now we are even seeing some of this interest wane as I believe the ramping up volume washing bot activity is the Casino trying to keep the lights flashing and the sounds blasting so that we keep wanting to play the game. Take a look at the volume on Stamp when it introduced that MM bot: http://imgur.com/MZdxIdp
submitted by BTCVIX to BitcoinMarkets [link] [comments]

Anybody using Trend Catcher?

I’m new to forex trading and have gained quite a lot of basic knowledge from baby pips and a course on Udemy. I’ve been checking out the Trend Catcher indicators and they seem to be really accurate and have very few fakeouts. What do you guys make of it? Here’s a link to where I found it: https://www.babypips.com/trading/forex-hlhb-system-explained
submitted by Nismor32gtr to Forex [link] [comments]

False Breakouts / Fakeouts: How to Trade them Effectively ... Breakout trading vs fake out trading FAKE OUT IN FOREX How to avoid FAKE OUTS in Forex  Consolidation - YouTube How To Avoid Fakeouts While Trading Forex - So Darn Easy Forex™ Naked Forex: Fakeouts and Breakouts (Find Clues Here) Trading HOW TO AVOID FAKE-OUTS IN FOREX! // Win Often / Catch The ... Naked Forex: How to Avoid the Fakeout Pullback The Secret to Forex Breakouts (and How to Avoid Fakeouts)

How to spot Fake outs Forex. A Fakeout (Fake Breakout) is a form of manipulation to trap breakout traders. If a breakout trader sees that there is a big breakout that breaks through a strong resistance or support, he thinks it will continue to break into the end of the world. However, the price makes the reverse and then it comes back to the stop loss of the breakout trader. In the next section, we will dive deeper into fakeouts and discuss why we should trade them and how to profit off them. It’s not enough learning about breakout strategies because there will be times that breakouts FAIL. We have to know what to do in case of fakeouts. This is part of your Jedi forex training. To be a Jedi master, you must be ... 1. Personal Introduction; 2. Introduction; 3. Vocabulary; 4. Types Of Trading; 5. Pips & Lot Sizes; 6. Calculating Gold & US30; 7. Brokers; 8. Times To Trade Trading Fakeouts. It is a common perception that it is impossible to trade these fakeouts, but that is not true. We can trade fakeouts, but a lot of market understanding is required to do so. #1 Strategy . The image below indicates a fakeout followed by an actual breakout in the EUR/GBP Forex pair. As we can see below, when the price breaks above the breakout line, it started to hold there. If ... Example of Fakeouts in Fx Trading. Now that you are familiar with how fakeouts work in Forex, I will give you a few additional examples that should make the picture even clearer. Above you see the H1 chart of the GBP/USD Forex pair for the end of May 2017. At the bottom of the chart, we have the Volume indicator. The example shows a bullish ... Fakeouts basically happen because the forex market is extremely liquid, and while some people will give a lot of weight to certain support and resistance levels, others will not, and hence the market will move in unpredictable ways. Consequently, you certainly need to use a good money management strategy to protect your balance. Fundamentally, this means you should never use more than a few ... A Fakeout (Fake Breakout) is a form of manipulation to trap breakout traders. If a breakout trader sees that there is a big breakout which break through a strong resistance or support, he thinks it will continue to break into the end of the world. However, the price makes the reverse and then it comes back to the stop loss of the breakout trader.

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False Breakouts / Fakeouts: How to Trade them Effectively ...

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