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Pelajari-harga-tindakan-forex-trading

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Belajar Forex Menggunakan Price Action Saya percaya bahwa trader pintar, yang ingin sukses dalam Forex HARUS menguasai aksi harga, dan psikologi trading mereka. Tindakan harga adalah cara termudah untuk belajar trading Forex, dan psikologi trading memastikan Anda trading dengan cara yang benar. Lupakan menggunakan indikator yang membingungkan. Jangan khawatir tentang setiap perdagangan. Lupakan trading tanpa rencana. Jika Anda ingin belajar Forex dengan cara yang benar, saya dapat membantu Anda. Ambil beberapa aksi harga perdagangan minggu ini Bergabunglah dengan buletin mingguan saya untuk mendapatkan analisis tindakan harga terbaru dan tip perdagangan saya. Menguasai psikologi trading Anda, membangun kepercayaan trading Anda, dan melakukan beberapa transaksi dengan saya. Tunggu apa lagi dimana untuk memulai Anda ingin belajar Forex, tapi Anda tidak tahu harus mulai dari mana. Nah, saya merancang forex4noob untuk membawa Anda dari dasar sampai perdagangan tindakan harga yang canggih. Saya juga membahas psikologi perdagangan, dan pengelolaan uang. Jadi Anda bisa mempelajari semua yang anda butuhkan tentang Forex disini. Di bawah ini Anda dapat melihat panduan langkah-demi-langkah. Panduan ini akan membawa Anda melalui forex4noobs, dan mulai memulai perjalanan Anda untuk belajar forex trading. Langkah 1: Dasar-Dasar Jika Anda ingin belajar Forex, The Forex Education Academy adalah langkah pertama Anda dalam proses belajar. Tidak seperti orang lain, saya tidak membuang waktu dengan dasar-dasar Forex yang tidak berguna, saya hanya mengajarkan apa yang perlu Anda ketahui. Langkah 2: Trading Plan Sebelum memulai trading live, Anda membutuhkan broker yang baik, dan rencana trading yang bagus. Dalam kursus video gratis saya mengajari Anda cara menemukan broker yang tepat, dan bagaimana menciptakan rencana pengelolaan perdagangan dan uang yang solid. Langkah 3: Strategi Perdagangan Strategi perdagangan tindakan harga saya akan mengajarkan teknik tindakan harga terkini. Seperti yang saya katakan di atas, saya percaya bahwa trader baru HARUS menguasai aksi harga, jadi saya membagikan strategi saya dengan Anda. Langkah 4: Analisis harga aksi Forex Blog Weekly, lebih dari 20 jam webinar rekaman Forex, psikologi trading, dan tip. Anda akan menemukan semua itu di blog Forex saya. Saya telah blogging selama delapan tahun, jadi ada banyak hal yang harus dilakukan melalui Aksi Trading Course Jika Anda ingin belajar tentang Price Action Trading. Maka cara trading forex ini tentunya akan sangat membantu anda. Ada banyak tip dan tip perdagangan praktis tentang bagaimana berdagang dengan aksi harga di kursus ini dan pada akhirnya, Anda akan benar-benar memiliki pemahaman yang solid dan mudah-mudahan menjadi pedagang tindakan harga yang lebih baik. Saya harus memperingatkan Anda bahwa meskipun kursus perdagangan tindakan harga ini cukup panjang dan Anda memerlukan secangkir kopi saja, tapi tidak membosankan. Itu jaminan saya Jika Anda pikir membosankan dan beritahu saya dan saya akan menyewa seorang komedian untuk mengeditnya :-). Untuk memberi gambaran tentang topik yang dibahas dalam kursus aksi harga jual ini, cukup gulir daftar isi yang ditunjukkan di atas. Jika Anda melihat topik atau bab dalam daftar isi di bawah ini yang menarik minat Anda, yang perlu Anda lakukan adalah mengeklik tautan itu dan Anda akan segera dibawa ke babtopik tanpa harus menggulir atau membaca semua yang ada dalam kursus ini. Setelah melalui kursus perdagangan tindakan harga, Anda memerlukan ini: Daftar Isi Simpan 500 Anda untuk Missus Anda Menghabiskan 8216 Cuz8217 Kursus Perdagangan Tindakan Harga ini sungguh-sungguh wanita dan pria terhormat, teman trader saya dan strategi forextradingstrategies4u yang setia. Ada situs forex yang menjual program perdagangan aksi harga dan tebak apa yang bisa Anda keluarkan dari kantong 100-500 atau lebih. Cukup lakukan pencarian Google Search dengan cepat untuk kursus perdagangan tindakan harga, berikut ini yang akan Anda lihat (saya baru saja memetik 3 yang pertama kali saya lihat): 1: Kursus Perdagangan Aksi Harga Nial Fuller8217 di pasar saat ini yang menjual 225 kali untuk saat