Counter trend trading the forex markets

The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. I hope you guys pay close attention to today’s article and refer back to it when you have any questions about how to trade or identify a trending market. I will counter trend trading the forex markets refer you to this article!

Many traders spend countless hours and dollars on trend-following trading systems or on indicators that just end up confusing them and making the process of trend discovery a lot more difficult than it needs to be. I have always been a strong proponent of visual observation of the raw price action of a market, as you probably know. I also believe that simply observing a market’s raw price action, from left to right, is the easiest and most effective way to identify a trend and to spot high-probability entries within it. However, just randomly jumping in with a trending market is not an edge or a strategy. As a market moves higher or lower, its previous turning points, or swing points as I like to call them, become reference points that we can use to help us determine the trend of a market. The most basic way to identify a trend is to check and see if a market is making a pattern of higher highs and higher lows for an uptrend, or lower highs and lower lows for a downtrend. Thus, general observation of a market’s swing points is the first point of call in determining if a market is trending.