The Authority’ on Price Action Trading. In 2016, Nial won the Forex strategies for ichimoku cloud Dollar Trader Competition.
In the above forex education video I introduce traders to the concept of forex trading using confluence. 2 or more trading signals come together at a common point. When we have a horizontal line on a chart and an uptrend line or a moving average, and the two meet at the same point, this would be an example of confluence. The beautiful thing is when we are trading we can put into our trading plan conditions that must be met for confluence. Condition 1, do we have confluence of two factors to support the direction we are trading? An example of this would be a moving average cross over to the upside and an uptrend line that aligns at the same point as a moving average, if we then buy a pullback, or go long on weakness in the uptrend at this intersection point of signals, we are then trading at confluence.
The 3rd variable is the price action confirmation signal, in his video the price action signal was a pin bar. This is called 3 variable confluence and it’s a very high probability way to trade the forex market. Nice video on good feedback as well. Great video Nial, thanks for sharing your abundant knowledge. I know you are pro-price action and I am learning to think that way as well. I fully believe that price can do anything it wants WITHOUT the permission of RSI or Stoch or CCI etc. Don’t you think Ichimoku has many of these confluences built in?