ini. 3: Dan ini adalah cara trading harga jual Al Brooks dengan harga jual brookstradingcourse untuk 249: Jadi Anda punya dua pilihan: Anda bisa membeli kursus perdagangan tindakan harga valuta asing (tidak ada yang salah dengan membelinya, jika itu yang Anda inginkan, teruskan, mereka Sumber daya trading yang bagus untuk anda dapatkan jika anda mempunyai uang). Atau jika Anda pintar (apakah saya harus mengingatkan Anda akan hal itu) Anda dapat membaca kursus perdagangan tindakan harga ini yang saya dapatkan di sini secara gratis dan satu-satunya permintaan saya sebagai alat apresiasi adalah Anda suka, berbagi, menciak bahkan menyebutkan ini Tindakan harga jika Anda memiliki kesempatan untuk melakukannya. Itu semua yang saya minta. Pertanyaannya perlu ditanyakan: apakah kursus perdagangan tindakan harga saya mencakup semua hal yang perlu Anda ketahui tentang perdagangan tindakan harga Agar saya dapat menjawab pertanyaan Anda, saya harus mengajukan pertanyaan sebelum menjawab pertanyaan Anda 8230 Do Anda perlu tahu segalanya tentang bagaimana mobil beroperasi dari bagaimana mesin bekerja, apa yang membuat roda berputar, bagaimana cara mengganti gigi, bagaimana rem bekerja dlletc.etc. Sebelum mengendarainya atau apakah Anda hanya perlu tahu bagaimana cara meletakkan gelandangan di kursi mobil dan menyetir. Jadi, tindakan harga perdagangan ini seperti itu, hanya memberi tahu Anda apa yang perlu Anda ketahui dan hanya melihat tabel Isi di bawah ini untuk melihat berbagai topik yang dicakup dalam trading action price price ini. Seperti yang Anda lihat, ini adalah kursus perdagangan tindakan harga yang cukup komprehensif dan terperinci yang memberi Anda semua hal yang perlu Anda ketahui tentang perdagangan tindakan harga. Sekarang, mari kita masuk ke Bab 1 dari Kursus Perdagangan Tindakan Harga Price8230 Price Action Trading Course BAB 1: PENDAHULUAN UNTUK TINDAKAN HARGA Untuk benar-benar memahami tindakan harga berarti Anda perlu mempelajari apa yang terjadi di masa lalu. Kemudian amati apa yang terjadi di masa sekarang dan kemudian prediksi kemana pasar akan pergi selanjutnya. Terlepas dari apa yang mungkin Anda pikirkan, semua pedagang adalah peramal, sama seperti weatherman. Tukang cuaca tahu dari mana angin bertiup, melihat sistem tekanan tinggi dan rendah terbentuk di atas daratan, mengetahui variasi suhu, front dingin, frontyou panas tahu apa yang saya bicarakan, betul apa yang dia lakukan. Dia akan mengatakan sesuatu seperti besok. , Cuaca di Edinburg sebagian besar berawan, sedikit kemungkinan mandi dan mungkin cerah di sore hari. Bagaimana dia tahu itu Nah, dari mempelajari data masa lalu dan melihat situasi cuaca saat ini saat ini (dan belakangan ini, prediksi mereka lebih dapat diandalkan karena model komputer tingkat lanjut dan satelit cuaca di luar angkasa). Jadi trader seperti itu Jika kita salah arah, kita kehilangan uang, kita bisa melakukannya dengan benar, kita menghasilkan uang. Sederhana seperti itu. Jadi, semua yang akan Anda baca di sini adalah tentang mencoba mendapatkan arah itu sebelum Anda melakukan perdagangan. Sebelum memulai, ini adalah beberapa kata yang mungkin Anda hadapi: Bullishif pasar naik, dikatakan bullish (uptrend). Bearishif pasar sedang down, yang dikatakan bearish. Candlestick Candlesticka Bearish yang telah dibuka lebih tinggi dan tertutup lebih rendah dikatakan bearish. Candlestick candlesticka Bullish yang telah dibuka lebih rendah dan tertutup lebih tinggi dikatakan sebagai candlestick bullish. Risiko. Reward Ratio jika Anda mengambil risiko 50 dalam perdagangan untuk membuat 150 maka risikonya: pahala adalah 1: 3 yang berarti Anda menghasilkan 3 kali lebih banyak dari risiko Anda. Ini adalah contoh resiko: reward ratio. Sekarang, bab berikutnya dari kursus perdagangan tindakan harga, Anda akan mempelajari tindakan harga dan banyak lagi. Kursus Perdagangan Aksi Harga BAB 2: APA PERDAGANGAN TINDAKAN HARGA Ini adalah definisi dasar dari perdagangan aksi harga: Ketika trader membuat keputusan perdagangan berdasarkan pola harga berulang yang pernah terbentuk, mereka mengindikasikan kepada trader apa arah pasar kemungkinan besar akan bergerak. . Price action trading menggunakan alat seperti pola grafik, pola candlestick, trendlines, band harga, struktur ayunan pasar seperti kenaikan