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Advance price action trading strategy for the professional traders
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Advance price action trading strategy for the professional traders 2 months, 3 weeks ago #10875

Price action trading strategy is now considered to be one of the most profitable and powerful trading strategies in the financial world. There are many professional traders in the forex market who are making tons of money by using the price action trading strategy in their trading. However, in order to master the art of price action trading strategy, you need to have strong knowledge about the support and resistance level in the forex market. In the eyes of trained professional, they key support and resistance level in the market is the best possible place to trade with price action confirmation signal. In this article, we will discuss some of the advanced technique of price action trading strategy which will enhance your trading performance to a great extent.

Minor retracement in price: The forex market is always trending and it retraces to a certain extent before it moves forward in the direction of the trend. You might have heard the famous proverb in the forex trading industry that the trend is your friend in the forex market. So in order to trade in favor of the long-term prevailing trend in the market, it’s highly imperative that you know how to identify the in order retracement in the market. For instance, if you spot a bullish price action confirmation signal in your online trading platform don’t just jump into the trade since the market always retraces to a certain extent once the price action confirmations signal is formed. So if you trade in the minor retracement of candlestick pattern then you will be able to execute high-quality trades in the market with much tighter stop loss and thus reduce the risk exposure in trading.

Use Fibonacci retracement tools: Fibonacci retracement tools is widely used by the professional traders all over the world. Even the newly emerging trading community in Singapore is putting a great deal of emphasizing on the Fibonacci retracement tools. Most of the professional price action traders execute their trades in the online trading platform once they find the reliable candlestick pattern. But the advance professional use the Fibonacci retracement tools to fine-tune their trade in the market. As a professional trader, you should trade only the important Fibonacci retracement levels and those are 38.2 %, 50 % and 61.8 percent retracement levels. But when you use the Fibonacci retracement tools in the market make sure that you broker is proving powerful charting tools since it is one of the prerequisites to executing high-quality trades in the market.

Use fundamental analysis: There are many price action traders in the forex market still struggling to make money in trading since they ignore the fundamental factors. When you do the technical analysis in your trading platform you should also do the fundamental analysis. Some experts believe that fundamental analysis is one the most powerful tools to do the perfect analysis in the forex market. So if you think that you can master the art of price action trading strategy without learning the fundamental analysis then you are completely wrong. Look at the professional trader’s country then you will see that all of them are doing the fundamental analysis for trading the different price action candlestick pattern in the market.
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