How Does Price Action Trading Work?.
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Like your articale above Bless your soul for existing. God knows where we would all be if our tutelage was left in the hands of some of these other trainers. You have inspired and helped a lot of new traders, like myself. Your efforts and time are greatly appreciated! Thank for good article, it is easy to understand. Wow, great simple reading.
Is the content available as an e-book? Thank you for what you have shared. An explanation that really helps one grasp what is going on. Yes, I will have to continue to study and get the correct mindset but very encouraging and helpful.
Love the way you explain price action. With understanding comes patience and discipline. I will go through the tutorials over and over again. Thank you very much Mr. Dale for this valuable informations. Thank you for your great post. It's really very informative and really helpful. This is a great intro to price action trading. I enjoyed the content and hope it helps form a rock-solid trading strategy as I check on your other posts.
Almost ready to quit trading Forex but thank God i found your video in youtube and catch my attention. I'm learning a lot from your articles and trying to apply what I've learned from you. Thanks a lot for sharing your talents! Keep it up and stay blessed!!! Hello dale, just started learning how to trade for the last month and your articles are very helpful to trade without indicators.
Thank you very much! Hope to get an insight from the best. It's not usually a good idea to trade through levels to try and catch a breakout. That is true, you are risking getting caught in a fake out, which occur a lot around main levels. I have been analysing yours and others strategies. Yours is easier to understand, makes sense and so far has made me cash.
I only lost one trade out of the four I placed but that was due to my own faulty analysis and not enough patience to ensure the set-up is correct. I will never make that mistake again! Thank you for the information and guidance. And then I found your website, your articles are brilliant and seem to answer that nagging doubt in my head about how to trade FOREX.
I'm seriously considering signing up for the war room membership. Keep up the good work. Dear Dale, I've learned a lot from your videos and articles. I really appreciate what you've done for us fellow traders. Thsnk you very much. Thank you so much for all that you do.
Mohd Khairul Nizam bin Rumli. It's really simple and workable. Hope you can continue to share more of your knowledge to the world of traders. I learned quite a lot. Hi Dale I have no words except to say I am impressed and how can I get a copy of this guide I will slowly learn the market. HelloThis is wonderfull, i wish i had seen it nefore i lost my money. Thanks for sharing and article hv improve my intraday techniq.
Therefore, it's not just about finding an outside candlestick and placing a trade. As you can see in the above chart of Cambrex CBM , it's best to find an outside day after a major break of a trend. In the CBM example, there was an uptrend for almost 3 hours on a 5-minute chart prior to the start of the break down.
After the break, CBM experienced an outside down day, which then led to a nice sell off into the early afternoon. A spring is when a stock tests the low of a range, only to quickly come back into the trading zone and kickoff a new trend.
I like to use volume when confirming a spring; however, the focus of this article is to explore price action strategies, so we will zone in on the candlesticks. The one common misinterpretation of springs is traders wait for the last swing low to be breached. Trading setups rarely fit your exact requirement, so there is no point in obsessing a few cents. To illustrate this point, please have a look at the below example of a spring setup. Notice how the previous low was never breached, but you could tell from the price action the stock reversed nicely off the low and a long trade was in play.
Inside bars are when you have many candlesticks clumped together as the price action starts to coil at resistance or support. The candlesticks will fit inside of the high and low of a recent swing point as the dominant traders suppress the stock to accumulate more shares. To illustrate a series of inside bars after a breakout, please take a look at the following chart. This chart of Neonode is truly unique, because the stock had a breakout after the fourth attempt at busting the high.
Then there were two inside bars that refused to give back any of the breakout gains. Please note inside bars can also occur prior to a breakout, which strengthens the odds the stock will eventually breakthrough resistance. This is honestly my favorite setup for trading.
I love it when a stock hovers at resistance and refuses to back off. This is a sign to you that things are likely going to heat up. The other benefit of inside bars is it gives you a clean set of bars to place your stops under. This way you are not basing your stop on one indicator or the low of one candlestick. Are you able to see the consistent price action in these charts? If not, were you able to read the title of the setup or the caption in both images?
The long wick candlestick is one of my favorite day trading setups. The setup consists of a major gap up or down in the morning, followed by a significant push, which then retreats. This price action produces a long wick and for us seasoned traders, we know that this price action is likely to be tested again.
Reason being, a ton of traders, entered these positions late, which leaves them all holding the bag. The counter pressure will be weak comparatively, so what can't go down must go up again. This leads to a push back to the high on a retest. Notice after the long wick, CDEP had many inside bars before breaking the low of the wick. After this break, the stock proceeded lower throughout the day. Have you ever heard the phrase history has a habit of repeating itself?
Well, trading is no different. As a trader, you can let your emotions and more specifically hope take over your sense of logic. You will look at a price chart and see riches right before your eyes.
Well, that my friend is not ra eality. Did you know in stocks there are often dominant players that consistently trade specific securities?
These traders live and breathe their favorite stock. Given the right level of capitalization, these select traders can also control the price movement of these securities. As you perform your analysis, you will notice common percentage moves will appear right on the chart. Bottom line, you shouldn't expect stocks to all of a sudden double or triple the size of their previous swings.
I fully understand the market is limitless; however, it's better to play the odds with the greatest chance versus swinging for the fences. Over the long haul, slow and steady always wins the race. Notice how FTR over a month period experienced many swings. However, each swing was on average 60 to 80 cents. While this is a daily view of FTR, you will see the same relationship of price on any time frame.
At some point, the stock will make that sort of run, but there will be a more 60 to 80 cent moves before that occur. Just on this one chart, I can count 6 or 7 swings of 60 to 80 cents. If you can trade each of these swings successfully, you in essence get the same effect of landing that home run trade without all the risk and headache.
Not to get too caught up on Fibonacci , because I know for some traders this may cross into the hokey pokey analysis zone. However, at its simplest form, less retracement is proof positive the primary trend is strong and likely to continue. Please use our Support page. You can also share forex price action reversals or any other file with the community. Upload any file up to 20 MB size without any limitations! After upload, share files instantly via Social networks or via Email with your friends or family.
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I would like to learn more from you. Your efforts and time are greatly appreciated!
Get ready for this statement, because it is big. Very informative and easy too grasp.