Day Trading Short Term Price Patterns

Forex Day Trading Strategy

I love this stuff.  This is something once I showed it to the propriety traders in the last trading room I was in, they couldn’t believe it.  In fact, one of them couldn’t believe it so much he refused to trade it because he thought he was seeing things.

Even if you were a day trader and you can see a repeatable pattern which is, when the market participants get to a major resistance area, whether it is on the chart like this line here or whether it is on price like this two dollar level, they take a pause; don’t you think that you can expect to see certain things even all the way down to an hour bar.  I mean, you are just looking at snapshots of an hour at a time?  The answer is absolutely.  That’s the whole idea and the whole premise behind short term trading.  We can see these areas on the chart where professional traders are going to pause.  There are a lot of reasons why they are going to do it.

George Soros is not a trader.  George Soros hired a guy to do all his trading for him.  George Soros was the strategist.  He was the brains behind the operation but Niederhoffer was actually the guy who actually executed the trades.  What Niederhoffer is going to see is either the chart pattern, meaning he is going to see that there is resistance here; he is going to see the chart or he is going to be watching every single trade and he’s going to see, wow, the British pound is having a hard time over here and he’s going to call George and say, hey Georgy boy, let’s stop buying for a little while.  Let’s see what happens to the market.

Then after he sees that buying is starting again, he will say hey George, now we can buy.  So he is going to tell George; okay, let’s start going in again.  That’s where the big money comes is and they start pushing the market up even more.

I know I am going very fast on all of this.  You’re going to get this information.  All of this information is available to you.  I am not going to teach you something and down the road you know, try to sell you something else.  It’s in the course.  Believe me, if I have something new, I am going to put that on the website too.

You have all of this information for you. Just keep in mind that is why we can plan. That’s why I can tell you ahead of time, sometime a week or two ahead of time what to expect, when the market is going where it is going to go.  All of that goes into my analysis.

About the Author

Mac X is recognized as a forex expert trainer, forex trader and author of three best-selling forex trading books and Home Study Courses including “How To Get Filthy Stinking Rich Trading The Forex” book and Home Study, “How To Trade The Harmonics of The Foreign Exchange Markets”. Mac X has trained over 1,300 students in large forex seminars, one-on-one and small groups. Read Mac’s Forex Blog for more Forex Trading information at TheInsiderCode.com.

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