dan penurunan, level support dan resistance, konsolidasi, level retracement Fibonacci, pivots dll. Umumnya, trader aksi harga cenderung mengabaikan analisa fundamental. - faktor mendasar yang menggerakkan pasar. Mengapa Karena mereka percaya semuanya sudah didiskontokan untuk harga pasar. Tapi ada satu hal yang menurut saya tidak boleh Anda abaikan: pengumuman berita ekonomi utama seperti keputusan Suku Bunga, Non-Farm Payroll, FOMC dll. (Jika Anda tertarik dengan berita perdagangan mata uang, lihat strategi trading berita ini: suku bunga berita forex Strategi trading Strategi Perdagangan Forex Non Farm Payroll amp strategi trading berita forex 1 menit) Dari pengalaman saya sendiri dan dari apa yang telah saya lihat, saya mengatakan bahwa pelepasan berita ekonomi ini bisa menjadi teman dan musuh bagi perdagangan Anda. Heres apa yang saya maksud dengan itu: Jika Anda memang melakukan perdagangan sesuai dengan hasil siaran berita ekonomi Anda berdiri untuk menghasilkan lebih banyak uang dengan sangat cepat dalam waktu yang sangat singkat karena pelepasan berita sering cenderung bergerak dengan sangat cepat. Baik naik atau turun karena meningkatnya volatilitas. Tapi jika perdagangan Anda melawan berita, Anda bisa pergi dengan segenap keuntungan Anda dihapuskan atau hilang dan kerugiannya bisa sangat besar karena pasar bisa bergerak sangat cepat selama periode itu sehingga kemungkinan juga bahwa stop loss Anda tidak dapat dipicu. Bagan di bawah ini menunjukkan dan contoh apa yang bisa terjadi bila ada rilis berita fundamental forex utama: Ini adalah satu pengalaman yang tidak akan pernah saya lupakan. Saya menukar pengaturan tindakan harga yang sempurna, perdagangan berjalan seperti yang saya perkirakan tapi beberapa menit kemudian, pasar turun dengan sangat cepat. Stop loss saya tidak pernah dipicu pada tingkat harga dimana saya tetapkan awalnya. Saya mencoba menutup perdagangan itu sebanyak yang saya bisa tapi tidak mungkin ditutup karena harganya turun di bawah tempat harga stop loss saya adalah harga yang melompati stop loss saya. Aku hanya berdiri di sana dan melihat tanpa daya. Setelah apa yang tampak seperti keabadian, perdagangan ditutup oleh broker dengan cara yang paling buruk - cara-cara turun di bawah perdagangan tunggal itu hampir menghapus akun trading saya. Alih-alih kehilangan 2 akun trading saya, saya kehilangan hampir separuh dari akun trading saya. Saya tidak mengerti dan tidak tahu apa yang terjadi malam itu untuk membuat pasar bergerak seperti itu. Aku tidak bisa tidur malam itu. Belakangan saya menemukan bahwa ini adalah rilis berita ekonomi utama yang memindahkan pasar seperti itu. Dari kejadian itu, saya telah mempelajari pelajaran saya, jadi sebelum saya melakukan perdagangan, saya menuju ke kalender pabrik forex untuk memeriksa apakah ada berita dampak tinggi yang keluar sebelum saya melakukan perdagangan saya. Jika ada setup perdagangan yang valid tapi jika saya melihat waktunya dekat dengan berita utama yang akan diumumkan, saya tidak akan masuk. Ada pengecualian di mana saya akan melakukan perdagangan jika saya melihat bahwa saya dapat menempatkan stop loss saya di belakang level support atau resistance yang utama. Berita dampak tinggi diberi kode warna di Red. Itulah yang Anda cari (lihat gambar di bawah): Heres apa yang dapat Anda lakukan: Jika setup perdagangan yang valid terjadi, periksa dengan forexfactory untuk memastikan tidak ada pengumuman berita besar yang akan segera dilakukan yang dapat mempengaruhi perdagangan Anda. Jika ada berita yang akan dilepaskan, Anda bisa melakukan 2 hal berikut: jangan berdagang sampai setelah rilis berita dan tunggu sampai pasar mulai diperdagangkan secara normal lagi, atau jika Anda memutuskan untuk berdagang, kontrak dagang kecil karena pasar sangat tidak stabil saat berita dilepaskan. . Ini bisa bekerja untuk Anda atau melawan Anda. Anda perlu tahu apa yang Anda lakukan selama masa-masa ini. Jika Anda sudah memiliki perdagangan yang telah berjalan (sebelum waktu rilis berita) untuk beberapa waktu dan keuntungan, pikirkan untuk memindahkan stop loss lebih ketat atau mengambil beberapa keuntungan dari tabel tersebut jika pasar berjalan melawan Anda begitu berita dilepaskan. . Dalam kasus yang ideal, Anda akan melakukan perdagangan ini beberapa waktu