The PRICE | Forex Factory

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The PRICE

  • #1
  • First Post: Jun 1, 2011 4:17am Jun 1, 2011 4:17am
After beeing an occasionaly poster on another thread ,but most important I was prove to MYSELF that I'm constantly profitable @ long term,I decided to make my own thread.
My trading methodology is READING THE PRICE on upper time frames(monthly+weekly) with daily entries.Very often you heard about WPG(where is price going),but have you ever asked yourself WHAT THE PRICE IS DOING(WPD)?From this questions,it starts all my trading philosophy,and for me the most important thing in trading.During the time ,I discovered that I was the only obstacle to myself to become profitable.
If you have questions feel free to ask.Let's do it!
Nothing personal,just business
  • #2
  • Jun 1, 2011 4:25am Jun 1, 2011 4:25am
Abbreviations used:


P-PRICE
WPD-WHAT THE PRICE IS DOING
WPG-WHERE THE PRICE IS GOING
BUOB-BULLISH OUTSIDE BAR
BEOB-BEARISH OUTSIDE BAR
PB-PIN BAR
DBLHC-DOUBLE BAR LOW HIGHER CLOSE
DBHLC-DOUBLE BAR HIGH LOWER CLOSE
IB-INSIDE BAR
S-SUPPORT
R-RESISTANCE
SW-SWING
C-CLOSE
O-OPEN
PA-PRICE ACTION
RN-ROUND NUMBER
TL-TREND LINE
RET-RETRACEMENT
CT-COUNTER TREND
SL-STOP LOSS
TP-TAKING PROFIT
BE-BREAK EVEN
RT-RETEST
H-HAMMER
SS-SHINING STAR
IH-INVERTED HAMMER
HM-HANGING MAN
IPB-INVERTED PIN BAR
MM-MONEY MANAGEMENT
RM-RANGE MARKET
DT-DOUBLE TOP
DB-DOUBLE BOTTOM
LL-LOWER LOW
LH-LOWER HIGH
HH-HIGHER HIGH
HL-HIGHER LOW
TF-TIME FRAME
M-MONTHLY
W-WEEKLY
D-DAILY
PTT&TTP-PLAN THE TRADE&TRADE THE PLAN
Nothing personal,just business
  • #3
  • Jun 1, 2011 4:52am Jun 1, 2011 4:52am
This is a post I made in apr5.Look @ P today!
Attached Image (click to enlarge)
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Nothing personal,just business
  • #4
  • Jun 1, 2011 5:04am Jun 1, 2011 5:04am
If it closes above 67...68.50....69.50 are the next targets!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzdjpy-w.png Size: 48 KB
Nothing personal,just business
  • #5
  • Edited 8:00am Jun 7, 2011 3:40am | Edited 8:00am
After posting succesful trades on another price action thread, but most importantly after I proved to MYSELF that I'm constantly profitable on a long term, I decided to make my own thread.

This trading methodology is based on PRICE at support and resistence levels. It was studied for long term conservative traders witch analyse the PRICE as a priority. From this point of view, my methodology was developed to study and analyse the market in a deepest manner, beyond bars, candles, patterns, etc. Beeing a long term method, it fits those traders who don't want to remain stuck in front of their screen for all day long, but want to dedicate their time for family, friends, hobbies, day job, etc, but most of all those who want to maximize their profits.


My trading methodology is about READING THE PRICE on upper time frames (monthly + weekly) with daily entries. Very often you heard about WPG (where is price going), but have you ever asked yourself WHAT THE PRICE IS DOING (WPD)?

My trading philosophy starts from all these questions, and to me they are the most important elements in trading. During my trading journey, I discovered that I was the only obstacle to myself to become profitable.

Let's do it!

　

My words are very simple, just as my method is, and I apologize for the typos, English is not my first language.
Nothing personal,just business
  • #6
  • Jun 7, 2011 3:42am Jun 7, 2011 3:42am
Abbreviations used:


