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Simple, Powerful and Effective Price Action Trading Strategies

  • #341
  • Aug 19, 2014 5:05pm Aug 19, 2014 5:05pm
Quote
Hello jer,
The info DnB is posting is very good and I am not affiliated to his site. He also could of showed the nzd/aud set up too as well as the nzd/usd, be good

Thank you Jer

Any price action commentary that I post here I also post on www.theforexguy.com also.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #342
  • Aug 21, 2014 9:58am Aug 21, 2014 9:58am
Hello, everyone,
Does anyone of you earns for price action strategy with plus points swap http://static2.trade2win.com/boards/...n_question.gif
  • #343
  • Aug 23, 2014 5:31pm Aug 23, 2014 5:31pm
Quote
Hello, everyone,
Does anyone of you earns for price action strategy with plus points swap

I am not sure what plus points swap is sorry Pavlitto.


I would just like to draw your attention to the NZDUSD chart this week, a market in a nice bearish trend...


Attached Image (click to enlarge)
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Last week we spoke about a double inside day breakout on the NZDUSD which produced a nice bearish breakout. The setup caused a major weekly support level to break, and allow this market to maintain it’s downward momentum.

What we've been waiting for is a re-test of the level as the market reacts with it from the underside. The plan was to wait and see if the level will hold as resistance via bearish price action. We've got what we were waiting for! A bearish rejection candle formed as counter trend rally terminated and reversed off the swing level.

The bearish rejection candle has a nice negative close to its body and formed near the mean value. We’re waiting for price to break the lows of this rejection candle to consider a short position in the upcoming week’s trading.

You’ve gotta love it when the markets trend like this…
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  • #344
  • Aug 26, 2014 4:39pm Aug 26, 2014 4:39pm
Quote
Last week we spoke about a double inside day breakout on the NZDUSD which produced a nice bearish breakout. The setup caused a major weekly support level to break, and allow this market to maintain it’s downward momentum.

What we've been waiting for is a re-test of the level as the market reacts with it from the underside. The plan was to wait and see if the level will hold as resistance via bearish price action. We've got what we were waiting for! A...

Attached Image (click to enlarge)
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This price action signal played out beautifully, but took off so quickly at the market open... so I missed the train

Looking at a short setup on WTI Crude Oil today

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The crude oil market has been in a nice, steady downtrend. Usually the oil markets are high volatility monsters that are hard to catch a move on, but you can’t ignore trending conditions like this.

We’re seeing a bearish reaction to what we call a ‘bearish hot spot’ on the daily chart here on WTI crude oil. A ‘hot spot’ is basically an area on the chart that produces high probability trade signals. Today’s signal candle is a bearish rejection candle.

The range of the candle is a little small, so we prefer to wait for breaks of the low to confirm bearish momentum. Remember WTI is a US market so its most likely to breakout during the New York session. Be cautious of early breakouts in the Asia session, which could lead to a breakout trap.

Hopefully we will get a nice clean breakdown in price here and see the next extension of this trend develop.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #345
  • Aug 27, 2014 12:02am Aug 27, 2014 12:02am
hi there, what MA do you use?

20?

Thanks.
  • #346
  • Aug 27, 2014 1:26pm Aug 27, 2014 1:26pm
10 & 20 EMA's on the close price
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #347
  • Aug 27, 2014 4:38pm Aug 27, 2014 4:38pm
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The EURUSD has been tanking pretty hard lately, creating a very powerful bearish trading environment. EURUSD has now dropped down heavily and bumped into a weekly support level where we are now starting to see a bullish response from the market.

The weekly chart shows the EURUSD sitting extremely far away from it’s mean value, creating that mean-price gap. This is a powerful over-extention sign and usually will follow with a mean reversion. Because we’ve got the combination of weekly support and the gap in the mean value, we could be looking at the beginnings of a bullish correction.

Do you think EURUSD will move higher from here?
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #348
  • Aug 31, 2014 9:43pm Aug 31, 2014 9:43pm
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Last week we seen the CAD strengthen as it failed to move through overhead resistance. The USDCAD daily chart shows price has now moved into support and responded with some aggressive bullish price action.

The market rejected an attempt to move lower into support and closed as a bullish rejection candle.