yang lalu dan harga pasar saat ini jauh dari harga masuk perdagangan Anda dan Anda pasti sudah mengunci beberapa keuntungan dan jika pasar bergerak ke arah perdagangan Anda setelah berita Lepaskan, kamu akan menghasilkan banyak uang. 3 Alasan Penting Mengapa Anda Harus Melakukan Aksi Harga Harga Harga merupakan perilaku kolektif manusia. Perilaku manusia di pasar menciptakan beberapa pola tertentu pada grafik. Jadi, perdagangan tindakan harga benar-benar memahami psikologi pasar dengan menggunakan pola-pola itu. Itulah mengapa Anda melihat harga menyentuh level support dan memantul kembali. Itulah mengapa Anda melihat harga menyentuh level resistance dan turun. Mengapa Karena reaksi kolektif manusia Aksi harga memberi struktur pada pasar forex. Anda tidak bisa memprediksi dengan 100 akurasi dimana pasar akan pergi selanjutnya. Namun dengan aksi harga, Anda bisa, sampai batas tertentu memprediksi di mana pasar berpotensi bisa pergi. Ini karena aksi harga membawa struktur. Jadi jika Anda tahu strukturnya. Anda dapat mengurangi ketidakpastian sampai batas tertentu dan memprediksi dengan beberapa tingkat kepastian di mana pasar akan berlanjut selanjutnya. Aksi Harga membantu mengurangi kebisingan pasar dan sinyal palsu. Jika Anda trading dengan indikator stokastik atau CCI dll, mereka cenderung memberi terlalu banyak sinyal palsu. Hal ini juga terjadi pada banyak indikator lainnya. Tindakan harga membantu mengurangi jenis sinyal palsu ini. Aksi harga tidak kebal terhadap sinyal palsu namun ini adalah pilihan yang jauh lebih baik daripada menggunakan indikator lain yang pada dasarnya berasal dari data harga mentah. Aksi harga juga membantu mengurangi kebisingan. Apa itu kebisingan Kebisingan pasar hanyalah semua data harga yang mendistorsi gambaran dari tren yang mendasari hal ini terutama karena koreksi harga kecil dan juga volatilitas. Salah satu cara terbaik untuk meminimalkan kebisingan pasar adalah berdagang dari kerangka waktu yang lebih besar daripada melakukan perdagangan dari jangka waktu yang lebih kecil. Lihat 2 grafik di bawah ini untuk melihat apa yang saya maksud: Dan sekarang, bandingkan noise pasar di grafik 4 jam (perhatikan kotak putih pada grafik yang setara dengan area grafik 5 menit di atas): Kerangka waktu yang lebih kecil cenderung memiliki terlalu banyak noise dan Banyak trader kehilangan trading dalam timeframe yang lebih kecil karena mereka tidak mengerti bahwa tren besar dalam rentang waktu yang lebih besar adalah yang benar-benar mendorong apa yang terjadi dalam jangka waktu yang lebih kecil. Tapi setelah mengatakan itu, saya melakukan perdagangan dalam jangka waktu yang lebih kecil dengan menggunakan setup perdagangan yang terjadi dalam kerangka waktu yang lebih besar. Saya melakukan ini untuk mendapatkan titik harga yang lebih baik dan menjaga stop loss saya dengan ketat. Ini disebut multi-timeframe trading dan saya juga akan membahas hal ini di Bab 16 untuk menunjukkan dengan tepat bagaimana hasilnya. Apakah Aksi Harga Berlaku Untuk Setiap Pasar Lain Jawabannya adalah iya. Semua barang perdagangan tindakan harga yang dijelaskan di sini berlaku untuk semua pasar. Di sini, sebagian besar saya akan berbicara dalam hal menggunakan tindakan harga di pasar mata uang tetapi seperti yang telah saya sebutkan, konsepnya bersifat universal dan dapat diterapkan pada pasar keuangan manapun. Price Action Trading Memungkinkan Anda Melakukan Perdagangan dengan Harga Terendah Action Trading adalah tentang trading dengan keunggulan. Apa itu trading edge Nah, katakanlah itu berarti Anda perlu berdagang saat peluangnya menguntungkan Anda. Hal-hal seperti: Trading dengan trend Trading With Price Action Menggunakan pola bagan and candlestick yang andal. Trading menggunakan Support and resistance levels. Membuat pemenang Anda lebih besar daripada kehilangan perdagangan Anda Hanya dalam kerangka waktu yang lebih besar Menunggu dengan sabar pembuatan perdagangan yang tepat dan tidak mengejar perdagangan. Semua hal di atas membantu Anda berdagang dengan keunggulan. Mereka mungkin tidak keluar dan mungkin sudah pernah mendengar tentang ini sebelumnya tapi hei barang inilah yang membedakan pemenang dari pecundang Apa Harga Aksi Perdagangan Bukan Perdagangan Aksi harga tidak akan membuat Anda kaya tapi melakukan aksi