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-   -   Understanding Price Action by Bob Volman (notes and examples) (https://www.forexfactory.com/thread/733640-understanding-price-action-by-bob-volman-notes-and)

clfever Jun 29, 2020 11:21am | Post# 61

From my opinion: There is multiple ways to answer why we are not using any type of indicator? the simplest answer is to be able to depend rely on the price only to justify our entry,exit and risk. in Bob Volman methods we are taught to use false high/low or False break to evaluate how we can use this type of info to our advantage with bollinger band basically you are focused in price high and lows which can send a false signal to enter or to exit a trade.

Butterscotch Jun 29, 2020 11:37am | Post# 62

This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.

clfever Jun 29, 2020 12:10pm | Post# 63

1 Attachment(s)
with price action, you should use with bollinger band. it will show to you a price action is ok? and, with me, i only use 2 type : Harami , enfuling.
let me breakdown why I enter short in attached chart pattern break combi in eurusd to make by point clear:

  1. Price failed to reach round number 1.13000 by forming triple top which is an info not a signal to act
  2. Price formed what we called pattern break which can lead to double pressure (we need capitalize and gain profit in double pressure situation)
  3. If we look carefully we easily see combi candles in the end of the buildup which lead us to act once the price moved below
  4. once I sell I'm looking for 3R 3xmyrisk, from where I sell to target there was no bullish candle to the target which also send another message the market could continue to decline.

Click to Enlarge

Name: eurusd pb 29-JUNE.PNG
Size: 18 KB


Brkt10 Jun 30, 2020 5:23am | Post# 64

An indispensable technique when trading Price action, it is drawing trendlines. If you draw a good trendline, the price action model will be more effective, and you will be confident when trading.
because price action is a "reversal", so when the candle hits the trendline and appears "reversed" then you will confidently trade, remember that at that time, the price was close to the bollinger band (above / below).

trinidad316 Jul 30, 2020 9:46am | Post# 65

1 Attachment(s)
If anyone still trades by Bob Volmans way heres a study guide I created outlining most of his principles. Still a work in progress. Maybe one day I'll write a more thorough review on his work.

Happy to talk to anyone who is looking to collaborate
Strategy Study Guide - V1.0.pdf


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