3 Simple Tips in reading Price action

3 Simple Tips in reading Price action

What it is Price Action?

I’m one from traders who are using the price action really deeply, but in case you have to know what you are looking for. For me the price action is just some comunication between market and trader. It’s my princess and I have to do whatever she wants from me.

Pole, Break, Engulfing

This is the first thing I want to see in the chart before I take action. Price have to leave some zone in fast and strong move and It’s okay if it breaks down some barrier. This is a Pole for me, significant price action mark to start paying attention.

Pullback

This is just all about timing. After the Pole there is no need to hurry. You have to wait for your price because you want to buy low and sell high. Someone want to see pullback according to fibo 50% but I mostly want to get the right place on the price chart.

Entry

After the pullback is finished you have to time the entry of the trade. For the best here the zooming is needed. When you are trading M15, after the pullback try to zoom to M5 so you can get the right information about you trigger a bit earlier. Just wait for close of a  bar in your direction or any other Pole-Pullback formation in the lower timeframe. You goal is to lower the Stoploss.

PPC sdpafx 2018 price action

PPC sdpafx 2018 price action

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GbpAud fake breakout $5943

GbpAud fake breakout $5943

Short GbpAud is already before the target  1,7510. I sold this trade from daily daily supply and I wanted to stay in it a bit longer. This was trade on basis of fake breakout and the risk was a bit higher by 6%. The barrier was nice and stedy so there was no futher questions for me to open this trade or not. After zooming to H4 the trade was confirmed so I only moved the SL to 3% risk.

Open short trade 3,7 Lot GBP/AUD target 5943 USD

Another trades I’m looking for on GbpUsd and DAX30. There could be a good oportunity to make some money.

gbpaud sdpafx short $5943

gbpaud sdpafx short $5943

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Open trade 4 lots US30

Open trade 4 lots US30

Another long trade this month on DJI30, now from daily timeframe. There was a nice hit on daily demand around 24333. The price hit this baries so I was zooming to the lower timeframe. On the H4 there was a nice reaction to the daily demand so I was waiting for some another price action. After pullback to new H4 demand I was again zooming to the M15 and waiting for price Action.

Open position 4.1 LOT looking for close at target 3900 USD

This was a nice chance how to reach higher RRR from Lower timeframe and get the lower Stop Loss also. I think these trades are the ones that makes all the differece in my trading. I can make few losses with -$30 or -$35, but when I got few trades per week like this, everything is fine on friday and I can have a nice weekend.

070618_sdpafx long trade profit

070618_sdpafx long trade profit

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US30 long trend continuation

US30 long trend continuation

Hi traders,here I want to show you my long trade on DJI30. Price was in nice pullback on H4 and hit the H4 demand, after that i wanted to see the break/bounce and in the best case also with the engulfing. In the price action was everything so I was waiting for some nice short pullback. Somewhere around 24380.00 was my buy level.

Long DJI30 trade with closed profit $1302

Close of this trade was planed above the last swing high. I think we can hold this trade for a longer time, but I dont like to stay in open profits for to long so it’s better for me to close profits and wait for another trades.

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