jual harga dengan manajemen risiko yang tepat dapat membuat Anda menjadi trader yang menguntungkan. Beberapa dari Anda akan melalui panduan ini dan belajar dan menghasilkan banyak uang tapi beberapa dari Anda akan gagal. Begitulah hidup. Perdagangan tindakan harga bukan grail suci tapi pasti mengalahkan menggunakan indikator lain (yang seringkali lag dan turunan dari aksi harga saja). Aksi jual harga tidak akan membuat Anda sukses dalam semalam. Anda perlu dimasukkan ke dalam meter yang sulit, amati dan lihat bagaimana harga bereaksi dan melihat pola berulang itu dan kemudian percaya diri untuk menukarkannya kemudian Anda akan diberi imbalan untuk itu. Jika Anda adalah salah satu dari mereka yang akan belajar dari kursus ini dan menerapkannya pada trading forex Anda, topi saya ke Anda dan saya katakan pergi dan berhasil. Chart Time-Mengapa Penting Apakah Anda memerlukan waktu untuk memahami Price Action. Bagi sebagian dari Anda, mungkin perlu beberapa saat untuk Anda pahami, sementara beberapa dari Anda mungkin sangat cepat belajar. Perhatikan aksi harga pasar. Kembali ke masa lalu dan lihat bagaimana pasar berperilaku. Apa yang menyebabkannya berperilaku seperti itu Anda tidak bisa menjadi trader aksi harga percaya diri sampai Anda melakukan ini. Jika Anda bisa membaca grafik cukup baik untuk bisa masuk pada saat yang tepat ketika langkah itu akan lepas landas dan tidak kembali, maka Anda akan memiliki keuntungan yang sangat besar. Garis tren, pola candlestick spesifik, pola grafik yang spesifik, level retracement Fibonacci support dan level resistance adalah alat yang saya gunakan untuk bertransaksi. Jika Anda meluangkan waktu dan usaha untuk mempelajarinya, tidak lama lagi Anda akan mulai mengerti dan melihat bagaimana semua ini sesuai. Mulai belajar menukar aksi harga telanjang. Kursus Perdagangan Tindakan Harga BAB 3: MEMAHAMI PSIKOLOGI MASSA DALAM PERDAGANGAN Heres satu hal tentang aksi harga: ini merupakan perilaku manusia kolektif atau psikologi massa. Semua manusia telah berevolusi untuk merespons situasi tertentu dengan cara tertentu. Dan Anda bisa melihat ini terjadi di dunia perdagangan juga: Cara banyak pedagang berpikir dan bereaksi membentuk pola pola harga berulang yang bisa dilihat dan kemudian diprediksi dengan tingkat akurasi tertentu dimana pasar kemungkinan besar akan pergi begitu pola tertentu. terbentuk. Misalnya, jika Anda melihat tingkat resistensi utama, harga menyentuh level dan membentuk bintang jatuh pola candlestick bearish reversal. Anda kemudian dapat mengatakan dengan tingkat kepercayaan yang lebih tinggi bahwa Price akan menuju ke bawah. Karena ada begitu banyak trader yang melihat level resistance tersebut dan mereka semua tahu bahwa harga telah ditolak dari level ini pada satu atau dua kesempatan sebelumnya dan itu memberitahu mereka bahwa ini adalah level resistance dan mereka juga bisa melihat formasi candlestick pembalikan bearish. Dan coba tebak apa yang akan mereka tunggu-tunggu Mereka akan menunggu dengan perintah jual mereka bukan hanya satu pesanan penjualan tapi ribuan dari mereka, beberapa pesanan kecil dan beberapa pesanan besar. Tapi di sisi lain koin itu adalah trader yang telah membeli dengan harga rendah dan sekarang harganya mengarah ke level resistance, di mana sebagian besar level take profit mereka. Jadi begitu mereka mengambil keuntungan mereka di sekitar level resistance, itu berarti sekarang tidak ada pembeli sekarang dan lebih banyak penjual. Tip keseimbangan ke arah penjual dan bagaimana harga didorong turun dari level resistance. Karena aksi harga merupakan representasi psikologi massa, pasar digerakkan oleh aktivitas pedagang. Jadi, perdagangan tindakan harga adalah tentang memahami psikologi pasar dengan menggunakan pola tersebut dan menghasilkan keuntungan sebagai hasilnya. Ada 2 jenis aksi jual harga, 100 aksi jual harga murni dan harga jual yang tidak murni. Izinkan saya menjelaskan Harga Murni Aksi Perdagangan perdagangan tindakan harga murni berarti 100 aksi jual harga. Tidak ada indikator kecuali aksi harga saja. Perdagangan Tindakan Harga Tidak-Jadi-Murni Ini adalah saat perdagangan aksi harga digunakan dengan indikator lain dan indikator lainnya merupakan bagian dari sistem perdagangan aksi harga. Indikator ini bisa menjadi indikator tren seperti