P-PRICE
WPD-WHAT THE PRICE IS DOING
WPG-WHERE THE PRICE IS GOING
BUOB-BULLISH OUTSIDE BAR
BEOB-BEARISH OUTSIDE BAR
PB-PIN BAR
DBLHC-DOUBLE BAR LOW HIGHER CLOSE
DBHLC-DOUBLE BAR HIGH LOWER CLOSE
IB-INSIDE BAR
S-SUPPORT
R-RESISTANCE
SW-SWING
C-CLOSE
O-OPEN
PA-PRICE ACTION
RN-ROUND NUMBER
TL-TREND LINE
RET-RETRACEMENT
CT-COUNTER TREND
SL-STOP LOSS
TP-TAKING PROFIT
BE-BREAK EVEN
RT-RETEST
H-HAMMER
SS-SHINING STAR
IH-INVERTED HAMMER
HM-HANGING MAN
IPB-INVERTED PIN BAR
MM-MONEY MANAGEMENT
RM-RANGE MARKET
DT-DOUBLE TOP
DB-DOUBLE BOTTOM
LL-LOWER LOW
LH-LOWER HIGH
HH-HIGHER HIGH
HL-HIGHER LOW
TF-TIME FRAME
M-MONTHLY
W-WEEKLY
D-DAILY
PTT&TTP-PLAN THE TRADE&TRADE THE PLAN
Nothing personal,just business
  • #7
  • Jun 7, 2011 4:28am Jun 7, 2011 4:28am
The support and resistence are one of the most powerfull toll in trading and we will call them: levels. They are given by market's (buyers/sellers)emotions.

There are two types of levels: statics and dynamics.
The static level have three way to identify it,but at this stage, we will use only the first one: the swing's close.
The bar/candle/swing's close is only thing that really matters, the rest of all, are just elements that we use for a proper money management.

This is our chart, clean, with no indicators, EA or any useless elements, but with the most important trading's factor....the PRICE.

USDJPY

After a powerfull down trend , the PRICE is consolidating. The last month, the buyers tried to deffend the range market(RM)'s support level,but the sellers are still very strong, because of a trend's force.
On weekly(W) chart, we see the buyers'attempt to deffend the support(S), but sellers with a two weeks pin bar(2WPB) have turnd the PRICE back to the RM's support level, where on the daily chart it is a greate battle for.
Attached Image(s) (click to enlarge)
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Nothing personal,just business
  • #8
  • Jun 7, 2011 5:15am Jun 7, 2011 5:15am
This is a wonderful example of READING THE PRICE in base at WPD (what is price doing) an WPG (where the price going) .
Attached Image (click to enlarge)
Click to Enlarge Name: wpd+wpg.gif Size: 40 KB
Nothing personal,just business
  • #9
  • Jun 7, 2011 5:53am Jun 7, 2011 5:53am
Waiting for for more details about how/when to enter/exit
  • #10
  • Jun 7, 2011 7:19am Jun 7, 2011 7:19am
[quote=FXtime;4670792]
Quote
Waiting for for more details about how/when to enter/exit

Hi FXtime an thanks for your contribution!

As I said, this methodology is for conservative traders and the entries are only the confirmation that the sellers/buyers have the control based upon WPD.

The exits are also given by WPD, but mostly by WPG.

This is an example of one of my entries:
After the buyers took out the Price from bullish flag, the seelers started to push the Price back (2011.05.01 beob).At that point we knew very well WPG (where the price is doing) and why..to retest the old bullish flag resistence, now becamed support.
With the W candle (05.15) we have the confirmation that the buyers are taking the controll,but they aren't ready yet.
On D chart, after a little consolidation above 0.8660 level where the buyers were loading, on 05.30, the buyers finally took the controll with a dblhc.That was the entry.
For the exit, I'm looking for 0.9657, but in trading ALL depends on WPD, so I'll read the price at resistence levels and when the Price will tell me that the buyers have no controll anymore, at that point I'll get out of market.

Looking forward for your posts.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurgbp-d.gif Size: 24 KB
Nothing personal,just business
  • #11
  • Jun 7, 2011 9:53am Jun 7, 2011 9:53am
Trade with price action , depend on our trading experience. Skill is the main indicator. So I think there is no fixed system about price action trade system



thanks for share fxgroup
------------
price action
  • #12
  • Jun 7, 2011 10:08am Jun 7, 2011 10:08am
I have learned about FXGroup's trades in the James 16 thread and they impressed me because they were made on a totally clean graph and would anticipate price behavior like clockwork.

Maybe this is a chance to see a new PA thread starting with old school, clean graphs and continuing staying clean. Too many PA threads readers I have seen, would start with real PA but then would start adding all sorts of indicators and start trading on 5 minutes bars.
  • #13
  • Jun 7, 2011 10:15am Jun 7, 2011 10:15am
[quote=errich fx;4671516]
Quote
Trade with price action , depend on our trading experience. Skill is the main indicator. So I think there is no fixed system about price action trade system



thanks for share fxgroup
------------
price action

Thank you for your contribution.

