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Price Action discussion

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  • Post #1
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  • First Post: Jan 10, 2015 9:17am Jan 10, 2015 9:17am
In my humble opinion,So-called Price Action is just the classical technical analysis which follows Dow Theory,the key is trend,define trend,find trend,use trend(follow or anti).What price gives us directly? Price patterns(bars) and swing highs/lows.Price patterns lead to top and bottom,swing highs/lows lead to trend lines and S/R lines.
BUT,the principle of trade is individual,the plan of trade is different.It depends on how we LOOK the things prices give us.right or wrong?! technical analysis is experiential,so does the price action.
A chart helps those who can read it.
Hi,

Sorry im a newbie, does anyone know what the 12 represents in the following parameter please?

S&R(12) Price Touched Support
Price Action is all about reading the pure chart without any indicatorar or robort as most traders do. In fact the simplest part of Price action trading is to trade what u see.

Take a closer look at the chart attached.
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Interested thread! Please keep going
Resistance & Support-------psychology game

At first,0.7900 area was a resistance for bullish,and price tried to break it twice,unsuccessful. It broken through this resistance at third time,then pull back to 0.7900 area,0.7900 area now turn into a support zone.

The stop loss position is 30 pips far away,at 0.7870.and the take profit position is @ 0.83 area-----the same breadth box in chart.

let's C.
Attached Image (click to enlarge)
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A chart helps those who can read it.
Quoting geniusztc
Resistance & Support-------psychology game At first,0.7900 area was a resistance for bullish,and price tried to break it twice,unsuccessful. It broken through this resistance at third time,then pull back to 0.7900 area,0.7900 area now turn into a support zone. The stop loss position is 30 pips far away,at 0.7870.and the take profit position is @ 0.83 area-----the same breadth box in chart. let's C. {image}
Hmmm... not sure about that!
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Quoting jen101
{quote} Hmmm... not sure about that! {image}
.
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Quoting Petr.K
{quote} . {image} {image}
Friday afternoon now, almost pin bar on weekly off key level
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Quoting jen101
{quote} Hmmm... not sure about that! {image}
yes,not sure----so called technical analysis.but the theory is right, isn't it?

and you put the monthly chart. on monthly time frame,I still choose the north.
A chart helps those who can read it.
Quoting geniusztc
{quote} yes,not sure----so called technical analysis.but the theory is right, isn't it? and you put the monthly chart. on monthly time frame,I still choose the north.
Yes, some conflicting signals, monthly has bullish engulfing also... I usually prioritize price levels and higher timeframes though I tend to stay clear when the timeframes can't agree. But I think south
non-sense....it's going north soon....it pierced upwards....do this all the time....that pierce is friggin huge

they're telegraphing the move way ahead of time...
  • Post #12
  • Quote
  • Edited May 5, 2015 12:44am May 4, 2015 1:34am | Edited May 5, 2015 12:44am
AUDUSD

support area on H4 chart-----the 365ema and 150ema, the 50% fib,the pin bar.
I choose to open long position here.
stop loss position below 150ema @ 0.777.

(by the way,there is a fundamental risk,the RBA may cut tomorrow.)
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A chart helps those who can read it.
  • Post #13
  • Quote
  • Edited 9:57pm May 5, 2015 12:32pm | Edited 9:57pm
take profit @ 0.7945
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A chart helps those who can read it.
USDJPY:the support and resistance on different time frame.

as we can see,there is a down trend line on daily chart,and the daily closed price MAY BE under this trend line.on H1 chart,the previous support area @ 120,I suppose it turn into resistance. however,the big support zone @ 118.50.

I open short position @ 119.93,and SL above 120.2X would be not bad.

Let's C.
Attached Image(s) (click to enlarge)
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A chart helps those who can read it.
Looks Good
DON'T TRADE THE DIRECTION, TRADE THE MOVE
take profit @ 119.25
A chart helps those who can read it.
Quoting geniusztc
Resistance & Support-------psychology game At first,0.7900 area was a resistance for bullish,and price tried to break it twice,unsuccessful. It broken through this resistance at third time,then pull back to 0.7900 area,0.7900 area now turn into a support zone. The stop loss position is 30 pips far away,at 0.7870.and the take profit position is @ 0.83 area-----the same breadth box in chart. let's C. {image}
unwilling to give up hope for bullish. when will I get 0.83?
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A chart helps those who can read it.
It is time to short it below the S/R level. as you can see.
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A chart helps those who can read it.
SUPPORT & RESISTANCE

At first,the strong resistance is @ 79.00. once price breaks though this level. the previous resistance turns to support. wait for the price pull back to this level again. It is the chance to long it.

regards.
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A chart helps those who can read it.
technical analysis can not analyze the past.

technical analysis can not forecast the future.

technical analysis can give you positions open and close trades with low risk.

for me, trade is a probability game.
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A chart helps those who can read it.
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