moving averages atau oscillators seperti stochastic indicator dan CCI. (Please dont go googling CCI dan indikator stokastik) Asal Harga Action Trading Charles Dow adalah orang yang dikreditkan untuk menjadi bapak analisa teknikal. Dia datang dengan Teori DOW. Teori ini mencoba menjelaskan perilaku pasar dan berfokus pada tren pasar. Salah satu bagian dari teori ini adalah bahwa harga pasar memangkas semuanya. Oleh karena itu, analis teknis menggunakan grafik harga dan pola bagan untuk mempelajari pasar dan tidak terlalu peduli dengan aspek fundamental dari apa yang mendorong pasar. Saya akan membahasnya sedikit kemudian ketika saya berbicara tentang tren apa, bagaimana tren dimulai (atau akhir) di Bab 5 dari tindakan perdagangan harga ini. BAB 4: HARGA DAN BIAYA Sekarang, mari kita pelajari harga sedikit lebih detail barang ini untuk para pemula silahkan lewati bagian ini jika Anda pikir Anda tahu Berapa harga Harga yang diberikan pada instrumen tertentu yang biasanya dalam bentuk uang dan nilainya. Tergantung pada penawaran dan permintaan. Jika permintaannya lebih, kenaikan harga karena lebih banyak pedagang mulai membeli dan menaikkan harga. Permintaan pada grafik harga Anda berada di sekitar level support. Di mana pembeli datang dan mulai membeli dan menaikkan harga Jika ada kelebihan pasokan, harga turun karena ada lebih banyak penjual dan lebih sedikit pembeli. Zona pasokan pada grafik Anda berada pada dan di sekitar tingkat resistensi di mana penjual masuk dan menurunkan harga karena fakta bahwa hanya ada sedikit pembeli. Setiap kali Anda membuka grafik Anda, yang Anda lihat hanyalah kekuatan penawaran dan permintaan di tempat kerja Jika pasar naik, apa yang Anda katakan tentang permintaan dan penawaran itu? Ini berarti ada banyak permintaan untuk instrumen itu. Atau bagaimana jika pemasaran turun maka apa yang diceritakan tentang permintaan dan penawaran maka Theres kurang diminati dan banyak persediaan. Tapi ada sesuatu yang lain tentang priceit yang memiliki komponen waktu. Jadi harga sesuatu hari ini tidak akan sama besok atau dalam sebulan atau dalam setahun. Pasokan dan permintaan dari waktu ke waktu mendorong naik turun harga. Tapi bagaimana Anda mewakili nilai harga dari waktu ke waktu yang pada gilirannya memberi tahu Anda tentang penawaran dan permintaan? Jawaban: Anda memerlukan grafik harga: batang harga, kandil dan grafik garis. Ini adalah representasi grafis dan visual dari harga dari waktu ke waktu. Dengan demikian Anda menceritakan sebuah cerita tentang kekuatan penawaran dan permintaan selama jangka waktu tertentu yang bisa menjadi 1 menit sampai satu bulan atau tahun. 3 Jenis Utama Diagram Harga Harga selama periode waktu digambarkan secara grafis dalam 3 cara utama: dengan diagram batang grafik kandil atau diagram garis. Sekarang, saya akan membahas masing-masing 3 grafik utama ini. Bagimana Bagan Bar Bagan yang Anda lihat di bawah adalah bagan batang. Benda hijau dan merah itu disebut jeruji besi. Bar hijau adalah bar bullish yang berarti harga penutupan lebih tinggi dari harga pembukaan yang memiliki jangka waktu tertentu. Bar merah tersebut adalah batangan bearish dan itu berarti harga penutupan lebih rendah dari harga pembukaan untuk jangka waktu tersebut. Batang char chart hanya terlihat seperti tongkat atau batang dengan 2 tombol pendek di kedua sisinya. Tombol di sebelah kiri adalah harga pembukaan dan kenop di sebelah kanan adalah harga penutupan. Lalu ada sumbu di ujung atas dan ujung bawahnya. Titik tertinggi atau tingkat sumbu di ujung atas adalah harga tertinggi yang dicapai selama jangka waktu atau periode tertentu dan titik terendah sumbu bawah adalah harga terendah yang juga dicapai dalam jangka waktu atau periode yang sama. Apa itu Chart Candlestick Bagan di bawah ini adalah contoh bagan candlestick. Diagram candlestick menyampaikan informasi yang sama seperti pada diagram batang di atas, satu-satunya perbedaan adalah bahwa chart candlestick memiliki bodi dan grafik batang tidak memiliki tubuh. Sebuah chart candlestick untuk memasukkannya ke cara lain adalah seperti meletakkan tubuh di atas kerangka bagan bar Heres sebuah perbandingan bagan Bar vs grafik candlestick dan catat bagaimana mereka menyampaikan informasi yang sama: Itulah satu-satunya perbedaan antara grafik batang