Price Action @ Confluence Zones

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Hey Guys,

I wanted to get the feedback of fellow traders new and experienced on the way they take reversals and continuation in confluence zones in trending markets between 5m-4 hour charts. In the spot fx market.

I understand that continuations make up 65-70% of developed market patterns and reversals make up 30-35%.

To my understanding for price action to make a continuation it usually stabs through the Support/Resistance zone or a momentum candle then pullbacks, which may been seen in lower timeframes for it to hold to make a continuation. Reversals usually make a pin bar reversal signal at a major structure level or between 38.2 - 78.6% fib level at times a double pin bar. I also seen at times price hugging the S&R lines especially in the Asian session coming into Europe for price to pullback and breakout only for it to fake out and then breakdown or a true breakout after a false breakout. Also, price tends to have a control point at 00 numbers with it either poking through and reversing or blasting through and continuing.

What's your experience been like? Please stick to the topic.

 

depends on the time zone that you are in

USA -- usually straight forward, while european hours (in the past), very tricky move

most people got no idea on what is [price-action]

price action is about picking a time frame, then 2 MA-related lines (just like cross) and believe in swing

currently market conditions become easier and not much activity while euro is ditching greece

today (tue) euro/usd believe to be go higher as it reach double / triple bottom already

good that you collect your own statistics on the trendy/ ranging ratio -- that is just like your personal records and statistics that you could rely on

forex- unlike space shooting intuitive game -- don't keep on shooting a pair and a position, if you miss it all the times

shooting a target with a tricky movement means losing more

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