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Price action trading with pivots: Live example with chart 24 replies

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Attachments: Price Action with the Weekly Chart for Massive Profits
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Price Action with the Weekly Chart for Massive Profits

Quoting spankworthy
Nice going Piprac, is that trading chamane's method?
I'm trading Tinny's strat. as in post #1.What struck me was the logic for an illogical market. After 5-9 candles in one direction, a closed EB in the opposite direction means a change in trend. Pretty simple.
Quoting piprac
I am approx. 765 plus pips for all of the trades in post #38 and nothing in neg. territory. I will be adjusting SLs for protection. Great way to trade. p.
Thur., 5/28,7:23 am. All trades in profit, 909.0 (rounded) plus pips. Beginner's luck, maybe, but a pretty simple visual method for spotting trend reversals.
Quoting piprac
{quote} Thur., 5/28,7:23 am. All trades in profit, 909.0 (rounded) plus pips. Beginner's luck, maybe, but a pretty simple visual method for spotting trend reversals.
aud/usd hit TP, +164 pips; usd/cad hit TP-1, +195 pips and SL now at BE+5. Total for 2 trades is +359 p. with 5 still open. I can't say enough about how good this strategy is. p.
Thanks piprac, I will have a look at daily candles to see if it will work on them as I don't have the patience to wait for weekly engulfings. Many green pips to you.
Quoting spankworthy
Thanks piprac, I will have a look at daily candles to see if it will work on them as I don't have the patience to wait for weekly engulfings. Many green pips to you.
Just remember the 5-9 candle rule. I don't know how that applies to a D. setup but very necessary for W. Good luck to you. p.
Sun., late afternoon - I'm not seeing any candidates for the 11 pairs that I follow. Probably a quiet week ahead for me. p.
Quoting spankworthy
Nice going Piprac, is that trading chamane's method?
I can't get chamane's video to play, any suggestions anyone?
Hi Piprac, try watching it here:

Inserted Video
Thank you, S.
Hey Tinny,

Thank you for the time for the write up. I am new to FOREX but have been trading the US stock market for a few years now. I've watched the vidoes, and cross reference this strategy from a few other google searches I found similar and simply excited to give it a try. I did open a practice account with my current broker and so for the next few weeks i'll apply what I have learned through this account.

Anyhow, I have a question. Its my understanding there are some people that trade forex via robots, or as they would call it, Algo Forex. I am no expert, nor have I really read much up on it, but I was thinking if anyone or if its even possible to apply this strategy into the same concept of Algo Forex. In other words, while im catching my ZZz's or away on vacation, the "robo forex" will monitor for these candle sticks and execute on each signal..

Thanks again, and happy trading ya'll.
Question, would the attached screen shot *orange arrow* be a good signal for a trade, or because it doesn't fall under the 5-9 previous candle rule? I accounted for 4 previous candles bullish trend and when that bearish engulf candle appeared, I assume this would be a signal? This is from a recent EUR/USD weekly chart. Thanks
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C.36 -

A poor trade, it doesn't follow the rules. Even as a 3-inside-down trade it doesn't work because the 3 down candles are getting smaller. I tested two 4 candle setups with better candles than what you have posted and neither was worth the effort. There won't be many trades with this strategy but if one follows the rules, the trades taken should be good ones. Hope this helps, p.
This strategy just doesn't offer many trades, but when the rules are followed they can be good ones. I have taken the below trade on the Daily as it seems to follow the rules except for the TF. It is against the 100 & 200 EMAs, but a trend change will always be against the lagging indicators. I won't stay in this very long as I can't monitor the trade next Mon. or Tue.
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Guys this is great forum and after watching some videos here I have got a confident in trading but seriously I need your advice on the below chart as signal is about to come
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always wait for the end of the week before jumping into a trade.
where's Timmy?
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Don't believe everything that you THINK
BuyDips,SellRips Return This Week: na
Quoting piprac
This strategy just doesn't offer many trades, but when the rules are followed they can be good ones. I have taken the below trade on the Daily as it seems to follow the rules except for the TF. It is against the 100 & 200 EMAs, but a trend change will always be against the lagging indicators. I won't stay in this very long as I can't monitor the trade next Mon. or Tue. {image}
Hello piprac, may I ask how's it going with the strategy? Thanks!
Quoting Erebus
where's Timmy? {image}
Hello, did he finally answer or at least publish your post? Thanks, bye.
Quoting giga1971
{quote} Hello, did he finally answer or at least publish your post? Thanks, bye.
LOL, are you kidding? he's got no trades, he only sells course to make $$$$$$$$$$$
Don't believe everything that you THINK
BuyDips,SellRips Return This Week: na
Catching any reversal pattern at the apex is nearly impossible on any time frame.

Any one who is actually placing those trades is out of their mind.
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