what happens next? Price action training | Forex Factory

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what happens next? Price action training

  • #1
  • First Post: Dec 24, 2016 12:51pm Dec 24, 2016 12:51pm
Have a look at the chart and see if you can trade it ...mark out your stop and target .
Winner wins a prize .
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  • #2
  • Dec 25, 2016 10:35am Dec 25, 2016 10:35am
A very Merry Christmas to you, Price777999!!

A very interesting challenge. I must say
I am still trying to make sense of Price Action but I'll give it a shot. I have marked out the levels on the attached screen shot.
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  • #3
  • Dec 25, 2016 11:00am Dec 25, 2016 11:00am
Excellent job mate and merry Christmas...

The chart was M1 gbp/usd

I should pull up a more obscure chart for the next one ....
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  • #4
  • Dec 25, 2016 11:01am Dec 25, 2016 11:01am
Your prize:
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  • #5
  • Dec 25, 2016 11:12am Dec 25, 2016 11:12am
What happens next ?
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  • #6
  • Dec 25, 2016 12:25pm Dec 25, 2016 12:25pm
Hahahaaa!! I was expecting some greens!!

Bring it on my good man...

*Pardon me for the delay. I got really shitty internet.
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  • #7
  • Dec 25, 2016 12:43pm Dec 25, 2016 12:43pm
Quoting tobeeme
Hahahaaa!! I was expecting some greens!! Bring it on my good man... *Pardon me for the delay. I got really shitty internet. {image}

Im curious, why you feel the need, to make a trade, when price is sitting right in between areas that have been identified for reversals ?where price currently is, the market might go either way, so why force it ?
Learn, a forex trader must, unlearn and relearn he will.
  • #8
  • Dec 25, 2016 12:50pm Dec 25, 2016 12:50pm
Quoting COGSx86
{quote} Im curious, why you feel the need, to make a trade, when price is sitting right in between areas that have been identified for reversals ?where price currently is, the market might go either way, so why force it ?
Great point! ..sometimes the best plan is to wait ...something I struggle with.
  • #9
  • Dec 25, 2016 12:56pm Dec 25, 2016 12:56pm
Good effort tobeeme !...maybe stop too tight ?..nothing wrong with a buy limit on the lower blue line.
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  • #10
  • Dec 25, 2016 1:03pm Dec 25, 2016 1:03pm
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Learn, a forex trader must, unlearn and relearn he will.
  • #11
  • Dec 25, 2016 1:05pm Dec 25, 2016 1:05pm
Hammer
Hammer
Engulfing


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Learn, a forex trader must, unlearn and relearn he will.
  • #12
  • Dec 25, 2016 1:06pm Dec 25, 2016 1:06pm
What you gonna do here ?
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  • #13
  • Dec 25, 2016 1:20pm Dec 25, 2016 1:20pm
Quoting price777999
What you gonna do here ? {image}
Will wait to see what price is doing ...
  • #14
  • Dec 25, 2016 1:22pm Dec 25, 2016 1:22pm
Quoting COGSx86
{quote} Im curious, why you feel the need, to make a trade, when price is sitting right in between areas that have been identified for reversals ?where price currently is, the market might go either way, so why force it ?

This is a learning process for me and I really appreciate your input COGSx86.

I also did see that the market could go either way at that point and I may have forced the trade like you rightly pointed out.
Lesson noted. But more importantly, I have been able to see the chart from your more experienced point of view.

Many thanks.
  • #15
  • Dec 25, 2016 1:44pm Dec 25, 2016 1:44pm
Quoting price777999
Good effort tobeeme !...maybe stop too tight ?..nothing wrong with a buy limit on the lower blue line. {image}

Exactly, Price777999
I placed the stop extra tight even though I knew price was going to play around that area for a while.
I need to learn to look at the bigger picture.

Thanks.
  • #16
  • Dec 25, 2016 1:48pm Dec 25, 2016 1:48pm
Quoting price777999
What you gonna do here ? {image}
How about this?

Overall trend is still up. Expecting price to go up from here after breaking the up trend line and hitting the resistance turned support line. To trade this up, I would suggest waiting for confirmation candle(s)
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  • #17
  • Dec 25, 2016 2:03pm Dec 25, 2016 2:03pm
still bullish ?
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  • #18
  • Dec 25, 2016 2:31pm Dec 25, 2016 2:31pm
Quoting price777999
still bullish ? {image}

Uh ho! I guess not. Will be watching the next support line below then?
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  • #19
  • Dec 25, 2016 5:45pm Dec 25, 2016 5:45pm
Still wanna wait ?
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  • #20
  • Dec 25, 2016 6:07pm Dec 25, 2016 6:07pm
very intresting thread thanks for the lesson looking forward to more
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