Profitable Trading (during a tricky Price Action)

Profitable Trading (during a tricky Price Action)

Profitable Trading (during a tricky Price Action) 300 169 Minimalist Trading – Best Trading Indicators for TradingView

Turning an average Trading performance into a consistently Profitable Trading result can be challenging.

If then the Price Action makes very tricky movements, it can become a lot harder.

Luckily, you can become consistently profitable by learning a simple Profitable Trading strategy.

It’s the one that we used in today’s live trade on TradingView and it’s presented step-by-step below.

Not only it’s a consistently Profitable Trading strategy that we regularly use ourselves since many years.

In fact, when you learn this Trading Strategy, you’ll be able to win trades even if the Price Action makes tricky movements.

And it happened in this trade!

But guess what?

Regardless of the tricky Price Action movement, we were able to close this trade with a very big return.

The chart analysis suggests that we have a very solid technical setup, confirmed by all the three Forex indicators that we’re using in this TradingView chart. In particular:

We just set our Trading Target by projecting the previous impulse to the upside

And we stay relatively strict with the Stop Loss because we have plenty of confirmation by the trading indicators and the most recent price action.

Below here you find the step-by-step setup explanation and the Trading Strategy unfolding.

Trade setup – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 1

By carefully reading the TradingView chart, we are able to identify a buying opportunity.

What looks like a series of two separate impulses is, in fact, one single impulse followed by its consolidation.

It is possible to spot this tricky setup thanks to the Sentiment Index at the bottom.

Just see the blue trend line that we draw on the Sentiment Index… it covers one impulse and its consolidation.

So, the setup is definitely possible but we still need to wait for, at least, one candle and see whether our indicators confirm it or not.

Trade update – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 2

The setup is now confirmed because:

    1. The price broke up the consolidation
    2. The breakup candle is green (colored by the Breakout Pivotal Bars)
    3. The Sentiment Index broke up its trend line at the same time of the price

We set the Stop Loss a bit lower than the current candle and the Profit Target is going to be at the end of the first impulse projection to the upside.

Trade update – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 3

The price is moving up just as expected.

Trade update – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 4

The price has now stopped its upward movement and it’s moving sideways.

Trade update – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 5

The support has gone and a new resistance has formed above the current price level.

This is definitely something we don’t like however, we must stay rational.

If we look at what happened in the past, we clearly see that something similar happened twice in the recent past.

A new resistance formed, but then it ultimately got broken to the upside.

Now, we’re still expecting the price to reach our target because we know that these setups are very likely to reach their targets.

The only concerning thing is that the price might first stop us out, and then move higher.

If it happens, it’s a stop, otherwise, we should reach the target.

Either way, we don’t get emotional.

Trade update – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 6

It looks like the price retested our entry price and is now trying to make its up move.

Trade update – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 7

The volatility has increase but the price is now above the major level.

Since it is now a support, it should put a significant upward pressure on the price and so we should definitely reach the target.

Trade closed – 24 Feb 2020

A tricky setup but a highly profitable trade Setup 8

And, ultimately, we reached the target and closed another very profitable trade.

The initial setup was a little bit tricky, and the Price Action got tricky as well…

But we managed it perfectly by staying rational and avoiding emotions.

This is the only way to trade if you want to become a full-time forex trader.

The initial analysis with our Trading Indicators for TradingView was absolutely correct, and the easy Forex Strategy that we used proved to be highly profitable once again

In fact, we ultimately made a 4.7x profit on this Forex trade.

What about you? Can you consistently win your trades?

Let us know by commenting the YouTube video above!