Price Action Trading Method.

Rajasree, you have to first know how to figure out DB and SB before you make zones. Get rid of candlesticks and use HLC bars instead. They'd make your job easy. Best, if you could thoroughly read Tom Williams books. You won't ever need to ask anybody anything about DB & SB after that! :)
Are you referring to "Master The Markets" by Tom Williams ?
 
Current live trades. All over 50 pips. SL is moved to BE.

Note that these are Pure S/R Trades. Find solid S/R to trade like this, but first practice on demo first. Trading this way lets you reduce your risks and keep your SL small on daily charts.

Beginners wait for PA to confirm on trades like these.







Is it luck or S/R works? you tell me.
 
Could you please tell me how you arrived at the support resistance levels ?
Excellent question Paul.

To arrive at these S/R levels is quite simple. you see the flips in support and resistance as shown on chart. That flip is 'the' key S/R level. Watch how price reacts at these 'flips'. They can be found on all markets. Higher the TF , better the S/R levels.

e.g . if you trade daily's . mark the flips on Weekly and wait for PA confirmation on daily.

Will be posting more charts soon...
 
Thank you Dude, can I ask you a few more questions? What is the PA in PA confirmation ? ( I guess A could stand for Average?)

I know what an outside bar is, but by the term a "Pin Bar", shall I presume you mean a bar with a comparatively long body which closes much below or above the bars preceding it and following it?

And by "flip", do you mean the price level at which we repeatedly notice resistance or support, as the case may be ? Thanking you in advance,
Paul.
 
Thank you Dude, can I ask you a few more questions? What is the PA in PA confirmation ? ( I guess A could stand for Average?)

I know what an outside bar is, but by the term a "Pin Bar", shall I presume you mean a bar with a comparatively long body which closes much below or above the bars preceding it and following it?

And by "flip", do you mean the price level at which we repeatedly notice resistance or support, as the case may be ? Thanking you in advance,
Paul.
PA stands for Price Action. this basically means the bar pattern confirmation at the location i.e S/R.

For pin bar. just use google. Plenty of info on pin bars.

And yes Flip means flip in S/R. old support becomes new resistance and old resistance becomes new support.

Hope that clears your doubts.

Also note that this method requires you to be patient and be disciplined for the setups to form. If you lack this , then this method will not work for you and you will jump to next fancy-indicator-holy-grail-system.

Good luck!!
 
Managed to get two more trades this week.



Today i got a bit impatient and took a trade while market was ranging early in the session..but later recovered and a good one at that... See above chart.

Like i said patience is a virtue. No paper trading or system/method can teach you that. This is where most traders fail.

:thumb:
 

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