I tottaly agree with you. There are no fixed systems, for a simply reason. The market is made by human beings with their emotions witch are never fixed sistems.
When our experience learn to read the only thing that matters,the PRICE, then we understand what is the market doing/going !

Feel free to join us !
Nothing personal,just business
  • #14
  • Jun 7, 2011 11:38am Jun 7, 2011 11:38am
Great thread! I like to see price action trades on the higher time frame and I'm definitely going to be joining you in here!
  • #15
  • Jun 7, 2011 1:24pm Jun 7, 2011 1:24pm
[quote=dfumagalli;4671554]
Quote
I have learned about FXGroup's trades in the James 16 thread and they impressed me because they were made on a totally clean graph and would anticipate price behavior like clockwork.

Maybe this is a chance to see a new PA thread starting with old school, clean graphs and continuing staying clean. Too many PA threads readers I have seen, would start with real PA but then would start adding all sorts of indicators and start trading on 5 minutes bars.

Hi dfumagalli and thanks for your contribution!
Yours words are overwhelming me.

If you like old schools,clean graphs and you are not trading 5 minutes bars, this is your place.

Wellcome , we are looking forward to your posts.
Nothing personal,just business
  • #16
  • Edited 3:10pm Jun 7, 2011 1:28pm | Edited 3:10pm
Quoting fxgroup
Being a long term method, it fits those traders who don't want to remain stuck in front of their screen for all day long, but want to dedicate their time for family, friends, hobbies, day job, etc, but most of all those who want to maximize their profits.
I guess that's quite provocative. Some intraday traders might get driven to leave the cinema before the movie starts. lol.

I don't know what you intend, but if I were you I'd say something simpler like: I like long term trading, suits me better. period.

Just imo. It's your cinema.
The tone of your words reflects the quality and result of your trading ;-)
  • #17
  • Jun 7, 2011 1:41pm Jun 7, 2011 1:41pm
[quote=biDc;4671769]
Quote
Great thread! I like to see price action trades on the higher time frame and I'm definitely going to be joining you in here!

Wellcome biDc and thanks for your participations!

Your posts will be a useful contribution for the thread.Feel free to join us !
Nothing personal,just business
  • #18
  • Jun 7, 2011 2:41pm Jun 7, 2011 2:41pm
Will follow thread closely. Love learning about price action.
  • #19
  • Jun 7, 2011 2:49pm Jun 7, 2011 2:49pm
BEST SYSTEM PRICE but one can use the volume with simple price action wud be helpful



[quote=fxgroup;4671574]
Quoting errich fx

Thank you for your contribution.

I tottaly agree with you. There are no fixed systems, for a simply reason. The market is made by human beings with their emotions witch are never fixed sistems.
When our experience learn to read the only thing that matters,the PRICE, then we understand what is the market doing/going !

Feel free to join us !
  • #20
  • Jun 7, 2011 3:00pm Jun 7, 2011 3:00pm
Let's talk about PRICE.

Price is the Market and the Market is the Price.The Price could have three directions: up, down, and no direction= range market(RM).The Market's direction is the answer at our question: WPD (what the price's doing).

WPG (where the price's going) ? Very simple: to supporrt/resistence level. Why ? Because the supports and resistences are those levels where the traders enter in the market, are taking profits, the traders turns back to find more buyers/sellers or close their positions.The Price is attracted/pushed to these livels.

At this stage of the thread, we will use the first criteria to identify the best support/resistence levels that could give us an early advantage in the market: the bar/candle/swing's CLOSE.

This methodology is for conservative traders in order to take the saftiest and less risky trades for our accounts and healthy.
We are trading ONLY with the buyers/sellers, NEVER against them!

This is a chart about how to draw the support/resistence levels , understanding WPG+WPG.

The buyers pushed the price up from M RM with a dblhc.
The W beob (05.01) was only a seller's reaction to turn the P back to RM, so no sell trades.
On 05.15 (D chart) the P reached at RM where found more buyers with PB (IB).

The trading IS simple, all we need is to learn reading the PRICE and be patients !
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: w.gif Size: 24 KB
Click to Enlarge Name: d.gif Size: 23 KB
Nothing personal,just business
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