You must be aware of the fact that trading higher times frames or shorter time frames depends on how good you are pointing out opportunities because price is Fractal and orders are random on every time frame.
In coming days or weeks, I would Point out how to trade fakeouts on both higher and lower time frames. Price often provide opportunities or change directions when it leave orders when it left an area (often termed as exhaustion areas) & when it come back it provide with an opportunity to pick pending orders..
Basic concept is that chart speaks itself
Chart below is of Eur/Aud which is good example of how to trade a randomn fakeout. Price provide opportunities when an order is picked on the reverse side as and when price revisit the area and You should be good enough to check where to enter and where to exit & Risk to Reward.
As I have explained above that random fakeouts are good to trade but mostly there are not too many random fakeouts and Smart money or institutional traders plays trick with levels and we should be good enough to sight the levels to trade with edge and this is the first post of the series and I would keep updating you all with the rest of the things you need to be know while trading these type of fakeouts which exists usually on every time frame but we need to trade only with higher probablity and good reward to risk..
Tricks are often played in Forex
Now, lets see how price behave in this pair . Chart posted above is of Cad/chf & I’ll post the live trade example once I sight an opportunity in the pair & no matter what happens, trade is on the cards, one way or the other & It playing with patience and looking to take stops hunting both side but finally there would be trade which will give us good enough pips to enjoy our life doing rest of the things & love to trade as well.
Price Action zones Explained with Real time Trade (Update on 24/04/2021)
As I’ve already explained in the post above the we just need to remain focus on zones and trades opportunities will arrive. You just need to mark zones on every time frame and target the pairs that are trending between zones. Check the chart above and see how price action fake the zones and return to the zones and got rejected immediately and found orders. I’m currently focusing on yet another pair Cad/chf & will update the blog as soon as the opportunity is provided. In the mean time check the chart below and look back on your screens & keep focusing on zones rather than lagging indicators or another mechanical systems that are not even worth trying..