Today I’m going over a Beginner Forex Strategy that works. Whether you are new to the market, or you just want to get back to basics, this trading approach will certainly help you.
This is all based around the wedge pattern, and how I use it in my personal trading to capitalize on breakouts.
Just last week I used this approach to net over $2300 in a single trade.
Watch this video to learn about it, and see if it’s a suitable strategy for you:
Beginner Forex Strategy (Transcript)
Hey guys, I’m not trying to flex on anybody today, but this beginner Forex strategy helped me pay off my mortgage. Today I’m going to tell you all about it.
So, first things first, you probably want to see the house that I paid off, and then I’ll show you the Forex strategy. Let’s get into it.
So now you see how I’m living. I got some rentals at the house I’m still working on, but because I paid the house off, I decided to hit the Porsche dealership this weekend. And before I show you the Forex strategy, just take a look at this.
So that’s all the flexing I can do in one video, I never came from money. I never had money until Forex. So let me just show you the strategy, show you what’s working and show you a live trade I had where I made over $2,000 using this beginner Forex strategy just this week.
The Wedge Forex Strategy
Okay. So before we get into the Forex strategy, one, like the video, subscribe If you like this kind of content. Two, this is not financial advice. This is a Forex strategy that works for me, and it can work for you too. Three, I did not pay off my entire mortgage using just this Forex strategy. That’s clickbait. Sorry you fell for it. I’m involved in Forex signals, robots, a whole bunch of different things in Forex and online business in general. Now let’s get into the strategy.
At the foundation of my beginner Forex strategy is a wedge pattern. This is very important in helping predict price action. And when using this strategy, you don’t have to use a whole bunch of different indicators. You can really rely on the technical analysis. So let me start this by showing you a wedge, very simple, this is what a wedge looks like. This pattern can be spotted in the markets all the time, and it’s incredibly reliable for determining price action.
What you would see in a wedge is you will see price consolidating. So it will start something like this. It will bounce down, bounce back up, and this will keep happening until at some point it will break through either the top or the bottom. And the side that it breaks through is the side that we want to trade. What you’re seeing here is higher lows right here. We have higher lows right up here and that’s consistent that’s what’s creating this wedge we have. And then we have lower highs at the top right here, which is creating the wedge at the top and this creates kind of a spring effect like this. And then it gets strong and it either breaks through or breaks down. And that is our breakout and that’s where we can start making money.
+$2300 Trade Example
Now, let me show you how I use this simple, basic beginner, Forex strategy to make over $2,000 terminating the Bitcoin bearish movement of just a few days ago. Let’s draw the wedge here. You could see it’s going to touch the tops and that’s the top. And then I’m going to draw the bottom wedge here, and it’s going to touch the bottom and put us about here. Perfect. Now we have our wedge drawn and we could quickly take a look and see that this is starting to create the formation and the consolidation that we talked about before with it coming up and then it coming down and then going up and then going down and up and then down. So what we have is our lower highs right here. And we have our higher lows right here, which is creating a perfect wedge. And so now we know that when the price breaks through, we’re going to get a breakout.
What I’m going to do is just click forward and you can see right here, we’re going through, right? We’re breaking through. So now this is a point where some people are going to trade. They’re going to say, okay, I can get a quick scalp trade here. I can make some pips and you’ll see, boom. If you hit a quick scalp trade, you would have won it. But with this strategy, you want to wait for it to come back, it is always going to retest. So as I follow through, you can see it starting to retest and it’ll come back somewhere around here. So, and this’ll happen almost with every single one wedge. And now after the retrace is when you want to place the trade. So here we have our retrace and then we can place our trade right here. And then the market is going to dip down, dip down. And now we have our huge movement. This is what happened with bitcoin this week. And that is where we make our money. Now with this trade I made over $2,000. I saw this happening. I saw it break through. I ended up placing a trade somewhere around here, which is a mistake I should have waited for the retest. I knew that the market was going to continue going down. So I placed my trade there and then I let it come down. And I exited somewhere around here. Obviously, if I was watching the charts, I would have put a trailing stop on this and let it ride out. And I would’ve got a much bigger win, maybe even $8,000 to $10,000, but this win was still good for $2,300 using this excellent pattern.
Beginner Forex Strategy Trade Examples (Signals)
My team and I frequently use this beginner Forex strategy when we’re providing you with trades in the free Forex signal group and in the VIP signal group. And here are a couple of examples of those. In this first trade I’m looking at here, we have the us dollar in Swiss Franc. We can see the wedge created. We can see price consolidating. And then what happens? We get the price break through our wedge. It does a bit of a retest, which is where we set our buy limit order. And then it shoots up from there for an easy win. And if you were watching this trade, you could have one even more pips if you just let it ride a bit longer. The second example I’m going to show you is another Bitcoin trade.
You can see, we have the wedge on the screen here. It breaks through the wedge. At this point, we say, let’s set a buy, it is going to Jack it up. And now you can just take a look at the result, immediately we have our little retest here and then it jumps right up. We hit our take profit, and this was another easy win using the Forex wedge strategy. The beginner Forex strategy that I just showed you has made me thousands of dollars over the years. And while it’s not a magic wedge or something that it’s going to make you rich overnight, or maybe pay off your mortgage. This is a great introduction to price action and technical analysis in general, by understanding how to utilize a wedge, you can see when the market is about to break breakout and take advantage of it.
Even if you aren’t trading manually, it’s still a good idea that you understand the wedge so that when you see signals from me or from someone else that you understand exactly what’s happening. And speaking of signals, my Forex robot nation free signal group is kicking ass. My Forex robot nation VIP signal group is kicking ass. I just added one new analyst. So now we have two analysts and myself all providing you with the best signal opportunities available. I hope that my Forex strategy for beginners helped you today and that you come back to Forex robot nation, like the video, subscribe, and please go out there, get some money.