The signal candle also managed to close higher than it’s open price, giving the body some nice bullish tone. This market is absent of a dominant trend one the daily and weekly chart, giving the USDCAD a more ‘neutral’ setting.

If this bullish rejection candle trade plays out, and prices continues to move higher, we could see a retest of the overhead resistance.
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  • #349
  • Sep 2, 2014 7:34pm Sep 2, 2014 7:34pm
Quote
Last week we seen the CAD strengthen as it failed to move through overhead resistance. The USDCAD daily chart shows price has now moved into support and responded with some aggressive bullish price action.

The market rejected an attempt to move lower into support and closed as a bullish rejection candle.

The signal candle also managed to close higher than it’s open price, giving the body some nice bullish...

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Following up on the USDCAD signal...

It did produce some nice bullish follow through here but didn't trigger my retracement entry price. The trade has taken off now, and the order is closed. As anticipated this market is heading up to re-test the overhead resistance. Watching for the price action reaction to the this level before considering any action.

The GBPJPY produced a very dominant looking bearish pin bar on the daily chart last session...

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We’ve been witnessing the GBPUSD getting an absolute slaughtering from the bears lately. It makes you wonder if George Soros is up to his old tricks here. Evidently the Pound weakness is felt across all the GBP pairs. The GBPJPY is really feeling pressure from the sellers as the market heavily rejects a retest of a weekly resistance level.

Last session closed as a long tailed bearish rejection candle, with a slight bearish close in the body (close price lower than the open price). This clearly signals rejection of higher prices and the market denying a move through that weekly resistance.

This is more of a neutral market at the moment with no trend to work with. Looking for a retracement entry here to tighten up the stop loss. The nearest high/low retracement strategy, from our Price Action Trading Course would be the best entry point here.

Because the tail of the candle sticks out into open price in this fashion, the previous candle high is the only other nearby point of reference here.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #350
  • Sep 4, 2014 7:14pm Sep 4, 2014 7:14pm
Just dropping in quickly to share a bearish price action opportunity on the Silver market...

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We’ve been talking about silver a lot in the War Room this weekly as it has been dropping a lot of bearish signals along side a nice, steady and stable downtrend. Recently War Room Traders cause a bearish move from a bearish Rejection Candle & Inside Day combo setup which has pushed price down into new lows for the trend.

Last session, Silver rejected a move into the old swing low support and respected it as new resistance. This is what we call a swing level, and they are highly targeted areas to enter trend trades.

We’ve got a nice bearish rejection candle that has a nice heavy bearish body on it as the market closed lower than the open price for the trading day. The signal aligns with the over all downtrend and formed at a bearish ‘hot spot’.

Watch out for a major weekly support level below, which would be ideal for potential trade targets here. Also note that NFP does come out this session so also keep that in mind. As usual – NFP will probably ‘make or break’ today’s trade setups, but just remember we don’t trade Forex news releases directly.
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  • #351
  • Sep 7, 2014 5:55pm Sep 7, 2014 5:55pm
Quoting DnBPriceAct
Just dropping in quickly to share a bearish price action opportunity on the Silver market... {image} We’ve been talking about silver a lot in the War Room this weekly as it has been dropping a lot of bearish signals along side a nice, steady and stable downtrend. Recently War Room Traders cause a bearish move from a bearish Rejection Candle & Inside Day combo setup which has pushed price down into new lows for the trend. Last session, Silver rejected a move into the old swing low support and respected it as new resistance. This is what we call a...
Just cleaned up on the GBPJPY trade thanks to this morning's market open gap...


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I opened the charts at the market open, and to my surprise I find the GBPJPY trade and nearly doubled in profit. The GBP has dramatically weakened over the weekend and caused negative gaps on most GBP pairs. The gap on the GBPJPY is one for the record book, and thankfully we’re on the right side of this move thanks to our earlier price action bearish rejection signal.

I took profit the second I seen where price was. As you know, the plan was to target the range bottom. It’s a bonus that the market gaped below the range support, giving more return on investment.

