I’ve got another live trade to show you all today. This one is on the EURGBP market, where a the price action from a weekly level, and a trend line support meet.
This was a big ‘decision point’ on the chart, and would be the catalyst for a big breakout. My technical analysis pointed me to a down side breakout, and I was correct. The bullish trend didn’t have any more to give, as it had already been in existence for many months.
Breakouts of technical structures like long term trend lines can cause explosive moves, because it changes all the dynamics on a chart, and switches everyone from buying to selling, or vice versa.
In this video, I show you step by step how I used a double inside day breakout catalyst to catch the moment when the trend shifted.
There is also a bit of a surprise when I conclude the video.
Enjoy, and best of luck with your trading this week.
Loved the information. Really helped with reading the market and hopefully get in on some good trades.
Where do I get that EA, price action battle station? Thanks
Really like your explaination, very simple. Looking at the weekly chart and trade on daily timeframe. I ‘ve been practising the same method as well . But trading the double inside bars is really promising which I sometime overlook. After seeing your double inside bar trading explanation will be my priority in future trades. Thanks Dale.
good trade i wish i could read the market like that it is all just confusing, i would think the market would continue its trend up. 🙁
Fantastic trade Dale. Thank you for illustrating your thought process prior to initiating the trade which I appreciate so much more than the typical Monday morning quarterback reviews. Please keep these great lessons coming!
Mr K Kosa
I;ve wish I could do same even on the smaller scale!!
Great video mate and congratulations on a great trade.
Really love your calm case building style using price action and naked chart reading you make it seem so easy. I just joined your community and find your teaching methods to be clear concise and outstanding. I’m a complete beginner and so very glad that I found this community. Thanks
Nice trade Dale. Thanks.