Simple, Powerful and Effective Price Action Trading Strategies

I am just learning, how can i calculate to know the distance in pips from 20 ema to price or is there any indicator for that?

Hi nmesoma. It is quite simple. Just move your cursor or pointer to the end of 20 EMA, then read the value of it. Afterwards check the actual price and subtract the lower value from the higher one. -

Let me encourage you to stay here and learn from DnBPriceAct. He is one of the best teachers I've ever met in 4 years. Go ahead and start from the beginning. His thread is a goldmine of practical knowledge regarding Price Action trading.
God bless.

thanks a lot but can i get an indicator that?

Hi there. DnBPriceAct doesn't use any indicator other than 10 and 20 EMA. I personally use the 20 EMA only. After a while you'll understand that there is no need to use any indicators to be successful in Forex. What we all need to learn is how to read and interpret the price action properly. As I said before you are at the right place to start your Price Action studies. It is not that hard to understand Price Action. It is much harder to apply the accumulated knowledge in a real trading situation. Practice makes perfect. Everyone can succeed in this matter. Perseverance and hard work is the key to success. But I can assure you that your hard work will pay off in the end. It is such a good feeling when you can beat the market repeatedly. As you go ahead and familiarize yourself with all the ins and outs of Price Action Trading, you will become more and more successful. I advise you to find a reliable broker, and open a demo or practise account with them. Your journey to success starts here.

http://www.forexfactory.com/showthread.php?t=545718

Friends What you say about this inside bar ? can we place sell stop here or not? Kindly give your thinking.
Thank You!

Trend is down, there is room to the weekly average range for 2:1 trade, let's keep an eye on it, I'll zoom in a bit as your chart hard to see

Thanks a lot for your advise, i mean the indicator that can show me the distance in pips from 20ema to price, the link from srt is 1 hr maximum time it does show 4hr and daily

Good tip

Hi guys, sorry I haven't been around - I just had to finish the my candlestick algorithm project for MT4.

It has picked up a double inside candle pattern on the USDCAD this morning which has some potential...



Looking at the USDCAD which has got my attention here as it hits a potential turning point here. Last time the market failed at this level we seen a 500 pip drop on the daily chart.

The market tested this level last session, but higher prices were rejected again for a second time at this level. If we get a repeated response there could be a decent move off this level.

My Price Action Battle Station algorithm send me a notification on my iPhone about a double inside candle setup on the 4 hour chart which I seen when I got up this morning. So I checked out the setup, and there is potential for a breakout here.

I dont normally worry about inside candles on the 4 hour but double inside candles (marked in orange) seem to have a much better success rate. The main factor here is the major resistance level acting as a potential turning point. There isnt anything to work with on the daily chart but a downside breakout could be triggered as price moves below the double inside candle setup on the H4 chart.

Because this pair generally moves the most in the New York session, it would probably be best to avoid taking any breakout style trades until the US session does open to avoid getting caught in early breakout traps.

- Check out More Swing Trading Price Action Strategies

The new version of the price action battle station algorithm has picked up a bullish Outside candle / Rejection Candle on the 4 hour AUDJPY chart.

When the battle station sends you a notification message – it must pass all the quality control filters you’ve enabled, getting your attention on patterns that are worth looking at. It’s turning out to be a very handy tool to have.

The bullish rejection candle formed right on a swing level, and the daily chart is currently trending upwards – so all compass needles are pointing towards higher prices.

Anyone going long on this setup should watch the resistance above – which looks like a solid level that will most likely contain any rallies this week. There is still enough room to make some good risk/reward.

- Check out More Swing Trading Price Action Strategies

i am new in forex please help, in price action system, if i set pending order and the trade did not triger within 24 hrs will i remove it

nmesoma
After 24 hrs and your pending order has not been triggered, you will have 1 more candle on your daily chart and 6 more candles on a 4 hr chart.
With that new information would you still be willing to take the trade now? or has your assessment changed - make you decision accordingly.

dodger
thanks for your help but i have not understand what you meant, do you mean 48 hours? before assessing whether to change or not.

Hi nmesoma
You asked if you should remove your pending order if the trade did not trigger within 24 hours.
I assumed that you were following the forex guy's policy of not trading timeframes below 4 hours. Provided you had set a stop loss at a reasonable distance to allow for the usual 'noise' of price movement, during the day, I would wait 24 hours to see if the order was triggered. The next day I would look to see if I still would take the trade at the present price - if it no longer looks a good trade, I would cancel the pending order.
After the 24 hour period you will have another bar/candle on your daily chart and if you switch to a 4 hour chart you will have another 6 bars/candles on that chart which will help you visually to decide whether your pending trade is still what you want.
Hope this helps.

Thank you dodger for helping out

If your pending order has not been triggered, should you remove it?

Well my question would be to you, is the trade invalidated, or has it taken off without you?

Just think in a logical way, not robotic. If the trade took off already without triggering you in, then you're not going to sit there, and wait for it to come all the way back to your entry point and then hope it re fires the move - you won't get every single pending order to trigger.

Check out this gbpusd h4 trade that the Battle Station also flagged...



A nice bearish rejection candle has formed on the GBPUSD 4 hour time frame.

This setup is aligned with the dominant weakness of this market, which is very visible on the daily chart. We've be watching for sell signals to form after pullbacks to provide bearish trade opportunities to 'sell high' within the down trend.

We can see the bearish rejection did form after the market retraced, and created a new swing high. The thick bearish body looks nice, especially when viewed against that recent intra-day bull run we had.

The Battle Station indicator picked up the signal nicely, sending out alerts to war room members' apple or android devices.

Looking forward to seeing how this one turns out.


- Check out More Swing Trading Price Action Strategies

dodger.
I am very grateful for your explanation, i am new in Forex and i am only trading on daily chart only at the moment, after mastering the daily chart i will then go down to 4hr, but based on your explanation as i am only trading on daily chart. i can still wait up to 48hrs then i can decide whether to remove it or not.
thanks a lot

A very nice result from this trade, it's fantastic when high quality signals play out like this and reward us traders for being discipline enough to wait for the right signal, and then pulling the trigger on it.

This is one of the reason I love to be a bear Strong bearish moves tend to move 3x faster than most bull runs, providing faster results and greater profits.

I am also pleased with the Battle Station Candlestick algorithm doing a great job of picking up these awesome trade opportunities. It has a set of internal filters which you can turn on/off - I am using the default filters here and its sending me notifications all throughout the day and night about new candlestick patterns, and potential buy/sell opportunities that have formed across all the markets.

I am new in forex and demo trading, i need help from you guys. I am trading only on daily chart but i want also to start trading from 4 hours chart. Please you people should teach me, i will be very grateful, thanks you all

I took that trade you posted earlier, well sort of. Missed the bearish candle but used it as a guide when I spotted the Inside Bar. I got 2:1 risk reward, so I made 2%

Some trades run on as you showed but I just aim for 5 net good trades per week, that's 10% on account.

That's for these 4 Hour signal trades, bread & butter, and the BattleStation makes it so easy!

If there are big chart patterns setting up, I will scale in and go for the huge, trending, swing trades.