Myself and other War Room Traders are very pleased with the outcome of this trade. It’s a very nice start to the week and really highlights the benefits of price action trading. This market will probably correct back to it’s mean value and ‘fill the gap’. I might consider a bullish mean reversion trade here, but only if the market drops a strong bullish price action signal here to work off.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #352
  • Sep 9, 2014 12:39am Sep 9, 2014 12:39am
Today I would like to share a trade setup that was featured in the War Room ‘Chart of the Day section. I wanted to share this with the blog readers to demonstrate how you don’t need to follow the news calendar religiously, or let it effect your trading decisions to heavily. Some traders won’t trade if there is upcoming news, which in the off case can be warranted. I don’t even look at the economic calendar personally, I just let the price action be my guide and follow what’s going on via the charts.

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In this scenario, a nice thick bearish rejection candle formed at an established range resistance. This was nothing more than a classic ‘range play’, shoring a price action signal from the range top, to the bottom boundary. When I posted this setup I didn’t even know the ECB was announcing anything.

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The price action trade triggered via the retracement entry most of us were looking to get in the trade with – Great. Then later on in the session, the ECB announced a drop in their interest rates. This news drove our EURJPY into very fast profits, netting around 1:4 risk reward.

I don’t know whether to call it a phenomenon, or just the way the market works, but time and time again I notice it is the case that when good looking price action signals form ahead of news like this, the news generally supports the setup and drives it into profit. Obviously this won’t always happen, but it happens a lot for me.

Are you tied up in front of the news calendar all day trying to trade the Forex news releases, and on the verge of calling your therapist. Hold the phone for the moment, check out our War Room Trader Membership package and consider learning how to trade with price action instead. I can guarantee you will find it a much less stressful way to approach your trading.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #353
  • Sep 10, 2014 6:28pm Sep 10, 2014 6:28pm
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We've been keeping track and talking about the S&P a lot in the War Room this month. When this market broke into new highs, we've been waiting to 'buy on dips' via bullish price action signals. A bullish rejection candle did form, but I did mention in the War Room commentary that this signal didn't hold much value to go long on because it wasn't reacting with any significant turning point for the S&P.

The signal did end up failing as the market retraced back into a level we were anticipating to act as support. Well this level needed to hold as support to keep this uptrend momentum intact. We've got a nice bullish body rejection candle that formed as the market respected the old 'all time highs' as new support, creating a high probability long opportunity for price action traders.

Waiting to take advantage of retracement entries here, but will also take breakouts if retracement entries don't get triggered. Looking forward to seeing how this price action setup plays out.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #354
  • Sep 16, 2014 7:35pm Sep 16, 2014 7:35pm
Quote
We've been keeping track and talking about the S&P a lot in the War Room this month. When this market broke into new highs, we've been waiting to 'buy on dips' via bullish price action signals. A bullish rejection candle did form, but I did mention in the War Room commentary that this signal didn't hold much value to go long on because it wasn't reacting with any significant turning point for the S&P.

The signal did end up failing as the market retraced back into a level we were anticipating...

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Just reviewing the S&P setup from the previous post.

The setup didnt work out, protective stops were triggered before the market closed last week. This is a great example of why you should always use stops with your trades. The market actually gapped down, which would have put you in an even worse position when the market opened this week.

What really is frustrating is the downside break appears to be a bear trap as the market is showing strong bullish price action now. So the trade idea may still work out, but unfortunately knocked us out before taking off... it happens. Welcome to trading.

One chart I am watching is the AUDUSD waiting for any sell signals that form on top of counter trend rallies...

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The Australian Dollar has taken an absolute beating last week, experiencing a 320 pip price breakdown. The aggressive selling of the AUD has pushed the AUDUSD major chart into ‘extreme’ prices from it’s mean value. Generally you can expect the charts to snap back from these extreme prices, the market doesn't move in straight lines as we know.

We’re starting to see evidence of what we call a ‘mean reversion’, where the market corrects from aggressive price moves. The plan of attack here is to wait for price to test the next bearish ‘hot spot’, which is the old weekly support level. Here price action traders can wait for bearish price action signals to develop as an early sign of the downtrend continuation.

Conversely, if the market breaks back above that weekly support, we could start looking for long signals. But before we get ahead of ourselves, lets see how price reacts to the bearish hot spot.


