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Chapter 20, Part III. Trading Fakeouts. Page 11

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 22, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Aug 28, 2009
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    Commander in Pips: Well, it’s better do in a relatively calm market that does not stand in a thrusting move. The perfect situation is if the market is ranging. This environment is the best for trading fakeouts, thinking in that direction you have to understand what trading session and week days are most suitable for that purpose….

    But be careful. Any range-bound action will end sooner or later with some news release, market event, data release or something. How this could finish you may see on chart #8…

    Chart #8 | 60 min EUR/USD ranging market with fakeouts

    P.S. This lesson was written by Sive Morten, who has been working for a large European Bank since April of 2000, and is currently a supervisor of the bank's risk assessment department. Sive's knowledge of forex market and banking industry is vast and quite complete. If you have any specific questions about forex, banking industry, or any other financial instruments, please post them on the next page and Sive should answer soon.

    Note: FPA ranks are earned in the battles against scam, not in the classroom.
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