Daily Price Action
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Category Archives for Justin Bennett’s Forex Lessons

How to Trade Equidistant Channels

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GBPNZD ascending equidistant channel on the 4 hour chart

The equidistant channel has become one of my favorite technical patterns to trade. It’s formed by two parallel levels of support and resistance. The equidistant channel can be bullish (ascending) or bearish (descending) depending on the direction of the trending price action. In this lesson, we’ll take a look at both the ascending and descending channels. […]

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Your Best Offense is a Good Forex Defense

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When it comes to trading Forex, your best offense is a good defense. What does that mean, exactly? It means that as long as you maintain a defensive mindset, your chances of becoming profitable increase exponentially. For those of you who follow sports, you’ll recognize the saying as “the best defense is a good offense”. It […]

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A Simple Checklist for Trading Pin Bars

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checklist for trading pin bars

Is it oversimplified to say that in order to become a consistently profitable Forex trader you need to only trade the best setups? Probably – I think we can all agree that this is considered common knowledge. But what isn’t so common is what makes a pin bar setup the “best”? Furthermore, how do we identify these […]

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How to Protect Yourself From a False Breakout

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illustration of a false breakout

One of the more frustrating experiences when trading Forex is the false breakout. It often comes on the heels of a perfect price action pattern that seems to have everything going for it. You set your pending order, the market breaks out as expected, but before you know it the market has fallen back inside the aforementioned […]

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What Time Frame is Best for Trading Forex?

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What Time Frame is Best for Trading Forex?

Ah, the age-old question – what time frame is best for trading Forex? If only it were enough to give you one answer and be done with the debate. You see, every trader is different. Every one of us has different personalities and therefore different needs as human beings. And if there’s one thing I […]

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