dan Candlestick chartis yang memiliki chart candlestick body dan grafik bar tidak. Warna merah paling sering digunakan untuk menunjukkan candlestick bearish yang berarti harga dibuka tinggi dan ditutup lebih rendah. Candlestick hijau merupakan candlestick bullish dan justru sebaliknya. Apa itu Bagan Garis Bagan garis di bawah ini didasarkan pada informasi harga yang sama seperti grafik batang dan kandil yang ditunjukkan di atas. Seperti yang bisa Anda lihat, meskipun, ini menyampaikan informasi harga yang sama dari waktu ke waktu namun tidak mengungkapkan semuanya. Bagan garis adalah salah satu grafik yang paling tidak disukai untuk diperdagangkan. Diagram garis hanya ditarik dengan menghubungkan harga penutupan, tinggi atau rendah dan itulah bagaimana Anda mendapatkan garis pada grafik. Bagan garis dapat berguna untuk melihat gambaran yang lebih besar dan menemukan tren jangka panjang namun mereka tidak dapat menawarkan jenis informasi yang terdapat dalam grafik candlesticks. Dari ketiga grafik candlestick ini yang paling populer diikuti oleh bar chart. Jadi dari sini, saya hanya akan fokus pada chart candlestick saja tapi saya mungkin akan menggunakan kata bar untuk mengacu pada pola candlestick juga jadi sadarilah itu. Saya akan berbicara lebih banyak tentang candlestick (dan grafik candlestick) karena ini adalah roti dan mentega untuk pedagang aksi harga. Candlestick Diagram candlestick berawal di Jepang dan bisa juga disebut sebagai chart candlestick Jepang. Warna bagan candlestick memberi tahu Anda apakah harga naik atau turun dalam rentang waktu tertentu yang berarti bahwa candlesticks bullish atau bearish Sekarang kebanyakan trader lebih memilih untuk menetapkan candlesticks hijau sebagai candle bullish dan merah sebagai bearish. Dan aku suka hal itu terjadi untukku secara pribadi. Beberapa platform perdagangan broker memiliki pilihan di mana Anda dapat mengubah warna candlesticks menjadi warna yang Anda inginkan. Jika Anda seorang wanita, Anda bisa mengubah candlestick bullish menjadi pink dan candlestick bearish menjadi Purple (saya belum pernah melihat candlestick pink dan ungu). Candlestick yang ditunjukkan di bawah ini adalah contoh candlestick bullish. Candlestick Bullish berarti harga dibuka lebih rendah dan ditutup naik lebih tinggi setelah jangka waktu tertentu, yaitu 1minute, 5minute, 1hr atau 1 day dll. Tubuh lilin mewakili harga jarak yang telah bergerak dari harga pembukaan ke harga penutupan. Semakin lama tubuh, berarti harga telah bergerak naik ke atas setelah dibuka. Semakin pendek badan lilin berarti kebalikannya. Tingginya adalah harga tertinggi yang dicapai selama periode tersebut. Rendahnya harga terendah yang dicapai selama periode tersebut. Semua candlestick yang ditunjukkan di bawah ini adalah candlesticks bullish yang berarti bahwa harga pembukaan mereka lebih rendah dari harga penutupan dan oleh karena itu mencerminkan dan uptrend keseluruhan dalam kerangka waktu setiap candlestick terbentuk: Sekarang, candlestick yang ditunjukkan di bawah ini adalah contoh candlestick bearish. Sebuah candlestick bearish berarti candlestick dibuka pada harga tinggi dan ditutup lebih rendah setelah jangka waktu tertentu: Semua candlesticks berikut yang ditunjukkan di bawah adalah candlesticks bearish yang berarti bahwa harga pembukaan lebih tinggi dari harga penutupan, oleh karena itu mencerminkan tren turun: Understanding Buying Dan Menjual Tekanan pada Candlesticks Tahukah Anda bahwa ada candlesticks bullish yang dianggap bearish dan bearish candlesticks yang dianggap bullish Untuk benar-benar memahami konsep ini, Anda perlu memahami tekanan jual beli. Anda lihat, setiap candlestick yang terbentuk menceritakan sebuah cerita tentang pertempuran antara banteng dan beruang - yang mendominasi pertempuran, yang menang pada akhirnya, siapa yang melemah dll. Semua itu tercermin dalam candlestick yang Anda lihat. Panjang tubuh candlestick serta bayangan (atau sumbu) memberi tahu Anda sebuah cerita tentang tekanan jual beli. Misalnya, lihat dua grafik di bawah ini: Lihatlah candlestick hijau pertama di bagan kiri, candlestick bullish kanannya Ya. Tapi Anda bisa melihat bahwa ia memiliki tubuh yang sangat pendek dan sumbu yang sangat panjang (ekor). Ini memberitahu Anda bahwa penjual (bear) dominan. Jika candlestick