ElectroFX Pure Price Action Trading - page 9
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Very good info.
I've been watching the charts and I'm seeing some trades set up by watching for the tap & inside bar.
Have you ever written a step by step guide to finding the best trades, such as what to look for and the dos and don'ts
Something like that would really help me locate the trades that have a good chance of hitting TP instead of SL.
I'm going to go back and read this thread starting with your first post to help better understand the process.
Never have it in your mind which way the market should go according to your opinion. You have to react the most and predict the least.
If you really need to predict then have it in your mind what you further evidence is needed (location, structure, and trigger wise) to satisfy you for the next sell and the next buy at any given time. Always be aware of the next setup potential in both directions.
Naturally, based on location and structure you will see which is the closer of the two but if the sell is closer to setting up than the buy it doesn't mean that it will. Don't get married to the idea. Any example would be where location and structure were good for a buy and you were just waiting on an entry trigger, but then price breaks through your location before an entry trigger confirms it. Now depending on the picture you're looking at then you may be waiting for a new location that maintains structure to prove itself for the buy, or maybe an entry trigger for a breakout style sell, or maybe things just got undecided and it's back to waiting patiently. The reason this evidence based approach is so solid is because it's all about following the herd/money and not guessing/gambling.I have posted a free 40 minute video on youtube under my usual username over the weekend about the core concepts that make up what I have explained here so far. It just is so more complete in spoken word and video format that typed text and screenshots. I see a video insert button here at the Forum but I am not 100% sure if I am allowed to post the video here directly or not. I will email the Forum owners and double check.
I contacted the Forum management and I am allowed to post a video here so here is a video summary of what has been explained here so far with some very recent EURUSD history.
I will take a break from posting for a short while to see if there are any questions.
If everyone is up to speed to this point I will move on to using multiple timeframes to fine tune entries and also to monitor 3 "scales" of wave activity and open up some style choices; Intra-day, Intra-Week (covered so far in this thread), Intra-Month, or a mixture? Trading personality and time available to trade will be different from person to person. The good news is that you can learn this 1 group of price action concepts and then apply it to either style. Enjoy
Thanks for the video electrofx.
I just finished watching it and plan on watching a few more times so it all sinks in.
I have out of town guests coming for the weekend so I may not be back here until Sunday or Monday.
Have a good weekend everyone.
You're welcome Mark,
I hope it helps extend from, and ad to, the examples so far.
I will be making some more videos soon and then posting more examples here following that.
This video and thread so far is the most basic way to do things, next we get a little more advanced.
You have a great weekend too.
slight delay on the next video, I had to head to Athens and help out a family member this weekend so I was away from home.
I'll get it done this week though.
No problem, that will give my more time to study.
Today is my birthday so I'm taking the day off.
No problem, that will give my more time to study. Today is my birthday so I'm taking the day off.
Next video done
Hi Theo,
I've been trying to watch the video but for some reason my internet connection has been very slow lately and it won't stream.
I'll try again tomorrow.
I just did a speed test and it's showing 0.05 Mbps & usually it's over 3 Mbps