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Price action momentum trading

  • #221
  • Nov 12, 2011 1:32am Nov 12, 2011 1:32am
I guess the main concept of this trading style is pure price action without indicators... anyways it would be more interesting to see this RSI in real-time, not after.

BTW for some reason I'm also having hard time to spot entries (looking GU, EU). I even don't remember now when I last saw, took and made positive pips from this kind of trade.
  • #222
  • Nov 12, 2011 3:07am Nov 12, 2011 3:07am
Quoting cmeade2
I have enjoyed reading this thread and I always value all of survivor's contributions. But I have found it difficult to implement because it's not clear to me when you should buy/sell after a momentum bar. Sometimes the trend continues and sometimes it reverses. But then I noticed something on my chart setup.

Typically on the price chart I have the various Choros moving averages. In a window below I have a superimposed chart of RSI ranging from RSI(2) to RSI(16). Basically what I have observed is that when the RSI's are tightly clustered around...
Very interesting observation... Thanks!
  • #223
  • Nov 12, 2011 8:52am Nov 12, 2011 8:52am
I thinks this thread tell us pay more attention to candles language,which is much useful than any other indicators,because of indicators coming from candles and seperate our concentration.

Just LOOK AT THE CHART& WORK!!!
  • #224
  • Dec 1, 2011 3:51am Dec 1, 2011 3:51am
Quoting cmeade2
I have enjoyed reading this thread and I always value all of survivor's contributions. But I have found it difficult to implement because it's not clear to me when you should buy/sell after a momentum bar. Sometimes the trend continues and sometimes it reverses. But then I noticed something on my chart setup.

Typically on the price chart I have the various Choros moving averages. In a window below I have a superimposed chart of RSI ranging from RSI(2) to RSI(16). Basically what I have observed is that when the RSI's are tightly clustered around...
nice observation there...
what about the probability of movement when RSI cluster arround
  • #225
  • Dec 16, 2011 2:41am Dec 16, 2011 2:41am
Quoting cmeade2
I have enjoyed reading this thread and I always value all of survivor's contributions. But I have found it difficult to implement because it's not clear to me when you should buy/sell after a momentum bar. Sometimes the trend continues and sometimes it reverses. But then I noticed something on my chart setup.

Typically on the price chart I have the various Choros moving averages. In a window below I have a superimposed chart of RSI ranging from RSI(2) to RSI(16). Basically what I have observed is that when the RSI's are tightly clustered around...
I have already noted in this thread that momentum bars work best in these two situations-
1. reversal after sharp moves
2. after considerable period of consolidation
I think your rsi is showing this. I have nothing against indicators but i think price charts tell all there is to know. if i get time, i will post how one can spot divergence without using RSI. yes thats true. even rsi divergence is obvious in plain price chart if you pay attention. and price doesnt whipsaw and bullshit you.

I will also post some advanced entries and how to detect if a formation will work or fail.
Making money is easy- Just dont take losing trades
  • #226
  • Dec 16, 2011 2:44am Dec 16, 2011 2:44am
Quoting messiahua
I guess the main concept of this trading style is pure price action without indicators... anyways it would be more interesting to see this RSI in real-time, not after.

BTW for some reason I'm also having hard time to spot entries (looking GU, EU). I even don't remember now when I last saw, took and made positive pips from this kind of trade.

Hey remeber its december and market tends to be rangy. Concentrate on reversal bars. Try to avoid continuation bar for this month. And always remeber- dont buy on high/sell at low of a trend. refer to this - http://www.forexfactory.com/showthre...38#post4988038

I find it surprising that you are not spotting trades. I will post some hope that will help
Making money is easy- Just dont take losing trades
  • #227
  • Dec 16, 2011 3:10am Dec 16, 2011 3:10am
In a trend always look at how far the price goes after breaking previous top. if this distance is increasing than momentum is good. if this distance is decreasing then momentum is decreasing - divergence. Problem with divergence is that sometimes it will last for hours. if you sell at every divergence you will be broke before price moves in your direction. If you watch PA you will ride the wave till very end and at the precise moment you will flip position to catch the reversal. Thats why i dont recommend using any indicator.

