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Forex Trading Systems – Ping Pong Trade
Jul 08, 2012 at 06:10
1,146 zobrazení
3 Replies
Členem od Jan 19, 2012
25 příspěvků
Jul 08, 2012 at 06:10
Forex Trading Systems – Ping Pong Trade
I like to call this a ping pong trade.
A nice forex price action pin bar formed on the forex pair: Usd Chf
Its a price action forex pin bar that is in line with the uptrend. (Remember to always trade with the trend)
Moreover, it has the 150 moving average (marked by the orange line) as support.
By just judging the above points alone and not adding other confluences, its a already a good trade to enter.
So where is our First take profit area? The blue line of course. Our 200 moving average.
Price will definitely stop at the area for some resistance. So that will be our take profit target.
So its pretty simple. Price touches the 150, and bounces back up to the 200. Just like a ping pong.
Forex Trading Systems – Ping Pong trade Follow up
Price indeed reached the 200 moving average to find resistance. And we have gotten our profit.
A quick profit we got here.
What we can learn from this scenario:
Forex trading need not be hard. By looking at it in this way, it is plain and simple.
No difficult forex indicators whatsoever. Just price action with moving average = Profits
Ezekiel Chew
I like to call this a ping pong trade.
A nice forex price action pin bar formed on the forex pair: Usd Chf
Its a price action forex pin bar that is in line with the uptrend. (Remember to always trade with the trend)
Moreover, it has the 150 moving average (marked by the orange line) as support.
By just judging the above points alone and not adding other confluences, its a already a good trade to enter.
So where is our First take profit area? The blue line of course. Our 200 moving average.
Price will definitely stop at the area for some resistance. So that will be our take profit target.
So its pretty simple. Price touches the 150, and bounces back up to the 200. Just like a ping pong.
Forex Trading Systems – Ping Pong trade Follow up
Price indeed reached the 200 moving average to find resistance. And we have gotten our profit.
A quick profit we got here.
What we can learn from this scenario:
Forex trading need not be hard. By looking at it in this way, it is plain and simple.
No difficult forex indicators whatsoever. Just price action with moving average = Profits
Ezekiel Chew
Členem od Sep 29, 2011
2 příspěvků
Jul 15, 2012 at 06:08
thanks
forex_trader_59378
Členem od Jan 11, 2012
27 příspěvků
Jul 18, 2012 at 05:43
nice, any further updates for recent trades call?
Členem od Jul 29, 2012
1 příspěvků
Jul 29, 2012 at 20:11
first time to hear about ping pong trade, nicely called so!
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