S/r +price action+confluence+patience

[mmohanar]

Up course this is not my method.I have learnt from a thread called "price action trading method" by Trade dude.I would like to thank him for this good method.

Method:

1.find s/r levels
2.confirm by price action
3.with 2 or above confluence.
4.patience.

To confirm price action look at the s/r levels
1.pin bars
2.inside bar
3.outside bar.

Let's take this method and now test this on one script.let we take first hero motor corporation.

This thread is learning purpose only.

Regards

Mmohanar

 

[mmohanar]

Many of us still struggling to draw s/r levels on chart.so I am going to show you how to draw s/r levels easily and properly.

First switch to line chart.after drawn s/r levels again switch to candle sticks.

 

[mmohanar]

Next we should look at confluence anything below.

1.trend line
2.round no
3.bolinger band
4.Macd divergence
5.Fibonacci 50%
6.moving averages
7.Fib retracement
8.ABC pattern
9.RSI etc.
Now we take the script.

This is basic s/r + price action.
Entry based on outside bar on support level.target achieved.

Later we will see advance level.

 

[c.trader]

Please continue

 

[mmohanar]

Basic s/r + price action

Pinbar confirmation @support level.

Inside bar and bullish outside bar both confirmation @ support level.

Regards,

Mmohanar

 

[mmohanar]

You all know everything this is not new.but newbies will learn from basic.

Example for valid pinbar.pinbar is powerful candle.

You see how pinbars form at support and resistance area.how the price reacting to this level.

This is not call this is for learning purpose only.pls don't take any calls based on this chart.

Regards,

Mmohanar

 

[karthik_sri]

Mohan bro,
Good one...pls continue...we will learn...

 

[mmohanar]

Very important price action pattern we should look at support and resistance levels are below.

1.PB (Pin bar)
2.IB(Inside bar)
3.BUOB(Bullish outside bar)
4.BEOB(Bearish outside bar)
5.DBLHC(Double bar low high pattern).

BUOB:
second candle should close above first candle's high.

BEOB:
second candle should close below first candle's low.

Regards

Mmohanar

 

[TradeOptions]

Excellent thread mmohanar ji. Wish you best in trading.

With regards

 

[Brill]

Great posts Mmohanar bhai, please enlighten us with more charts and entry, exit and SL methods...

When we look at higher TF it all looks so simple. Again once we enter a trade simplicity evaporate into thin air and complexity set in.