How to understand trend and price action in forex ???
- Thread starter danielelton
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So many pattern in price action that occur in the market, usually trader will learn pattern candle which so many various candle can occured like as doji, morning start and many name that I can't remember all name, but basicly price action learn using candlestick pattern to analyze the market and some using theory demand and supply
I am ever reading chart pattern on myfxbook, there are so many kinds name of pattern but I don't like to remember all name
Maybe but some trader that trying to learn price action with naked chart using candlestick because they already in desperation due already trying many kinds method and indicator but still fail, think forex as simple as possible as long as understand what we do might still can profitable
Most traders seriously only start to find their way in the markets when they learn how to trade forex using price action. It is the most stress free, logical and easy to understand method used in the markets today - and it works!
I like with your statement if many trader also like with price action, although simple but if we can learn well this will work and profitable, but as trader also need to keep risk management in trading
In my experience : I have been looking at financial charts (stocks, indices, commodities, forex ) every day for most of my waking life, having stated as a young boy at the knee of my father and I can honestly say there are no indicators, however arranged,however aligned or misaligned, however conjugated , however validated, however confirmed or not confirmed , that consistently,over time yield consistent results.Every indicator ever created breaks down before trading becomes consistently profitable and if multiple indicators are used they tend to neutralize or offset each other with similar results no matter how they may be tweaked ,adjusted or otherwise manipulated. THE ONLY THING THAT WORKS THE SAME ALL THE TIME, EACH AND EVERY TIME, WITHOUT EXCEPTION OR EQUIVOCATION, WITHOUT ALIBIS OR EXCUSES, IN TRENDING OR NON-TRENDING MARKETS,BEFORE AFTER OR DURING NEWS EVENTS IS PRICE ACTION. THAT IS ALL THERE IS SO MY ADVICE (FOR WHAT ITS WORTH) IS LEARN HOW TO USE IT.
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hey daniel.... we can define a meter, yard, liter, gallon, time or the math behind an indicators calculation very precisely.... i've never seen a precise definition of price action that everyone will agree with..... so mine will differ....
for me, if the moving averages are moving down with successive lower closes, then price action is "usually" moving down.... if the moving averages are moving up with successive higher closes , then price action is "usually" moving up.... otherwise price action is undeterminable....
for me, that holds true on every timeframe.... but it's only useful on the 4 hour and under charts..... seems most useful on the 5 and 15 minute charts...... the daily, or greater, atr puts too much at risk while determining price action for my sized accounts....
roughly speakin, with successive lower lows and falling moving averages i sell..... as seen in the chart below..... the yellow x's and diamonds reflect the bars where indicator can not determine price action.....h
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So many name chart pattern on price action, morubozu, bullish engulfing etc I can't remember all name but in analysis usually I am use daily timeframe to look trend for a week and all timframe but usually prefer use on hourly and 15M timeframe, to look price action
Yes it is true that whenever we are doing our trades with the help of price action based trading then our trading income improves and also we are able to get more profits easily 🙂
I like trade with price action because simpler than use many indicator, because I see not always indicator giving accurate signal trading all time, and simple trade with naked chart analysis also can profitable if we having patience
If we want to do our trading with the help of price action then we have to look for the current market scenario first of all and then we will be i na position to assess the signals that we are having with us.
I think Price Action is the only way to benefit from the forex market. One should always trade with the trend and not trade against the current trend.
Yes of course like as many trader said if trend is our friend and we can learn to identity the trend with more practice and learning, I think if any trader that using price action they need basic understanding with candlestick lesson
ok about the trend question there are many many many way to distiguish a trend in any certain time frame, best i could help with is YOUTUBE check you tube for trend topics there are tons and most are really helpful
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