Recent 5M EU with RSI. I went short at second top not after the rejection bar. That is art of deciding when its going to be a double top and selling at second top high while most traders wait for much lower levels to sell. Thats power of PA trading!
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 106 KB
Making money is easy- Just dont take losing trades
  • #228
  • Dec 16, 2011 4:06am Dec 16, 2011 4:06am
you would be entered long ??
Attached Image
  • #229
  • Dec 16, 2011 5:18am Dec 16, 2011 5:18am
what pair what time

Quoting wallstreet03
you would be entered long ??
  • #230
  • Dec 17, 2011 3:49am Dec 17, 2011 3:49am
Quoting cmeade2
what pair what time
eur usd m5
  • #231
  • Dec 18, 2011 8:58pm Dec 18, 2011 8:58pm
hii there
i would enter short based supply and demand analysis
  • #232
  • Dec 21, 2011 10:00am Dec 21, 2011 10:00am
Quoting Ozzie
http://www.forexfactory.com/attachme...1&d=1313281766
This is so simple and yet so amazing!!

Can you elaborate more on this technique....
1)which TF works best?
2)does it work better in ranging or volatile markets?
3)which pairs work best?

btw, is there any EA that can draw this S/R lines automatically...to make it all easier?

thx alot and thx to the topic opener.
this is amazing topic!!
  • #233
  • Dec 22, 2011 1:39am Dec 22, 2011 1:39am
Thank you Survivor for sharing your knowledge! I already blowed 2 accounts for the past several years, and I plan to start trading live again soon. Your ideas are great and I plan to put them in use after NY.
Please keep sharing with us, your work is amazing! Thank you!
Twitter @raitchev
  • #234
  • Dec 22, 2011 1:51am Dec 22, 2011 1:51am
Im sorry i just had that lightbulb moment lol Just had to share.
Twitter @raitchev
  • #235
  • Dec 22, 2011 4:27am Dec 22, 2011 4:27am
http://www.forexfactory.com/attachme...1&d=1312475165

Does anyone know of EA that automatically draws this S/R lines...like in example above?
  • #236
  • Edited 3:28pm Dec 22, 2011 9:55am | Edited 3:28pm
Quoting N11
This is so simple and yet so amazing!!

Can you elaborate more on this technique....
1)which TF works best?
2)does it work better in ranging or volatile markets?
3)which pairs work best?

btw, is there any EA that can draw this S/R lines automatically...to make it all easier?

thx alot and thx to the topic opener.
this is amazing topic!!
Is there someone that checked this simple strategy from OZZIE or have traded this way for a certain period?
thanks in advance for an answer or a PM.
zackery
  • #237
  • Dec 25, 2011 7:30am Dec 25, 2011 7:30am
Hi S,

Have been reading this thread since the start and its very similar to what im doing but on a higher time frame, i have kept quiet up until now but the way you have explained the setups and the simplicity of PA is a prime example of PA being King.

Keep up the great work and hope to see more charts and explanations posted from you. I myself will also post some charts and examples as and when i get time. I wondered what the longest you have held a trade before in terms of time?
  • #238
  • Dec 26, 2011 2:23pm Dec 26, 2011 2:23pm
Hi Survivor,
Im new guy on the forum, but not new to PA. You war analogy is something that I always had in the back of my mind, but couldn't articuate it properly.
When I read your article "price action momentum trading' it finally clicked... and you put it so well in words and I think it's important that you continue using this analogy in your trade examples once in a while...using words like attacking, taking new posts, resting, recapturing...although it is simple I think it clicks with many people....

I'd like to thank you for your continuous effort in keeping up this thread...we do realize that everything you post is backed by years of experience and although it's simple it's not easy to come up with.

So far Im more of a 1hr, 4hr, daily trader..and I will try your strategy on those TF and will post my results.

I do have a question regarding your very first example and here it is, it was already answered once by one of the members, but I didn't get his/her explanation so I'm permitting myself to ask again.

http://clip2net.com/clip/m95923/1324...-clip-85kb.jpg

thanx again, best, g
  • #239
  • Dec 28, 2011 7:14am Dec 28, 2011 7:14am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
Here is a nother good ex: of momentum trading
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-28_101316 momentum.jpg Size: 103 KB
  • #240
  • Dec 29, 2011 1:06am Dec 29, 2011 1:06am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
My GBP trade to day
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