Price action trading
Even I had some difficulty understanding price action at first but I started studying the support and resistance levels and how the price is reacting around them. Then I included a few candlestick patterns to understand better.
I didn't go for any mentors because I used to post my charts on forums and someone would be there to explain and clear my doubts. You can try that.
ChelseaR posted:Gianfi_ posted:The best master is the chart, sit on that chair and observe, only like this you can learn the truth. This is how I see it. Go slow, you're not in a race
Do you combine indicators or candlestick patterns?
no indicators, just price action, I studied how the price does fake outs
Gianfi_ posted:ChelseaR posted:Gianfi_ posted:The best master is the chart, sit on that chair and observe, only like this you can learn the truth. This is how I see it. Go slow, you're not in a race
Do you combine indicators or candlestick patterns?
no indicators, just price action, I studied how the price does fake outs
Got it, you would be checking the price near support and resistance right? How do you manage to confirm the trend direction in this?
ChelseaR posted:Gianfi_ posted:ChelseaR posted:Gianfi_ posted:The best master is the chart, sit on that chair and observe, only like this you can learn the truth. This is how I see it. Go slow, you're not in a race
Do you combine indicators or candlestick patterns?
no indicators, just price action, I studied how the price does fake outs
Got it, you would be checking the price near support and resistance right? How do you manage to confirm the trend direction in this?
the funny thing is that I don't trade the trend, I trade my signal that can be pro-trend or not. I think that the trend can reverse in any second, at any second can appear a fake out, so I focus on that. I check the price near zones that had hold the price up or down, zones that are already tested basically (because those are the only zones that tell us that there was a REAL supply or demand, and this is an important information). Since I started using this strat I have some results finally after years, nothing exeptional, no super high winrate or R:Rs, and my account is slowly growing now. I started using this on the H1 TF but now I trade the m1. It looks like it works the same
ChelseaR posted:Gianfi_ posted:ChelseaR posted:Gianfi_ posted:The best master is the chart, sit on that chair and observe, only like this you can learn the truth. This is how I see it. Go slow, you're not in a race
Do you combine indicators or candlestick patterns?
no indicators, just price action, I studied how the price does fake outs
Got it, you would be checking the price near support and resistance right? How do you manage to confirm the trend direction in this?
what time frames do you use?
Leon2409 posted:Thank you for advice. I would also like to ask what time frames you use i was thinking of using somewhere from 1h to 1d.
I stick to 30m for entries and 1h for confirmation. What is your style?
Pretty interesting thread, I think entries on lower and confirming on higher is the best possible approach. It works well for me , in most of the cases.