New article released on the Forex Guy blog: Learn Forex Trading
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  • #355
  • Sep 17, 2014 1:45am Sep 17, 2014 1:45am
Thank you for a very solid price action protocol PDF on your site. Well worth the money. Was hesitate at first to join but the protocol PDF is worth it's weight in gold. I like the chat room as well. Thx a ton. Really good stuff. Price action has changed my way of trading. No more indicators. What a safe way to trade! Thanks again.
Be Patient....
  • #356
  • Sep 17, 2014 12:30pm Sep 17, 2014 12:30pm
Quoting HB Pips
Thank you for a very solid price action protocol PDF on your site. Well worth the money. Was hesitate at first to join but the protocol PDF is worth it's weight in gold. I like the chat room as well. Thx a ton. Really good stuff. Price action has changed my way of trading. No more indicators. What a safe way to trade! Thanks again.
Thank you very much HB for your kind words!
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
  • #357
  • Sep 20, 2014 3:34am Sep 20, 2014 3:34am
There are a ton of pin bar setups on the daily after today's close. Some are far from mean but in place to trace back to the mean based on
severe pin bar candles.
Be Patient....
  • #358
  • Sep 20, 2014 6:50pm Sep 20, 2014 6:50pm
Quote
There are a ton of pin bar setups on the daily after today's close. Some are far from mean but in place to trace back to the mean based on
severe pin bar candles.

Absolutely, a lot of bearish price action on the GBP pairs. Looks like the GBP will be continuing to weaken during the next few trading weeks...

Attached Image (click to enlarge)
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The news about the Scottish independence has been ‘the’ hot topic amongst Forex traders this week causing heavily volatility on the GBP markets. As most of you know, I don’t follow the news or fundamentals too heavily. One of the benefits of price action trading is letting the charts communicate how the market ‘feels’ about these kind of events. I am not sure what the outcome was yet for the vote of independence, but we can see the market reacted very negatively towards the results and produced a variety of strong price action sell signals across the GBP pairs.

The price action setup that catches my attention this week is the one on the GBPAUD cross pair (the one on GBPNZD is also a beauty). I like the GBPAUD setup mostly because of the well defined weekly resistance level the market has clearly rejected. At the close of last weeks trading, the daily candled formed a long wick bearish rejection candle. The fact that the rejection is so large, clearly communicating higher prices are a ‘no go’ for this market, and the fact there is a major weekly turning point right here, I believe we’ve got ourselves a nice high probability sell signal here to look forward to for this week’s trading.

The action plan for this bad boy is to try take advantage of any bullish retracements up the reversal signal’s range. If we don’t get the retracement price, we can deploy more aggressive breakout type orders using ‘sell-sops’. The ideal entry is the 50% retracement or previous high retracement, with a stop loss placed well above the high.
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  • #359
  • Sep 22, 2014 7:26pm Sep 22, 2014 7:26pm
Attached Image (click to enlarge)
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The USDJPY has rallied aggressively higher after breaking out of the long term consolidation pattern we witnessed for the first half of the year. It’s no surprise the breakout out of such a long term churning pattern has been so explosive. The bullish momentum has now pushed price to an extended point relative to its mean value and starting to look a little ‘top heavy’.

We know the market won’t move in one direction forever and know that a correction is due for this market. An Inside day formed last session as price stalled and churned at these extended prices. The Inside day closed fairly lower from the open price. A negative close to it’s body gives the setup more of a bearish feel. If price breaks below the low, we could see a counter trend mean reversion kick off.

Traders looking to get in with the bullish trend momentum should wait for a bullish setup to form closer to the mean value to avoid being wiped out in any correctional movements.
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  • #360
  • Sep 28, 2014 7:01pm Sep 28, 2014 7:01pm
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd breaks weekly level.jpg Size: 106 KB



This setup played out nicely - we got the bearish confirmation when our sell stop orders were triggered as price broke the low of the Rejection Candle. The market slammed into the weekly support where we did see some initial hesitation (lower wick on the candle testing the level), but price broke through without too much trouble during Friday's trading session.

Now the level has been taken out, it has driving the bearish price action setup into nice profit, and paved the way for the next bearish trading opportunity to occur. We will be looking for bearish signals to form off the underside of the weekly level as it holds as resistance.
Obsessed with Price Action Trading, Swing Trading & Breakout Strategies
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