What is your Technical Analysis "Style"?

[xProphet]

First, I hope this is in the right spot.
What is your Tech Analysis style? What indicators..etc.. do you use to come to your consultations?

I use actually price movement first. I believe, "the first look" at a chart should tell you 90% of what you need to know, and everything else, (indicators..etc..) should either confirm what you see or show possible "problems" with your view.

SO i look at the chart and pick a possible direction(Bearish trend, Bullish trend, sideways.). Depending on the direction I would then Pull out my tend tool kit(2 short term MAs, 2 long term MAs, ADX,macd, vol and bollinger bands) or sidways tool kit.(Depending on how tight, Bollinger, PARSAR, Oscillators, a "Personal" Indicator) Next i would look for any chart patterns(candle and line.) Then finish up with a few oscillators(Stochs and RSI).
Even after I'm done with my analysis; I never try to predict a time, price relation. (E.g.. XYZ will be at .002 in 2 weeks.) I just watch for the signs of a reversal (and or a good "set up") and let the market decide when it's going to do it.

 

[Rob Taylor]

I trade advanced price action. That's all you need to make money in my opinion.

 

[xProphet]

I not sure what "Advanced price action" is, although a quick google search shows its chart, price based. It looks like something i may be interested in... Always looking for new "tools" to add to my tool kit. Do you have any links or resources on the subject you would be willing to share?
As far as my TA goes, I dont "Bank" on any one indicator or even a combo, I just look to see if they agree with me or show me something I may have missed.

EDIT: I found this topic on the subject, on this forum;

http://www.earnforex.com/forum/f9/electrofx-pure-price-action-trading-12471/index2.html#post48757 .

Everyone else, share your style maby we can learn from each other...

 

[BlindFA]

I too only trade pure price action, although I sometimes have a couple of indicators on to allow me to quickly glance at the chart and right away see what I need to see.

I have practiced many months on naked m1 charts to train (as my mentor suggested) and now I feel I'm really good at trading pure price action. Like Rob, I think it's the only way to trade.

I not sure what "Advanced price action" is, although a quick google search shows its chart, price based. It looks like something i may be interested in... Always looking for new "tools" to add to my tool kit. Do you have any links or resources on the subject you would be willing to share?

If you're still looking, you can look at this website. They offer price action based strategies. Hope you enjoy it

 

[xProphet]

I too only trade pure price action, although I sometimes have a couple of indicators on to allow me to quickly glance at the chart and right away see what I need to see.

I have practiced many months on naked m1 charts to train (as my mentor suggested) and now I feel I'm really good at trading pure price action. Like Rob, I think it's the only way to trade.



If you're still looking, you can look at this website. They offer price action based strategies. Hope you enjoy it

Thanks for the site ill check it out when i get some time.

On a side note, I find it entertaining how each camp likes shining a spot light on the other camp's inconsistencies. When in reality no one's style will ever be perfect due to the very nature of the markets. (Keep in mind im NOT saying your doing this, just speaking in general) Personally, I try to keep an open mind and see what can be learned from any "camp". My favorite trades (and most profitable) are the ones when 'price' is setting up and the ALL my indicators are green lighting the move. BUT. We all must do what works for us.

 

[ezrydn]

I use my "Money Pump" plan. I combine baskets, scaled baskets and scaled GOLD. On days when the market can't drive a basket, the first two aren't used and I scale GOLD all day. Mainly, I focus on price action. I've also built-in "tests" that keep me out of drawdowns.

Example: Open 7-pr basket at 0.01 lot. If all go green, I close out and reopen at 0.4 lots. Testing's not needed with scaled baskets due to using the three basket leaders to scale. And, my GOLD scale opens with 0.01 originating. If it moves away, I close with drawdown of less than $1USD. My exit there is when price retraces over an order I've dropped in front of price as it moves.