By using Price Actiontraders can focus on the most pure indicator available on the chart: Price. Yes, right here: Flex EA Forum. US Dollar Index — Need to Re-Test the Broken Trendline? Price Action and Channel Trading. Price action forrex is the science and art of trading these price fluctuations over time with little or no indicators.

View Tag Cloud Forum Rules Learn How to Trade Forex. Your Best Source for Forex Education on the Web. Forex Pure price action forex trading yen and Forex Discussion Board. Page 1 of Results 1 to 10 of Thread: Pure Price Action For Dummies. Subscribe to this Thread…. Switch to Hybrid Mode. Switch to Threaded Prlce. Join Date Jun Pure Price Action For Dummies. Pure Price Action Trading For Dummies. No Checklist as long as a pilots to enter a trade.

Ideal for newbies if they have not yet cluttered their trading method with too many things. Now enough of the sales pitch!!!! All you have to do is click this link below and you will be on your way to your first couple of millions and a few more to spare Sorry Folks, I was just browsing and I didnt think I actikn in me to start a thread explaining a trading method. So there I was posting charts now and then at another thread, giving advice that was not needed.

I had an exceptionally good run today so I thought what the hell. Since I pgice all done by 5 pm tradnig time I thought Ill write down one of the ways I trade. And since I have done the chart posting and sharing the trade method I thought it would be a pipping sin not to have my own thread. That grading mean I am going to do some extra work moving things from there to here. I for one am very allergic to doing more than what I absolutely have to. So without further ado, I present to you a very very basic way to make a few pips.

Always keep it simple. I hope I am not breaking any forum rules for double posting some of it here. Below are the example of a screen shot that Legendary Traders Archives use to trade. Again I dont use Indicators for this trading method. I peice in keeping it simple. Especially when you are starting off tradinv you should be paying attention to the candlestick charts and money management more than figuring out how indicators work.

What You Need To Know. Wave Patterns in a real chart. Pure price action forex trading yen watch and learn on how prices move in a real chart. Especially Higher Highs HH and Lower Lows LL. Pure price action forex trading yen helps when making a buy or sell call in general. Again no need to get lrice PHd on the subject matter. Just read up on what kind of an animal this is. I dont trade a single pair but I have my favorites.

This trading method remains profitable to date. This method has changed a little over the years, where I no longer use correlation of hrading pairs as a entry rule. Correlation has been discarded, only price action is used. Entry is focused on Day TF and Weekly now. Smaller TF is just used to pick entry signals. The only thing that matters is valid bias and entry. Or previous D TF wave peak if entry is on today's HH or LL. Tracing occasionally makes me hold longer.

Ability to read waves really helps. Ideal is one entry per day as only one valid entry is available per day if you look at it technically. I only trade one or two times a week. USE A FREAKING SL!!!!! Was made to eat the humble pie once, and it cost me alot of money. Not recommended not to muse SL!!!! Entry Triggers on D TF. If yesterday was a buy, then today is a buy. If yesterday was a sell then today is a sell. Watch for the 6 basic candle patterns.

When that occurs, wait for a reversal confirmation candle to complete before taking the trade. Example : when there is a hammer or tweezer pattern on your D TF Chart, wait for a confirmation candle in D TF to strengthen your analysis. Entry is based on H1. Hold for about 40 pips. Again candle stick patterns or pruce support and resistance areas can be used as a guide for entry in the H1 chart.

The beauty of trading with market bias is, even if you made a mistake or acfion too early on the H1 chart and it is acction against you by 40 or 50 pips, you can still aciton hold ye trade as you know where it will end up. Its as simple as that. Join Date Aug I like your style Nikitafx. Out of curiosity, what do you do when you get the daily trend bias incorrect? Ysn you engage in any form of rescue using skews or do you just cut your loses?

Oh and I would love for you to divulge more on tradinng trading if it's not too rude of me, I sense some more serious nuggets of gold to what do forex traders pay tax in the uk national lotto has been posted. Originally Posted by m0d. Oh and I would love for you to divulge more on your trading if it's not too rude of me, I sense some more serious nuggets of gold to what already has been posted.

Charts of three pairs and Correlation. The Following are the D TF Charts of three USD pairs. They are not complete candles as the trading day has not ended. I did not take screen shots of yesterdays candle first thing today morning. It was a classic scenario of different bias on tradihg pairs. I should have because it showed a good example of issues with correlation and the reading of bias.

AU had completed the pullback D TF candle as highlighted by the yellow arrow today morning. So AU should most probably be a buy. But then GU had a bear candle. EU had a bear candle. Bear in mind, you are looking at the chart without today's candles being there. So ignore the last candle and continue reading. The validity of a reversal is only comfirmed when there is a confirmation candle. So until the confirmation candle for AU that is currently taking place or the pull back candle on EU at the moment was formed, the scenario was still set for a sell.

Can u see what I mean?? Picture it by getting rid of the last candles on the charts. The first rule is if yesterday was a sell then today is a sell. If your correlation is not spot on and you are not sure then you dont take a trade. I avoided AU altogether. Skipped GU because of the cluttered forxe patterns on previous days around that price range. There are lrice than one candle that had long ;rice in GU at that price level.

So Pricf stuck to the communist doctrine and went for a sell. Now this is where puree helps a little. I took 60 pips, my daily target and not hold tradin more because the correlation was out of whack with AU, which was showing that it might turn around and be an upper. Looked at GU and it was a mess that actkon inspire confidence.

What is there to say that prices wont get rejected at one of those areas and it ends up like an AU candle like the previous day? EU hit my 60 pips, went down a tad bit more then reversed and now it looks like a reversal. So this is an example where you use correlation to avoid misreading charts. Its an additional layer of safety. It is what I use to judge if my chart reading for pure price action forex trading yen day tradign solid or not.

If correlation is out of whack and I cant see where prices of a pair are going to go, then I avoid trading. Correlation has one drawback that you have to keep in mind. Prices dont move just because of USD movement. It also can move because actjon AD, Euro or Pound. Think about that part. I hope it helps. Have fun and Happy Pipping. Thanks for the reply. Not hedging, more a form of averaging down your position - increasing your lot sizes as prices retraces.

Nevermind I was just curious as I've seen people who advocate not traving SL, instead they would babysit their trade forwx average down a position. So just assumed you implemented something similar. I totally agree with getting the trend bias correct on the daily - having a perspective of where price is and time is so important. That along with proper money management. In my opinion is king. Anyway apologies for going off on a tangent, I'll shut up now and just enjoy your future posts.

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Euro and British Pound Price Action May Slow, but Watch out for the Yen. By DailyFx tradint forum Analysts. Last Post:PM. Choppy Price Action for New Zealand Dollar. You may not post new threads. You may not post replies. You may not post attachments. You may not edit your posts. BB code is On. HTML code is Off. All times are GMT The time now is PM. You can only grow if you are willing to feel awkward and uncomfortable when you try something new.

HUGE 950% RETURN! How I Trade With Simple Price Action Trading & Support and Resistance Analysis.

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