Naked Price Action Trading : SnR with Fibonacci (Noob Friendly)
- #65
- Edited 2:48pm Jan 9, 2015 2:37pm | Edited 2:48pm
- | Commercial User | Joined Sep 2013 | 196 Posts
First Lesson - Support and Resistance by JGV100
A1. Support and Resistance
SUPPORT : Happens when price move from top to bottom but fail to penetrate one line/zone and bounce up. "Any part at which the market stopped going down and turned up".
RESISTANCE : Happens when price move from bottom to top but fail to penetrate one line/zone and bounce down. "Any part at which the market stopped going up and turned down".
A2. Breakout and Role Reversal Phenomenon
BREAKOUT : Price managed to penetrate Support or Resistance which is a point/line/zone where exchange function of Support and Resistance happens.
ROLE REVERSAL : Support and Resistance already exchange function at line/zone of SBR, RBS
SBR : Support Become Resistance
RBS : Resistance Become Support
The Big Picture
A1. Support and Resistance
SUPPORT : Happens when price move from top to bottom but fail to penetrate one line/zone and bounce up. "Any part at which the market stopped going down and turned up".
RESISTANCE : Happens when price move from bottom to top but fail to penetrate one line/zone and bounce down. "Any part at which the market stopped going up and turned down".
A2. Breakout and Role Reversal Phenomenon
BREAKOUT : Price managed to penetrate Support or Resistance which is a point/line/zone where exchange function of Support and Resistance happens.
ROLE REVERSAL : Support and Resistance already exchange function at line/zone of SBR, RBS
SBR : Support Become Resistance
RBS : Resistance Become Support
The Big Picture
First Lesson - Support and Resistance by JGV100 {image} A1. Support and Resistance SUPPORT : Happens when price move from top to bottom but fail to penetrate one line/zone and bounce up. "Any part at which the market stopped going down and turned up". RESISTANCE : Happens when price move from bottom to top but fail to penetrate one line/zone and bounce down. "Any part at which the market stopped going up and turned down". {image}
Second Lesson - Trend by JGV100
Uptrend Price Action Example
A. Trend
PRICE ACTION (PA) : The way to identify current trend = THE BEST LEADING INDICATOR
A1. UPTREND : A series of rising peaks and throughs (L, H, HL , HH)
L = Low
H = High
HL = Higher Low
HH = Higher High
PA UPTREND : L - H - HL - HH - HL - HH & SO ON
ACTION : UPTREND = BUY ONLY
A2. DOWNTREND : A series of descending peaks and throughs (H, L, LH , LL)
H = High
L = Low
LH = Lower High
LL = Lower Low
PA UPTREND : H - L - LH - LL - LH - LL & SO ON
ACTION : DOWNTREND = SELL ONLY
Downtrend Price Action Example
B. Basic of Trading CSR100
3 IMPORTANT THINGS THAT YOU NEED TO REMEMBER AND FOLLOW WHEN TRADING!
1. TRADE WITH THE TREND : Trend is your friend. Treat trend as your "lover". Do not ever trade against the trend. Its easier to profit when you "Trade with the Trend" compared to "Trade against the Trend".
UPTREND : BUY ONLY
DOWNTREND : SELL ONLY
2. BUY AT SUPPORT : Buyers enter the market at Support and take control from the sellers. It means, enter "BUY" only at "SUPPORT". It is wrong if you buy at Resistance.
CSR100 technique : Buy at RBS (Resistance Become Support)
3. SELL AT RESISTANCE : Sellers enter the market at Resistance and take control from the buyers. It means, enter "SELL" only at "RESISTANCE". It is wrong if you buy at Resistance.
CSR100 technique : Sell at SBR (Support Become Resistance)
Uptrend Price Action Example
A. Trend
PRICE ACTION (PA) : The way to identify current trend = THE BEST LEADING INDICATOR
A1. UPTREND : A series of rising peaks and throughs (L, H, HL , HH)
L = Low
H = High
HL = Higher Low
HH = Higher High
PA UPTREND : L - H - HL - HH - HL - HH & SO ON
ACTION : UPTREND = BUY ONLY
A2. DOWNTREND : A series of descending peaks and throughs (H, L, LH , LL)
H = High
L = Low
LH = Lower High
LL = Lower Low
PA UPTREND : H - L - LH - LL - LH - LL & SO ON
ACTION : DOWNTREND = SELL ONLY
Downtrend Price Action Example
B. Basic of Trading CSR100
3 IMPORTANT THINGS THAT YOU NEED TO REMEMBER AND FOLLOW WHEN TRADING!
1. TRADE WITH THE TREND : Trend is your friend. Treat trend as your "lover". Do not ever trade against the trend. Its easier to profit when you "Trade with the Trend" compared to "Trade against the Trend".
UPTREND : BUY ONLY
DOWNTREND : SELL ONLY
2. BUY AT SUPPORT : Buyers enter the market at Support and take control from the sellers. It means, enter "BUY" only at "SUPPORT". It is wrong if you buy at Resistance.
CSR100 technique : Buy at RBS (Resistance Become Support)
3. SELL AT RESISTANCE : Sellers enter the market at Resistance and take control from the buyers. It means, enter "SELL" only at "RESISTANCE". It is wrong if you buy at Resistance.
CSR100 technique : Sell at SBR (Support Become Resistance)