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Simple, Powerful and Effective Price Action Trading Strategies

  • #81
  • Sep 5, 2013 5:11pm Sep 5, 2013 5:11pm
http://i.imgur.com/6wuUdw4.png

Looking like a potential change of pace, EUR/AUD has had the neckline of a recently formed "double top" pattern broken, and has formed an inside bar with a bearish rejection candle body.

Price crumbled downwards after a failed attempt of breaking past a swing high, and found itself right onto the neckline of a recently formed double top pattern, which is considered support. Support couldn't hold, and price broke through to form an inside bar.

Before considering dipping into the market, we notice that price is far away from the trend mean. We'd prefer to see price be closer to the trend mean before taking short positions in this case, and we'd rather see a price action signal dropped off after a correctional/retrace move.

It's worth keeping note of what happens in this market.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #82
  • Sep 6, 2013 1:44am Sep 6, 2013 1:44am

Attached Image (click to enlarge)
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We've been keeping an eye on the gold market very closely this week.

In the last few posts we discussed a bullish trading opportunity that developed from the 4 hour time frame, unfortunately we didn't see as much of a bullish response from that setup, but when one door closes another opens.

Last session gold breach a key swing level and close aggressively below the mean value, so now are bias is to the downside.

The last candle actually closed as a 'Power Candle', which is a price action signal we discuss a lot in the war room. It's quite a potent trading opportunity when it plays out correctly, the stops are tight are the reward potential is pretty high.

It's basically a candle with a thick body, aggressive close and has no long wick protruding from the ends of it. The power candle demonstrates strong market momentum and the idea is to catch the continuation of that momentum by jumping in when price breaches the low of the power candle.

These setups carry moderate risk due to the tight stop and with NFP up tonight this one could be a little risky, but keep an eye on it anyway and just observe how this one plays out.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #83
  • Sep 9, 2013 3:40pm Sep 9, 2013 3:40pm
http://i.imgur.com/s4WTdC8.png

Surging with bullish momentum for the past month and a bit, GBP/CAD has tested an already recently tested key support level.

Initially serving as strong support, the key level has only just slightly rejected price last Friday. Monday's action wasn't as convincing either, as the daily candle closed as an inside bar with a bearish rejection candle form in its body. This leads us to anticipate that this support area is weakening.

We'll be keeping an eye out on how price action develops here, as a break of the inside candle low, and a close below the support level could be a strong hint that this market doesn't have much bullish steam any more. On the flip side, a break of the inside candle high could mean that price isn't ready to break down just yet, and that we could be seeing more bullish price action in the near future.

This isn't a setup we'd like to dive into, so it'd be wise to sit back and see how things develop.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #84
  • Sep 11, 2013 6:15pm Sep 11, 2013 6:15pm
http://i.imgur.com/o9cP4IB.png

Here's a great example of how powerful price action trading can be.

Above is a chart of GBP/USD on the daily time frame. This market was trending upwards, creating higher swing highs, and higher swing lows along the way.

Price retraced right onto a key support level, and was rejected hard to form a bullish rejection candle setup. This was a pretty strong hint that the market wanted to continue its upwards momentum.

Following the setup, price exploded right back into the trend momentum and is currently sitting at 1:5 R/R, or just over 500% return.

The market told us to expect this move before it even occurred, this is how powerful of a tool learning to read price action can be. Not too shabby for just a few minutes of analysis.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #85
  • Sep 11, 2013 7:30pm Sep 11, 2013 7:30pm
Quoting DnBPriceAct
{image} Here's a great example of how powerful price action trading can be. Above is a chart of GBP/USD on the daily time frame. This market was trending upwards, creating higher swing highs, and higher swing lows along the way. Price retraced right onto a key support level, and was rejected hard to form a bullish rejection candle setup. This was a pretty strong hint that the market...
Can you buy those hindsight glasses on the paid site?I want a pair,you are an awesome trader.Keep the BS coming.
  • #86
  • Sep 11, 2013 8:20pm Sep 11, 2013 8:20pm
Quoting edge540
{quote} Can you buy those hindsight glasses on the paid site?I want a pair,you are an awesome trader.Keep the BS coming.
I didn't get that all that trade, only a small piece of it.

