Price Action Trading Method.

[Kavima]

Clear and crisp charts ..TraderDude....Informative thread with S/R ,Trendlines and Pinbar strategy........

 

[TraderDude]

Setups for 12/07/2012

 

[TraderDude]

Charts for 13/07/2012.

 

[sanjn84]

sir i am gaining knowledge from u since u started the thread this is my new id i interact u before.

 

[pundit]

kya ba kavima traderdude ki charts ki tarif karta khan??????

unfortunetly we dont trade in the past like traderdude, hence this strategy of searching for patterns in the middle of the chart dont work of us.

Pls go thr the thead, Traderdude has also posted real time trades, he is not trading in the past.

 

[pundit]

Hi Traderdude,

Thanks a ton for starting this thread, I am gaining a lot from it, it is giving me a clear direction for trading.

Want to see more and more charts from you on different confluences.

 

[TraderDude]

Pls go thr the thead, Traderdude has also posted real time trades, he is not trading in the past.

It's ok pundit. Sad that people don't take time to learn price action. Well, it's their loss.

The reason we study past charts is to train ourselves to identify these setups in the future.

About confluence.

Look for

1. Round numbers
2. Trend lines
3. Horizontal S/R flips.
4. Bar confirmation.

if the above 4 conditions are met, you have a trade in a trending market.

Sideways is more tricky. You need to use all your knowledge of TA.

1. Simple indicators like MACD, RSI. Watch for Divergence on any of these in sideways markets.
2. Price patterns(harmonics work really well here)
3. Horizontal S/R.
4. Bar confirmation.

Keep it simple at first and learn as you go along.

 

[pundit]

Hi TD,

How about using BB for sideways market with Horizontal S/R and bar confirmation?

 

[TraderDude]

Hi TD,

How about using BB for sideways market with Horizontal S/R and bar confirmation?

Yes, BBands are good, they act as dynamic support and resistance very similar to moving averages. so you can use it. It combines the best of moving averages and principle of standard deviation.

Look for pinbar breaching the bands , they are the best.

Just don't use it in trending markets, you will get slaughtered.

 

[TraderDude]

Found a great setup while scanning. Let's see how this works out tomorrow.

Great confluence btw.

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