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Although I am self-taught, I also used the term ‘order block’ when looking at the last candle before a strong up or down movement within the market, often breaking a key area of supply and demand.
What I’ve found, however, is that the concept of Order Blocks, if kept simple, can be extremely effective especially when entering several times within a single trend; using scale-ins where possible.
I know that the official term of ‘order blocks’ used by some other traders here on YouTube have a far more detailed explanation of Order Blocks, but this here works well for me.
I’ll be creating a video soon which will help identify a good order block vs a bad order block by considering things such as breakers, imbalance, moving averages, and stochastics (if indicators are your thing). Until then, please do let me know your thoughts in the comments.
Thanks, everyone, and happy trading.
VIDEOS TO HELP:
Check out my previous video on How to Trade Breakouts like a pro: https://youtu.be/gxJYJoqMQfI
How to place Support & Resistance Zones: https://youtu.be/I36Kio0eswY
Probably the best London Breakout strategy out there: https://youtu.be/qxvtBm5hi2g
TRADING:
📈 TradingView Platform (Where I mark my charts) –
https://uk.tradingview.com/gopro/?share_your_love=K1_ng (I use the Pro Version)
SOCIAL:
📸 Instagram – https://www.instagram.com/realpaulmagee/
⭐️Join the same Forex trading community as me:
https://www.guerrillatrading.co.uk?aff=2879
—Disclaimer—
I am not a registered financial adviser and hold no formal qualifications to give financial advice. Everything that is provided in this video is purely for educational purposes only. All information here should be independently verified, researched and confirmed.
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex Market, you should carefully consider your investment objectives, level of experience, and appetite to risk. Most importantly, do not invest money you cannot afford to lose.
#trendtrading
#daytrading
#trendfollowingstrategies
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