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After 12 years of thorough research, exhaustive back testing, and converting his knowledge of Forex into a profitable Forex system.....
Bare bones trading is the simplest way to trade in the Forex market. So what is bare bones in Forex trading? I believe all that's needed is a Daily chart with price action and no indicators. The question now is how do I identify a valid trade setup with entry and exit points? This is where Horizontal or Key levels come in, which is the“core” component of my trading strategy. In this article I will be discussing how to identify these levels and why it should be a fundamental part of any trading strategy.
Now that I have a trading plan as well as some form of money management in place, I will need a trading strategy. I will be focusing on the Price Action strategy. What is price action? The best way to describe it's the “footprint” of money. Financial markets are where money is exchanged between market participants, and this exchange of money leaves a trail, this trail is a market’s price movement or price action and it can be observed on a price chart.