Otto from Norway is one of the students in BecomingTraderFX trading academy. In this video, we shared his great forex swing trade on USDJPY with more than 1:4,5 Risk:Reward ratio using the simple price action strategy & style. He is great at his trading mindset, risk management, and technical approach. He is very disciplined with this trading journal and plan and he is great forex swing trader! This is great example on how our student Otto traded USDJPY with Daily & 4-Hourly charts combination.
As price approached the major daily, 4 hourly resistance he looked for bearish forex swing trading opportunity on the 4 Hourly chart to target the Major support zones. By placing the stop-loss over the resistance on 4 hourly chart, he then target the SUPPORT2 zone with great discipline and patience. He made 4,5x times more than he risked on this trade ( Risk: Reward 1:4,5)! In this video we discussed students great trade on the metal market – USDJPY using forex swing trading strategy. By doing the top-down approach (USDJPY anaylsis) using the high time-frames we can see our student Otto traded the USDJPY with great execution and management. Price action on daily and 4 hourly charts shows the price on USDJPY was in weak so Otto (our student) took forex swing trade, short trade at the major resistance of USDJPY.
In this forex swing trading video USDJPY we covered the top-down approach made by our trading student and his reasons to take this great swing forex swing trade on USDJPY. Simple FOREX swing trading strategy approach with powerful money management rules and simple trading rules combined with right trading mindset, psychology is the key to long-term success in trading forex. Risk management rules and correct trading psychology is our best forex swing trading edge, once we learnt to read the price action and market behaviour.