Trading with Price Action - Daily Trading Analysis

Hi guys. From now on I decided to post some upcoming trading analysis with price action. There are so many trading systems out there. Such as indicator based, technical based, indicator+technical based, Fundamental reading. I would not say that all of these are not good. There are many trading systems that has good accuracy that can make profits in those trading methods. Also keep remember there are many trading strategies that could blow up our accounts.

So the price action also a trading method that has great accuracy as well successful trading method among them.
However I would like to introduce the price action is kind of different than other technical based or indicator based trading methods.
Someone can say that price action means just a same name for technical analysis. Yeah that also kind of correct. But in my thought according my experiences I introduce the price action means reading the charts without any indicators.
Well let me explain with a little examples. You all guys heard of chart patterns right. lets take head and shoulder chart pattern




As you know, once creates a head and shoulder pattern markets going up after it's neck line as I shown in green arrow. and that's the theory. That is what which has written in the theory book. So we just taking trades because it has in our theory book. Not knowing exactly what is happening.
But if you know, why the market is going up like that? What is the reason for that? it must have been gone down after creates heard and shoulder isn't it? but it's going up. So why in the theory book has written that it's going up?

That's what we should found out. Not just only stick with theory. So in my intention of price action, price action means finding that reason. We simply call it "reading charts." Using price action, we are just finding why?, what is for?, what is the reason?. Finding behind the scenes of Forex market.
So once we know the reason, we don't need chart patterns, or candle patterns for trading. We don't need to wait until market creates such a patterns, We can analyze, we can look anytime the market what is going on. So according to my experience this is what called price action.
and one more thing,
If we want to take a sell entry, we should prepare it for when the market still in a buy trend. As well if we're going to take a buy trade, we should prepare for it when the market still in a sell trend.
But the most of traders doing is,
Anyone can say that oh yeah yeah, this is a buy trend or this is a sell trend after created half of that trend in the market. But most traders cannot say that before the trend creates in the market. And it’s easy and more accurate to predict with price action.


From today, I'm hoping to post some of my daily analysis results up coming events etc. as well I would like to see your thoughts and analysis too. post them here. Good luck.

Just made a YouTube channel for talk about analysis you can also follow this
Dhasfx

According to the current market situation USDJPY buyers could strong here

USDJPY

interested,,,subscribe and reading

Sorry for couple of days lateness.
Todays analysis EURGBP could be a downtrend. but before that market will make a little uptrend as a pullback. if it's continue to go down without making an uptrend pullback, we could be able to see strong red candles current price range area

According to the analysis. market gone down. This is called Price Action market reading method

Goe job you are doing but i observed that you dont post here always.

Yeah sorry for that delay. I will update here from now on

CADCHF I think buyers will take the control of the market.

The market gone as predicted

GBPAUD

EURNZD could be strong here

Hi DamSak, good thread! I have a couple of questions:
1. how do you analyse the chart? like do you check any price structure and timeframe first?
2. where do you enter your trades?
3. where do you base those red lines (prediction) in your chart?

Please reply. Thanks!

Hi. Well. I use couple more things to analyze the market. basically I'm watching how buyers and sellers behavior of the market. How they change in the market in which points buyers or sellers got stronger or weak. How true key support resistance works with candles I'm checking the buyers and sellers behavior with candles how candles works and slowing down and getting stronger near in support and resistance lines etc and about entering trades always depending according to the market situation for that also I'm watching candles confirmations to entering to the trades. there is no rule based certain place to enter to the trade. at least we need around 10 days data to analyze the market For the market reading method. I mean if we trade day trading, we probably use m15 h1 like that. So if we trade day trading atleast we need 10 days data to check the market how the market flown for the past couple days and we need to adjust for that. so the market is always changing. the pattern that creating today on the chart, that will not be created tomorrow. So when reading the market it is not a rule based theory method. it's always changing. basically
1. learn how buyers and sellers getting stronger and weaker
2. how they works near true support resistance lines. (not the regular support resistance)
3. use couple of days data.
4. check how candles weaken and stronger

The market is correcting here


It's on the pullback mood now

Currently Running Buyers

Target!

Attached Image (click to enlarge)

Hi Damsak, Thanks for reply! hope to see more charts and their explanations as well. Thanks! keep posting.

Hello damask. At your request, I see AUDJPY likely to drop. However, as seen below, the D1 is in an uncertain position so H1/H4 must be monitored closely. See more details here.

GBPNZD looks like buyers getting strong