Simple, Powerful and Effective Price Action Trading Strategies
I placed 3 orders a few pips below the setup bar, 2 of the orders reached their respective targets, and the last order is @ BE, and i am looking forward to trail the order.
Nice one, I hope the range bottom fails and we see a bearish trend develop out of this.
It certainly doesn't look good for the Euro...
One of the key benefits of price action, is that you don't have to follow the news to understand what's going on here. I hoping the market does retrace and give us a retracement entry. It's unpractical to have a 160 pip stop loss on the eurusd.
However the move is exciting and I hope this is the ice breaker for the horrible market conditions we've been experiencing.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
A bearish breakout trap and reverse trade has just triggered on GBPAUD, going short on this one.
It feels like forever since I've taken a trade. I am just being very cautious in these hostile market conditions. Lots of mediocre signals forming that end up being traps where lots of Forex traders lose money.
It feels like forever since I've taken a trade. I am just being very cautious in these hostile market conditions. Lots of mediocre signals forming that end up being traps where lots of Forex traders lose money.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
The AUDUSD printed an Indecision Candle on the daily time frame. The market is looking very buoyant here floating above the the mean value.
Price is hesistating to move past overhanging resistance. If the Indecision candle highs are broken, it could present a good opportunity to go long as the market breaks into new highs.
Price is hesistating to move past overhanging resistance. If the Indecision candle highs are broken, it could present a good opportunity to go long as the market breaks into new highs.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Hey guys, I've just written a new article on Swing trading. If you're interested check it out...
SWING TRADING: AN ANTIDOTE FOR FRUSTRATED TRADERS
SWING TRADING: AN ANTIDOTE FOR FRUSTRATED TRADERS
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Was watching the USDJPY watching for the price action response at the range bottom this week...
The market did try to dive below the range support containment, but could not maintain the lower prices. A bear trap occurred and the market sling shotted back above into the range. At this stage it looks like range is going to remain intact after a bullish rejection candle formed.
Traders who like range trades could try grab a retracement entry here. Personally I don't like trading ranges and was really hoping for a break + bearish trend development.
These market conditions are tough and it's these sort of rough/choppy conditions that cause a lot of Forex trader to lose money. With Summer trading around the corner, this could be the start of a long slow grind.
The market did try to dive below the range support containment, but could not maintain the lower prices. A bear trap occurred and the market sling shotted back above into the range. At this stage it looks like range is going to remain intact after a bullish rejection candle formed.
Traders who like range trades could try grab a retracement entry here. Personally I don't like trading ranges and was really hoping for a break + bearish trend development.
These market conditions are tough and it's these sort of rough/choppy conditions that cause a lot of Forex trader to lose money. With Summer trading around the corner, this could be the start of a long slow grind.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
It was a valid trade setup, we did discuss this in the War Room. The issue with this trade is the range of the candle was small, so we went for the breakout trade like you have. When we use breakout orders, we don't set them until after the London open to avoid Asia session breakout traps.
- #235
- Edited 12:00pm May 22, 2014 2:47am | Edited 12:00pm
Short entry before minutes (London session) on EUR/AUD after this clean level at trend line and red pin bar formed.
DnB, may I ask you, for example if we have bulish pin bar that formed at the end of NY session, and the rule is to set order after London open right? OK, but if the next candle (this after the pin) already move in our direction in the Asian session, and formed a wick at London session, in this case will you set order, or this candle after the pin must break below it for the first time in London session? And if this next candle after the signal formed a opposite Pin or doji will you close the trade, I mean when one signal becomes invalid, what to looking for?
Thanks
I hope you understand me, the english is not my mother language.
DnB, may I ask you, for example if we have bulish pin bar that formed at the end of NY session, and the rule is to set order after London open right? OK, but if the next candle (this after the pin) already move in our direction in the Asian session, and formed a wick at London session, in this case will you set order, or this candle after the pin must break below it for the first time in London session? And if this next candle after the signal formed a opposite Pin or doji will you close the trade, I mean when one signal becomes invalid, what to looking for?
Thanks
I hope you understand me, the english is not my mother language.
Hey DnB,
Thanks for your views snarlyjack. Price action is definitely the way to go. Trading doesn't have to be hard or confusing. i know it can be frustrating at times, especially in the conditions we've been experiencing in the last two months, but at the very core, trading needs to be simple and uncomplicated..
[highlight=#F4F6F9][font=verdana, helvetica, sans-serif][color=#000000]
Hi Dimkata, this obviously is going off how you enter a forex trade via the breakout entry method. Once a breakout trap has occurred during the asian session it can be dangerous trying to get into the trade after a trap has occurring, in the hope the trade will pick up and get going again. That would be a risky play. If the asia breakout trap is large, then it's best to avoid entering against the asian session rejection.
Today there is an example of an asia breakout trap on the GBPUSD. Now we're seeing good bearish follow through, and a bearish breakout trap and reverse trade has triggered now the low's of the prev day have been breached. The setup has not fully taken off left, here is a screen shot just after the trade triggered...
Thank You!!!
To everyone reading this...after years of studying forex & trading with indicators. I have come to
the conclusion that indicators do NOT work for a assortment of reasons.
The only method that I have found that DOES work is price action trading. To make a long story short
you must learn price action trading. DnB is correct in everything he has said!!! If you want to be successful
at forex trading in the shortest amount of time & start making money I would suggest that you join
his trading classes!
In...
Thanks for your views snarlyjack. Price action is definitely the way to go. Trading doesn't have to be hard or confusing. i know it can be frustrating at times, especially in the conditions we've been experiencing in the last two months, but at the very core, trading needs to be simple and uncomplicated..
[highlight=#F4F6F9][font=verdana, helvetica, sans-serif][color=#000000]
DnB, may I ask you, for example if we have bullish pin bar that formed at the end of NY session, and the rule is to set order after London open right? OK, but if the next candle (this after the pin) already move in our direction in the Asian session, and formed a wick at London session, in this case will you set order, or this candle after the pin must break below it for the first time in London session? And if this next candle after the signal formed a opposite Pin or doji will you close the trade, I mean when one signal becomes invalid, what to...
Hi Dimkata, this obviously is going off how you enter a forex trade via the breakout entry method. Once a breakout trap has occurred during the asian session it can be dangerous trying to get into the trade after a trap has occurring, in the hope the trade will pick up and get going again. That would be a risky play. If the asia breakout trap is large, then it's best to avoid entering against the asian session rejection.
Today there is an example of an asia breakout trap on the GBPUSD. Now we're seeing good bearish follow through, and a bearish breakout trap and reverse trade has triggered now the low's of the prev day have been breached. The setup has not fully taken off left, here is a screen shot just after the trade triggered...
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
Hey DnB, {quote} Thanks for your views snarlyjack. Price action is definitely the way to go. Trading doesn't have to be hard or confusing. i know it can be frustrating at times, especially in the conditions we've been experiencing in the last two months, but at the very core, trading needs to be simple and uncomplicated.. {quote} Hi Dimkata, this obviously is going off how you enter a forex trade via the breakout[/highlight]...
Many thanks DnB, I made mistake again this NY close with today inside bar of GBP/USD as you show...
Unfortunately, I can not afford the price action protocol now, but I trying to learn and trade as properly as it can with this method.
So if Im wrong, please correct me DnB, the entry order of all candlestick pattern that we trade must be placed after London open, and if the price already break the signal candlestick in our direction in Asia session, we shoud avoid the signal. So if we have candlestick pattern signal, we must have a breakout of this signal bar at first in London session.
Thank you again for your explanation, Im appreciated it!
