Simple price action trading using s&r and reversal signals from the swing points. - page 4
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its ok my friend i am sorry to ask your skype and i need to learn some more from your strategy myfriend i will try in demo but still need good confirmation entry points my friend i know and i draw the support resistance well and how you identify the entry points with candlestick pattern you are looking for bullish/bearish hammer or pin bar only or you have enter with other pattern also and what is the money management in your system you said 1:1 that is always not good because i have check it my friend i am looking for your kindful ideas more to learn for me and other newbies also my friend
thanks in advance
This type of systems is only for pro and one who has knowledge in the market....This is a total trap for newbies. Firsts of all, newbies don't know how to locate important support / resistance zones to trade with. They need to undergo some stage on trading (ei, loosing a lot of times) before they realize this. I have gone through this stage. It is also not advised for newbies to pick tops and bottoms. Its not their level at the moment. Newbies will be the one to realize how S&R levels work.. they will discover it themselves.
AS a rule of thumb, Newbies should never pick TOPS and BOTTOMS on Live. They can do it on demo and should win at least 8 out of 10times, APPLYING PROPER Money Management,before they attempt in on Real account..
In 4h Time frame, candle stick pattern like pinbars can be accurate, but a lot of it are also not. This depends on how a trader spots a support/resistance. Failing to spot one, will surely lead to losses... and more losses.
I trade 4h charts even without those candle stick patterns, as long as i know where are S&R's. That's all i need. Candlesticks just gives added confirmation.
i appreciate you style because i can understand how this works. I know this is profitable , if used by a trader with the right experience. But i know your not telling your "ace" on how to spot resistance/support. Your examples are good, but i think your most important strategy is not explained there, as i can see it.
I'm also using a similar approach, but i take reversal signals on certain pattern completions and confluence of ratios and round numbers
In addition to H4, I also take the breakout approach ,when S&R levels are broken. This can be easier for newbies to trade.
Regardless, i know your a successful trader, because all successful ones are the one who can read the market language.
Hi everyone) In this post i am going to share the strong and valid reversal price action trading signals i use in my trading.Picking these price action reversal signals from the right S&R levels and swing points gives us the high probability trade setups.
Bearish Pin bar reversalIt shows that the bulls(buyers) made a higher high but later bears (sellers) came into the power and managed to pushed and closed price lower.
Bullish pin bar reversalIt shows that the bears(sellers) made a lower low but later bulls(buyers) came into power and managed to pushed and closed the price high
Pin bars should stick out from the rest of the price
They should open and close within the previous bar
The wick should be at least three times the size of the body
The best pin bars don,t have bigger wicks in the trading direction
Bearish engulfing barBearish engulfing bar as it name states engulfs the previous candle(including the wicks and body)within itself.This shows the bears managed to defeat the bulls.
Bullish engulfing barBearish engulfing bar as it name states engulfs the previous candle(including the wicks and body)within itself.This shows the bulls managed to defeat the bears.
sorry cant post the pic because i can only post 5 images per post and i am sure you can google that)
Engulfing bars as their name states should fully engulf the previous candles including the wicks and bodies.
Engulfing bars should be closed at least 1/3 in the direction of the trade
Bearish two bar reversalAfter the formation of a bullish candle the second candle opens near its high,s and move downwards swiftly and closed below the low of the previous bullish bar.
Bullish two bar reversalAfter the formation of the bearish candle the second candle opens near it lows and move upward,s swiftly and closed above the high of the previous bearish bar.
A two bar reversal is basically a pin bar which formed over two sessions and
if we blend the two candles together it should make a pin bar.
Thanks
Secure Trading
its ok my friend i am sorry to ask your skype and i need to learn some more from your strategy myfriend i will try in demo but still need good confirmation entry points my friend i know and i draw the support resistance well and how you identify the entry points with candlestick pattern you are looking for bullish/bearish hammer or pin bar only or you have enter with other pattern also and what is the money management in your system you said 1:1 that is always not good because i have check it my friend i am looking for your kindful ideas more to learn for me and other newbies also my friend thanks in advance
Hi afsarajeeba)No need to say sorry pal) Actually i prefer to discuss here because it,s more good to discuss with charts.Also i want the educational content be available to other people here because i created this thread for helping purpose.Definitely i advise learners to first master the skill on demo and go live only if they were confident and consistently profitable on demo.
