Price Action Basics How to scan the whole actiivty.

Forex Intra-day strategies Should Include enough logic that you can scan multi pairs at a given time, because it gives you the idea to trade Forex According to your strengths and scanning multiple Pairs gives you that benefit.

In my View If you trade only few pairs then you try to force the issues to enter forcefully when there is not even a single clue of what is happening and Outlook seems to be Neutral According you Trading Plan.

See the Gbp/cad Chart Scanning Friday Activity

The chart of Gbp/cad tells us that When we have primary breakouts then we should look for Price Behavior as I have mentioned in my earlier post. I strongly believe when after breakout price consolidates for much longer time then it means the price has fade out the momentum and that is a type of activity that is happening in Currencies market to trap traders.

But after we see minor development and when it is tested it found more "aggressive volumes" and we see violation and another breakout, then it give us hint that in future there is a big chance that this area will be protect (If it is tested) as background tells us enough accumulation and then buying could be distributed in whole trading range which could be the case.

when price test that area we found strong "demand" and We need to be quick to enter and should be aware "How to cover quickly" with small loss if momentum fade out again but chance of probability that such trade will succeed is more than 50% which should be good enough for a trader to enter as compare to low probability or use of any mechanical system.