But I did catch some NZD price action, and with what I learn from these guys, it wasn't too bad either.

Real account by the way, cause I know that is the next thing you will accuse us of.

So, here is the deal, I show mine, you show yours.

Kinda like put up or shut up, OK?

Regards, E,

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It takes a lot for me to IGNORE you, but you can try.
  • #87
  • Sep 11, 2013 8:42pm Sep 11, 2013 8:42pm
Quoting Erebus
{quote} I didn't get that all that trade, only a small piece of it. But I did catch some NZD price action, and with what I learn from these guys, it wasn't too bad either. Real account by the way, cause I know that is the next thing you will accuse us of. So, here is the deal, I show mine, you show yours. Kinda like put up or shut up, OK? Regards, E, {image}
I won't be putting up or shutting up as I'm not selling anything nor am I promoting hindsight trading.I thought these guys were all about trading daily charts and you are showing off on the 1 HR!
  • #88
  • Sep 11, 2013 9:33pm Sep 11, 2013 9:33pm
Quoting edge540
{quote} I won't be putting up or shutting up as I'm not selling anything nor am I promoting hindsight trading.I thought these guys were all about trading daily charts and you are showing off on the 1 HR!
Well, let's be sensible here - the only one making claims that they are promoting hindsight trading is you; wonder why that is?

So, unless you can demonstrate better foresight trading of your own, then you don't really have any credibility do you?

Regards, E.

PS: The 1 hour chart was to provide clarity to be able to see the trade was over several days, and besides, I didn't know price action was limited to daily charts.
It takes a lot for me to IGNORE you, but you can try.
  • #89
  • Sep 11, 2013 9:46pm Sep 11, 2013 9:46pm
Quoting Erebus
{quote} Well, let's be sensible here - the only one making claims that they are promoting hindsight trading is you; wonder why that is? So, unless you can demonstrate better foresight trading of your own, then you don't really have any credibility do you? Regards, E. PS: The 1 hour chart was to provide clarity to be able to see the trade was over several days, and besides, I didn't know price action was limited to daily charts.
It's pretty obvious (look at the charts they post) that all the trades they claim to have made are ALL after the event.I know I'm playing the devils advocate but this commercial section is awash with professional BS artists and they have sucked you in good and proper.Remember this,I'm not selling anything so my credibility is irrelevant.
  • #90
  • Sep 12, 2013 5:29am Sep 12, 2013 5:29am
Oh great the troll is back, locked up inside in bedroom with no friends and has built up so much hate from losing so much money in the markets that he has to come here and start being a hater.

Just so you know that we spoke about that GBPUSD setup before the market took off.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #91
  • Sep 12, 2013 7:33am Sep 12, 2013 7:33am
Hi DnB - great thread - I'm enjoying it - as a long time lurker.

Quick question for you. I noticed that a pinbar printed on my charts for the gbpcad. It's small and not particularly commanding on the charts, but it does seem to be working out?

This would have been a pass for me. But would you have taken this sort of signal?

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  • #92
  • Sep 12, 2013 12:39pm Sep 12, 2013 12:39pm
Quoting DnBPriceAct
Oh great the troll is back, locked up inside in bedroom with no friends and has built up so much hate from losing so much money in the markets that he has to come here and start being a hater. Just so you know that we spoke about that GBPUSD setup before the market took off.
"Troll","hate","no friends,"losing money"......pretty standard, lame, responses from those that aren't open to criticism.Why is it that you commercial guys are so defensive when you are questioned,what are you hiding?
  • #93
  • Sep 12, 2013 2:47pm Sep 12, 2013 2:47pm
Quoting S_Ferrer
Hi DnB - great thread - I'm enjoying it - as a long time lurker. Quick question for you. I noticed that a pinbar printed on my charts for the gbpcad. It's small and not particularly commanding on the charts, but it does seem to be working out? This would have been a pass for me. But would you have taken this sort of signal? {image}
It's not the best signal in the world, but it isn't the worst either. An inside bar, and bullish rejection candle signals were formed after a second test of a strong key support level.

