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The Price is Right: Trading Price Action

  • #61
  • Mar 3, 2016 11:40pm Mar 3, 2016 11:40pm
Quoting eaglestar
{quote} Yes of course... you can use a different timeframe sequence. daily h4 1h/30 is just an example here. You can also use h4 1h 15/5 or 1h 15 5/1m to enter it is all up to you. The meaning behind it is to maximize risk reward and increase your hit rate.
Yes risk reward is a main thing. I'm a intraday trader and also I do scalp sometime, so I watch lower tf. I will learn more from your thread. Thanks for sharing.
Regards
  • #62
  • Mar 3, 2016 11:44pm Mar 3, 2016 11:44pm
Example recent Euro Chart for finding entries on lower timeframes and scalping intraday

1h

15m

5m
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #63
  • Mar 3, 2016 11:47pm Mar 3, 2016 11:47pm
Quoting Hirangan
Hi Eaglestar, is it possible do scalping on lower timeframe using this price action technique?
look at most recent post I made using 1h 15m and 5m
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #64
  • Mar 4, 2016 12:11am Mar 4, 2016 12:11am
Short video showing the drawing of key levels
Inserted Video
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #65
  • Mar 4, 2016 1:37am Mar 4, 2016 1:37am
Quoting eaglestar
This thread is meant to be a learning thread, utilizing support and resistance techniques and basic trendline techniques to find very profitable entries and exits in the forex, commodities, and equities markets. It will be mostly based on collective knowledge gained from what I have learned through the teachers I have come across. This thread is dedicated to Redsword11, KennyZ, BillyRayValentine, Ifmyante, Timothy Morge, Sam Seiden on FxStreet with whom Redsword11 had studied and started the Price is Everything thread, and pipeasy. (in no particular...
May I know what template and indicators to be used for this trading system...?
  • #66
  • Mar 4, 2016 1:44am Mar 4, 2016 1:44am
123 pattern 
Attached Image
  • #67
  • Mar 4, 2016 5:24am Mar 4, 2016 5:24am
strong resistances a head for eur/gbp .. that white ma is 200ema
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  • #68
  • Edited 8:11am Mar 4, 2016 7:48am | Edited 8:11am
look for possible reversal in

CAD

AUD

NZD

EUR starting to pull back already

Based on D
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #69
  • Edited 8:06am Mar 4, 2016 7:51am | Edited 8:06am
CAD layer zoom 1h

AUD layer zoom 1h

EUR layer zoom 1h

look for entries in direction of daily and weekly trend/price action

Edit: looks like news fake out
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #70
  • Mar 4, 2016 8:05am Mar 4, 2016 8:05am
Quoting Johnfx2
strong resistances a head for eur/gbp .. that white ma is 200ema {image}
Very good. This is what I have. By using layer technique eventually I will try to show you how to fire multiple entries for 2x and 3x+ pip count.

W

D

H4

H1/m30 entry
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #71
  • Mar 4, 2016 8:13am Mar 4, 2016 8:13am
Remember by using this we are looking for 5R+ trade opportunities. You will begin to see even 10R or 20R opportunities using small stoploss with this strategy because we will be trading with W and D. You can also get these results using 4h/1h/15m or 1h/15m/5m/1m, but for now we will focusing on looking at larger timeframes first.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #72
  • Mar 4, 2016 8:18am Mar 4, 2016 8:18am
Quoting fxenthusiast
{quote} May I know what template and indicators to be used for this trading system...?
I don't use any indicators to draw the support and resistance. I use my eyes to do that from many hours of chart reading, but I will post my basic indicators and alert indicator in the main post.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #73
  • Mar 4, 2016 10:38am Mar 4, 2016 10:38am
Quoting eaglestar
Remember by using this we are looking for 5R+ trade opportunities. You will begin to see even 10R or 20R opportunities using small stoploss with this strategy because we will be trading with W and D. You can also get these results using 4h/1h/15m or 1h/15m/5m/1m, but for now we will focusing on looking at larger timeframes first.
Hi Eaglestar,

I have tried these method off major support and resistance lines in the past then moving to lower time frame and looking for candlestick patterns to trade, I had very low success rate. I would love to master this system if it is possible. Keeping open mind.
  • #74
  • Mar 4, 2016 11:15am Mar 4, 2016 11:15am
Quoting Alamhakim
{quote} Hi Eaglestar, I have tried these method off major support and resistance lines in the past then moving to lower time frame and looking for candlestick patterns to trade, I had very low success rate. I would love to master this system if it is possible. Keeping open mind.
Keep on practicing never give up
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #75
  • Mar 4, 2016 11:46am Mar 4, 2016 11:46am
Quoting eaglestar
{quote} Keep on practicing never give up
Thank you kindly will do.
  • #76
  • Mar 4, 2016 1:08pm Mar 4, 2016 1:08pm
There are many pivot points on a chart. Which is most important?

Start with major turns

then as trend changes you can decide how to enter

my eyes see the pivots which shows me where the levels will hold and form.
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #77
  • Mar 4, 2016 10:50pm Mar 4, 2016 10:50pm
Quoting eaglestar
{quote} look at most recent post I made using 1h 15m and 5m
Great! It's clear enough. Thanks. By the way, how do you handle your trader during high impact news like NFP last night?
Regards
  • #78
  • Mar 4, 2016 11:22pm Mar 4, 2016 11:22pm
Quoting randolf
123 patternĀ {image}
This pattern is what I'm looking for. Thank you Randolf for uploading this image, really help. I think this is the basic of Price Action trading.
Regards
  • #79
  • Mar 5, 2016 4:40am Mar 5, 2016 4:40am
Quoting eaglestar
Another example of Layering (if anyone has seen this before please let me know) of price coming off a major SR level. As price starts to go down, you have multiple chances to enter to get on board the train. {image} {image}
thank you for your explanation. Still trying to understand it.
Risk comes from not knowing what you're doing.
  • #80
  • Mar 5, 2016 6:47am Mar 5, 2016 6:47am
  •  Hpt
  • Joined Jun 2015 | Status: everybody trade at one`s own risk | 648 Posts
Here you see a linechart - EU weekly -
linecharts in higher timeframes gives an extra clue for big turning points (TRENDCHANGE), remember that behind any level stands an "area" of S/R.
If you switch then to bar /Candle charts in LTF you have a better overview , finding best levels as posible.
It“s nicely visible "123pattern" as randolf posted

http://www.forexfactory.com/showthre...16#post8792416

this is just my experience over the years

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trade well and nice weekend
HPT
from level to level - you need mental strength to reach the summit
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