Patience and discipline are the key elements in trading and they also apply to my trading method.Most traders fail and are not consistent because they need to be in the trade all the time.Trade only when the right high probability setup is available otherwise just sit on your hands and wait for the right moment.I have seen weeks without trading but usually i get one trade a week.Today it,s the last day of june and this month is gonna end.In this month of june i only did four trades but four out of four were successful.I dont concentrate much on the risk reward i just concentrate on the high probability of success.I also have trades with risk reward greater than 1:1 but i also take trades with less than 1:1 risk rewards let,s say i can risk 100 pips for getting 70 pips but only if the setup comes with high probability of success.I am not like those traders who take trades with big rewards but after loosing some trades they can still be profitable.I take few trades with the high probability of success and acheive high success rate.So don,t mess your head around with the risk reward and make sure you are growing your account over time.Just stick to this thread i am gonna discuss more about the money management etc .You will have questions regarding entry points answered after seeing a lot of setups and discussions.Hope that helps)
This type of systems is only for pro and one who has knowledge in the market....This is a total trap for newbies. Firsts of all, newbies don't know how to locate important support / resistance zones to trade with. They need to undergo some stage on trading (ei, loosing a lot of times) before they realize this. I have gone through this stage. It is also not advised for newbies to pick tops and bottoms. Its not their level at the moment. Newbies will be the one to realize how S&R levels work.. they will discover it themselves.
AS a rule of thumb, Newbies should never pick TOPS and BOTTOMS on Live. They can do it on demo and should win at least 8 out of 10times, APPLYING PROPER Money Management,before they attempt in on Real account..
In 4h Time frame, candle stick pattern like pinbars can be accurate, but a lot of it are also not. This depends on how a trader spots a support/resistance. Failing to spot one, will surely lead to losses... and more losses.
I trade 4h charts even without those candle stick patterns, as long as i know where are S&R's. That's all i need. Candlesticks just gives added confirmation.
i appreciate you style because i can understand how this works. I know this is profitable , if used by a trader with the right experience. But i know your not telling your "ace" on how to spot resistance/support. Your examples are good, but i think your most important strategy is not explained there, as i can see it.
I'm also using a similar approach, but i take reversal signals on certain pattern completions and confluence of ratios and round numbers
In addition to H4, I also take the breakout approach ,when S&R levels are broken. This can be easier for newbies to trade.
Regardless, i know your a successful trader, because all successful ones are the one who can read the market language.Hi wilsonibber)Thanks for all the kind words but i slightly disagree with you.
This simple trading system is an easy start for the new bies if they commit to learn on demo first then go live.Also this will save them from wasting their time with the fancy indicators,blackbox automatic systems etc and other scammy junk available on all over internet.They can excel quickly by developing good trading habits early.
I don,t trade like a retail trader who picks the tops and bottoms.I trade within the trend from the value areas.I also trade against the trend but that requires more experience and i advise newbies to first stick with the trend.I already explained my simple way of drawing S&R lines and it,s simple and a cave man can do that)
Yes i agree the main thing is the level where we trade from that,s why we say support and resistance a holy grail.Price action signals only give us the confirmation for getting into the trade.But all price action signals are not created equally and we should only take the best and solid ones.
I am not hiding anything here.That,s how i trade.
I also use confluence of many factors like market levels,current market momentum,psychological numbers etc for creating a high probability trade.
Confluence is equal to high probability of success.
I don,t advise advanced strategies like breakout and continuations for new bies because they require more experience.This thread is just about trading reversals from S&R levels and swing points.I didn,t create this thread for discussing breakouts and continuations.
I'm looking for a site with good descriptions and examples of all candlestick patterns :-) could you recommend something? because all I can find are simple patterns like doji, engulfing, etc... thanks in advance :-)
I'm looking for a site with good descriptions and examples of all candlestick patterns :-) could you recommend something? because all I can find are simple patterns like doji, engulfing, etc... thanks in advance :-)
Hi freakout) I use just three reversal signals in this trading method and they are more than enough and they are the most reliable and powerful reversal signals.But it will be good for you to have a deep insight on all patterns.Candlestick Shop
Hi freakout) I use just three reversal signals in this trading method and they are more than enough and they are the most reliable and powerful reversal signals.But it will be good for you to have a deep insight on all patterns.
in forex..normally the less the better, like the less trading normally will give better result
I'm using price action strategy...lets share my trading journal using price action strategy at Jual Beli Matawang (FOREX)
I'm using price action strategy...lets share my trading journal using price action strategy at Jual Beli Matawang (FOREX)
Hi noraz) I saw your blog and your trading strategy is different than mine.Other than that your blog is not in english language and here the viewers want to read in english.If you want to share your trading strategy than please go and open your own thread.I want to this thread to be on track.