The Price is Right: Trading Price Action

This thread is meant to be a learning thread, utilizing support and resistance techniques and basic trendline techniques to find very profitable entries and exits in the forex, commodities, and equities markets. It will be mostly based on collective knowledge gained from what I have learned through the teachers I have come across.

This thread is dedicated to Timothy Morge and Shane Blankenship, Redsword11, KennyZ, BillyRayValentine, Ifmyante, Sam Seiden on FxStreet with whom Redsword11 had studied and started the Price is Everything thread, wmd, and pipeasy. (in no particular order)

I highly recommend that if you have not read my first major thread, try to read the first 20 pages. I have decided to seperate these 2 threads, as the first was mostly based on Andrews Pitchfork, where by this is based more on Market Structure Analysis, as well as multiple timeframe techniques.

The One: Price Action and Reaction
http://www.forexfactory.com/showthread.php?t=565188

Here again I will post a some helpful materials to study and understand

There are many threads here on forexfactory to learn from. I have learned a lot from these threads, in no particular order.
Price is Everything
http://www.forexfactory.com/showthread.php?t=230888
No Brainer Trades
http://www.forexfactory.com/showthread.php?t=86429
Romancing the Price
http://www.forexfactory.com/showthread.php?t=288142
Building an Equity Millipede
http://www.forexfactory.com/showthread.php?t=245149
Andrews Pitchfork
http://www.forexfactory.com/showthread.php?p=8718943

Also of Interest
TRD Journal
http://www.forexfactory.com/showthread.php?t=562581
Trading with Deadly Accuracy
http://www.forexfactory.com/showthread.php?t=206723



you may also wish to google Chris Capre, as his methodology is similar.

Success Resources
Napoleon Hill Resources
The Law of Success
https://archive.org/details/Law_Of_S..._in_16_Lessons
Think and Grow Rich
https://archive.org/details/ThinkAnd...chNapoleonHill
Also good to read
The Science of Getting Rich
https://archive.org/details/TheScienceOfGettingRich_512
The Master Key System
https://archive.org/details/MasterKeySystem.pdf
The Book of Five Rings
https://archive.org/details/Miyamoto...ingsgoRinNoSho

To Begin with... looking at EURUSD Daily chart

Where did prices stop and Turn?

How can we take advantage of this?

Using these points, we can begin to see where the extremes will be made on a daily... this will help us to identify these highly profitable areas on an intraday basis.

This is a Daily, 4h, and 1h chart showing exactly the same lines. By drawing in the market structure in the beginning, you will be able to see easily how you can take advantage of the intraday swings in the market. This happens on the Weekly/Daily chart in every pair.

You may say to yourself... this is just another support resistance thread. I beg to differ. We will be examine how to trade on these extremes, using extremely small risk amounts, to potentially have huge rewards, instead of getting eaten up in between the levels that the major banks and whales look at.

Another example in GBPUSD

By utilizing only the Weekly and Daily areas you would have multiple attempts on smaller timeframes to capture huge amounts of pips.

Hi EagleStar, Based on the next support line you have drawn, do you expect price to retrace to support 1.0811?

Aussie Daily Zoom

We will begin to put together a highly profitable trading strategy using this information, but first we must understand more on market structure.

Please let me know ideas and thoughts, and if there is an interest to continue.

how do we extract the lines for our taking position ? thanks

Yes minimum

Sir, where that nobrainer trades that You mentioned ? i could not find it.
thanks

These levels happen every day, every pair, all the time. This thread will help you to understand the major market structure, and how to exploit it for your benefit.

Reread the first post

Trending Market Example

USDCAD Daily

Hi Eaglestar!

Very interesting thread you start.

I do subscribe for sure!

sorry Sir, with this trending market, do You mean that once the price touching the first line, we can expect the reversal to up again ? thanks Sir

Recently I have asked myself if there are some ff members left who trade S&D zones+PA the way Red, KennyZ or Julexo teached. I have seen some of the old followers in other threads trading other systems.
Not many could reach the level of master class in PA reading to trade S&D zones profitable and so the threads with their invaluable knowledge was forgotten.

I wish you good luck with your thread.

who wants to take bets that the EURUSD will bounce soon

The flow of levels works in every timeframe accross every pair. Using the horizontal levels to your advantage, you can exploit the trade. Daily/4h/ (1h/30min) has been working well for me in my research. I will show an example.

CADJPY charting example...

Do you mean EU will go up soon/ If so when? Kindly explain entry and exit with example

Looks like some early buying on EUR watch for bounce and retrace a bit