Nice to see you traders trying out Price action and some new interesting stuff. Your are on the right track. Keep on learning and testing the new strategies. In a few years, you will be so good at it.
Agree with you) Because we should always ride with the momentum and should be on the right side of the swing .And yes i do believe price is everything.News,events,fundamentals etc is included in price.
Hi everyone) 25/06/2013 XPTUSD(future)(aka platinum) H4 long trade,Risk reward >1:1
Reasons of entry
This is how i trade H4 charts,
Trade on USDJPY, H4. Formation of Time&Price Symmetric Head & Shoulder Pattern. Resistance at shoulder.
Hi harrymonic) I just need one horizontal line on my chart to mark my S&R levels,then i wait for a valid price action action to happen on those market levels.Different traders see their charts in a different way but at the end we all are trying to predict future using the past.Then why we should not keep things simple?
The simplest trading strategies are the most profitable ones.Most traders over complicate things for them by putting several indicators and drawing a lot of lines on their charts.Their charts literally looks like a graffiti lol.Just keep things simple because in trading chaos and complexity will get you no where.
i dont use indicator, i drew the lines myself. The only indicator i use are fractals. just to easily spot swings.
Your right. charts full on indy's are really hard to understand. Decision process is overridden with indicator signals.
Since my trading method works best without any indicator i advise you to don,t rely on a indicator like fractal to mark your S&R levels.I just rely on the visual appearance of my charts for making my trading decisions.I have a simple method of marking my S&R levels which i am gonna explain in a chart below)
1)Remember S&R is not an exact line it,s a zone
2)Consider BRN,s(big round numbers) and VBRN,s (Very big round numbers) at your S&R
levels.We should not trade into these important psychological numbers.Big players like
banks etc place their orders around these numbers and they can act as support and resistance levels.
yes i know.
i don't rely on fractals they are just visually appealing to me. Fibs are my main tool. Also "time element".
you have a skype id my friend ? can you please share
Hi afsarajeeba)Why do you need my skype id?) Ask me any questions here if you have any.