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Technical Forex

The document is a technical forex trading guide focused on price action and support/resistance strategies, emphasizing the break and retest method. It provides a step-by-step approach to identifying trading setups across various timeframes, highlighting the importance of recognizing price patterns and managing risk. The guide aims to educate traders on effectively reading market movements and executing trades without relying on indicators.

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Abdullahi Dayyabu
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11 views18 pages

Technical Forex

The document is a technical forex trading guide focused on price action and support/resistance strategies, emphasizing the break and retest method. It provides a step-by-step approach to identifying trading setups across various timeframes, highlighting the importance of recognizing price patterns and managing risk. The guide aims to educate traders on effectively reading market movements and executing trades without relying on indicators.

Uploaded by

Abdullahi Dayyabu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Technical forex ms Technical Forex Pdf This pdf only consists of charts with explanations and breakdowns of every move price makes and where the turning points are and how you can take advantage of it. We will mostly work with support/resistance, aswell as fakeouts and how to trade it properly.We don't believe in any indicators and our trading is pure price action and technical trading.Break+retest is the strategy we mostly use and it's quite simple to understand and can be really profitable and consistent if it's traded correctly. Just a reminder, you will not recognise these patterns overnight , it takes some time and exercise on the charts to see these ‘small key things happening right before your eyes, So let’s get to the charts.This is for educational purposes and | hope this POF file will help you to read the market and the way it moves much better, all the answers is in the price and candles. Step by step guide to spot ‘setups using S/R zones. 1, Open the charts and look atthe Daily/4H timeframes to get a bullish) beorish bias before you start. This strategy works on any pair also. Once you have a bias you can go to the 30min/1H timeframes to look for setups, It works on every timeframe but the higher the better. ‘Always look for oreas where price has rejected and bounced off atleast two times, then mark the zone S/R. |. Then all you dois wat for price to break through that zone you marked. . After the breakout, wait for price to retest the broken orea ond then enter (08 500m as price is in the zone. 6, We don't wait for confirmation because Ive seen in the past you miss out on olot of pins becouse when a zone gets rected’ close is usually lready oot of pins, so as soon os the trade goes against you nd the price close below or obove the zone, you simply wait fora retest nd then close the trade ot breakeven or smal loss. 7. When a fokeout happens wait for price to close below/above the zone (ond then enter on the retest. 8, Stoploss depends from person to person but in our cose it's usually 10-20 pips and tke profit aso depends onthe price ction. 9, Alter we reached atleast 20 pips in Profit, you can close your positions or leave one position open and put your stoploss ot breakeven. 10. We alaays trade the London open 11 2 until the NY open, thats when alot of ur setups present tse becouse theres lt of volt inthe market. Fo breakout happened, t's better fit is ostrong break ofthe zone ifi's less thon 6 pigs it can most ely be 1 fkeout so look foro 8-10 pip break or more, Lastly secure your profits and always use good risk management ond don't be greedy. Toke what the market ives you. 1.10840 40835 . ws / j Support Breakout | sions Pet Pd sen | For beginners i would suggest to " Voy trade EURUSD/USDJPY/USDCAD /\ ‘I, has since they are not that volatile as Resistance Breakout hi " | GBP pairs and sometimes react ' i more accurately to S/R levels. i] tons SoM he NS TE Son Aa DA See MAAN USOWPY.HI mma Breakout Wi Resistance ‘il al snes N 1 ao a ia aa / ns30 Wh / Vy i\ Retost ii mata jemrcsal 290 Momentum trading at it's Support sumo best. Try to look for trending markets and buy the Breakout fr | ssn00 pullbacks as price retest the broken zones rina DApr 20005 Apr 20.00 N59 97 20:00 10 Apr 20-00 (GBPUSD, MN Even on a monthly aoseeo chart it respects the support/resistance os4a0 zones, train your eye to see this on all the 1.87400 timeframes And retest 178310 / 1189220 | Ki Il Mi peo ‘B0Nov 2002 “BD Nov 2004 ——-30Nov 2006 —<90Nov 2008 1Nov2010 +—«TNov 2012 ~—=—«ANov 2014 (GBPAUD, MS Another example to show My you can find this kind of at M sostes : ft setups on any timeframe, pacstance | ’ - this is the 5min. ‘ Resistance me “eee 1.84610 Resistance 1 \ \ 1.84136 If price is in momentum on Retest the higher timeframe(4H) «280 this is what the price action will look like. Buy on the‘ retests “WOctO2ES —“ Oct OES —«TH Oct OSHS «NOLL ORES —«TT Oct TOSS —«TTOCLIZGS —«TH Oct 14S CGapuy, D1 Alea This just show that it can be Breakout seen on any timeframes and I the higher the timeframe the Resistance Le, more probability there is, This is a Daily chart. | Resistance 1 [ I 7 MH | w! | Strong support zone Bil 2019 —-SAug 2019 WB Aug2019 ‘16 Sep 2018, Oct 2018 ines sas 360 raue60 aaa sa. sagen 127.900 Nor 7019 XAUUSD, MoO 1448,720 When you open the charts, look for places where price got rejected alot senses from, then draw your zone and wait for a breakou and enter on the retest agen 100976 Fakeout Big breakout 423.710 \ \ Retest \ , Strong Resistance \ “ 1. hd oa When a zone has alot of 1; 150 touches it becomes weaker and the breakout... .,, would be big jriuo7ao—adul0890 “WS ivi0a0 —YeuulT090 iT JultKa0 «Ye Lul12a0 «10 dul 1030 (GBPCHF, GO| 1.22680 1.20678 Breakout Resistance pane / i 1.2068 Stoploss below 1.21685 | | candle | I Put your stoploss in a place where the soe price can still go deeper into the zone without getting stopped out aia Sep 0800 —“SSep 1600 —“BSep0000 «Sop RGD © —»«HSepi1600 «10 Sep OGD © —T0 Sep 08.00 (eaPoap, mao Take this for example, remember as soon as the price closes below the close of this resistance zone, 60-70% of time the retest won't be valid and price will break through and go 1.61740 \ 1.61445 jrerts0 down. Close of zone | eoess ~s, Resistance zone Saree | eoseo / ‘ if ‘, Retest \ Fora valid | 6006s break+retest and to So sometimes you can also draw continue bullish your zones on a line chart to see price should not where the candles closed, cheabelowthe | zonelline | Tehig GEG Thug iGO0 TEvug O00 TEAugOS00 Ye ugi600 T6Auq0000 16 Avg 0600 (USO mao 5370 53005 e780 1 | 52.408 " | Trust me when you study the charts j suo every single day even for 2 months I straight, you'll start to see this Mh 1.985 patterns ‘TOet 00:00 Tet 12:00 7 Oct 07:00 TOct 13:00 ‘BOct 02:00 BOet 14:00 Oct 03:00 (GBPAUD, M30 This just shows how strong some zones sesso can be, but don’t be fooled, the more 1 J | touches a zone has the greater the y breakout will be,(It's becoming weaker after every touch not stronger cause the orders are getting filled) | / | I 1.82400 1.92220 Athy Von 4 iH Ho TH 4 J 223 | 1.0 Strong breakout ~~. | “Retest Ho\ 1.81680 | 1 Buy entry MI, ye 1.1500 ———— . 6 1.81320 ‘Bay 0530 S1May 10:0 SJunt430—Adun0390 <4 un10.90 —

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