I personally would have taken that setup, however, the last two daily closes would have me reconsidering my position. Wednesday's candle was pushed back to the middle of its range, and Thursday's close was an indecision candle.

This kind of price action tells me that the steam is running out on this one.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #94
  • Sep 15, 2013 12:17pm Sep 15, 2013 12:17pm
Quoting edge540
{quote} "Troll","hate","no friends,"losing money"......pretty standard, lame, responses from those that aren't open to criticism.Why is it that you commercial guys are so defensive when you are questioned,what are you hiding?
get back in your bedroom Edge and lock the door dude,u have a serious problem
  • #95
  • Sep 16, 2013 10:42pm Sep 16, 2013 10:42pm
http://i.imgur.com/4dHFXuQ.png

AUD/USD, trending upwards since the last week or two, has dropped off a hint which could imply a small dip in the market that we can take advantage of.

Price approached a key resistance area and tried to push past, but bearish pressure took over and the candle closed as a bearish rejection signal. However, since we are currently in a bullish market, we wouldn't want to take any counter-trend setups.

This could, however, be the precursor to the retrace/correction that we've been waiting for. We'd like to see price dip and try its hand at a key support level, which you can see on the chart. A bullish signal forming at a key support level here could be a very convincing signal that we could use to ride the trend higher.

Keep an eye out on this one.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #96
  • Sep 26, 2013 9:46pm Sep 26, 2013 9:46pm
Looking at a 2 candle rejection pattern on the EURNZD cross pair market this session.

Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd.png Size: 28 KB


We've witness a recent break in a serious rangebound market to the downside, this week the market has rallied back up and tested the old range support floor and held as new resistance.

A 2 candle rejection sell pattern formed as the market rejected higher moves into this key swing level in the market and we are forecasting lower price off the back of this move.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #97
  • Sep 27, 2013 3:55am Sep 27, 2013 3:55am
Hey Anastasius, Looking for a reaction at this level on EURAUD - wonder if previous support can act as resistance?

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD-D1-270913.png Size: 33 KB


Still smarting about GBPCAD, it's caught a real boost from that small pin.
  • #98
  • Sep 29, 2013 11:47pm Sep 29, 2013 11:47pm
Quote
Hey Anastasius, Looking for a reaction at this level on EURAUD - wonder if previous support can act as resistance?

Hey, it was a good level to act as resistance, it's actually the neckline of that double top that formed. Unfortunately the market busted through on Friday, so that invalidates any ideas for shoring this market.

Looking at a short signal that formed on the gold h4 timeframe this morning at the market. Waiting for a 50% entry on this one.

Attached Image (click to enlarge)
Click to Enlarge Name: gold 4 hour rejection.png Size: 27 KB
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #99
  • Oct 8, 2013 1:19am Oct 8, 2013 1:19am
Looking at an Inside Day signal that formed on the EURUSD last session. Specifically looking for a break of the highs to occur this London/NY session to jump in with continuing trend momentum...

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/center]

Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #100
  • Oct 12, 2013 5:08pm Oct 12, 2013 5:08pm

Attached Image (click to enlarge)
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We've been following gold quite extensively in the War Room, although most markets havn't been moving very much gold has been dropping some nice setups for us. Most traders were able to catch the last two as gold continued to respect the trendline.

We are now looking for a break of either the lower support containment level or the falling trendline to be able to determine some clear direction on where Gold wants to move next. See a more extensive post here.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
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