ini terbentuk setelah mencapai level resistance, maka akan dianggap sebagai sinyal bearish meski candlestick bullish. Sekarang, Anda bisa menerapkan logika yang sama ke semua candlesticks lainnya di atas dan membaca cerita yang masing-masing katakan kepada Anda. Jika sumbu atas sangat panjang, mudah dikatakan bahwa ada banyak tekanan jual. Ini berarti harga dibuka dan didorong oleh pembeli namun dengan harga tertinggi, penjual masuk dan mengendarainya kembali. Jika sumbu bawahnya panjang, ia memberitahu Anda bahwa ada banyak tekanan beli. Penjual menurunkan harga tetapi pembeli masuk dan menaikkan harga kembali. Jika sumbu bawahnya pendek, ini memberi tahu tekanan pembelian Anda yang sangat minim. Jika sumbu atas pendek, ini memberi tahu Anda bahwa ada tekanan jual yang sangat minim. Bagaimana dengan panjang bodi candlestick Semakin lama tubuh lilin menunjukkan tekanan jual atau jual yang sangat kuat. Sebuah badan pendek dari candlestick menunjukkan pergerakan harga yang kecil dan karena itu kurang membeli atau menjual tekanan. Terkadang lilin tidak memiliki bayangan bagian atas atau bawah tapi dengan tubuh yang sangat panjang. Ini ditafsirkan dengan cara yang sama seperti candlesticks standar namun merupakan indikasi kuat sentimen pasar bullish atau negatif. Dalam kasus bullish candle, harga tidak pernah turun di bawah open. Dalam kasus candle bearish, harga tidak pernah diperdagangkan di atas open. Lihat di bawah ini: Sekarang, sejauh ini kita telah melihat candlestick wizard jika Anda menggabungkan lebih dari satu candlesticks Apa yang ditunjukkannya kepada Anda Nah, satu hal penting yang dapat ditunjukkan oleh sekelompok candlestick adalah seberapa kuat atau lemahnya pergerakan bullish atau bearish. Mereka juga bisa memberi tahu Anda apakah pergerakan bullish atau bearish melemah. Kata yang digunakan untuk menggambarkan situasi seperti itu adalah momentum. Bagan di bawah ini menunjukkan 3 candlestick bearish dalam tren turun, masing-masing dengan panjang dan panjang tubuh berkurang. Dan jika ini terjadi di sekitar level support, Anda harus duduk dan memperhatikan dan juga melihat candlestick bullish reversal yang akan memberi Anda kepercayaan diri untuk membeli. Bagan berikut di bawah ini menunjukkan contoh penurunan momentum ke bawah karena harga mendekati level support. Apa yang akan Anda lihat adalah bahwa candlestick sebelumnya akan cenderung lebih panjang dan karena harga mendekati level support, candlesticks mulai menjadi lebih pendek: Bagan berikutnya di bawah ini menunjukkan 3 candle bullish dalam uptrend masing-masing dengan panjang yang menurun. Dalam uptrend, saat Anda melihat kejadian di sekitar level resistance, Anda harus memperhatikannya. Perhatikan juga pola candlestick pembalikan bearish untuk membentuk. Ini akan memberi Anda kepercayaan diri untuk menjual: Berikut adalah contoh momentum bullish yang mengalami penurunan dalam uptrend dan kemudian harga jatuh tepat setelah itu: Perhatikan (pada grafik di atas) bagaimana candlestick bullish memiliki panjang yang meningkat dan kemudian secara bertahap turun seperti harga. Naik kemudian diikuti oleh fallmove ke bawah besar Thats momentum harga. Setiap kali melihat grafik Anda, Anda perlu menyadari hal itu. Sangat penting Lilin Candlestick-Mengapa Mereka Penting Saus lilin bersama dengan tubuh menceritakan sebuah cerita. Sumbu yang bisa disebut bayangan atau ekor candlestick adalah garis yang berada di atas dan di bawah bodi candlestick. Bagaimana sumbu lilin (tailsshadows) terbentuk dan apa artinya? Nah, mereka terbentuk karena adanya perubahan sentimen pasar. Untuk sumbu atas, harga bergerak naik dan kemudian persepsi pasar berubah oleh pedagang dan kemudian harga didorong ke bawah untuk terbuka oleh penjual. Itulah bagaimana bayangan bagian atas terbentuk. Untuk bayangan bawah, harga bergerak turun namun sentimen pasar berubah dan harga didorong naik mendekati pembelian sapi jantan. Thats bagaimana sumbu bawah atau bayangan terbentuk. Sumbu yang lebih panjang menunjukkan peningkatan perubahan sentimen pasar: Apa Arti Penting dari Lilin Candlestick Saus lilin dengan bayangan bagian atas yang panjang biasanya terjadi saat tren naik akan kehilangan kekuatan. Bayang-bayang yang jauh lebih rendah terjadi saat tren turun turun. Ok, begitulah akhir bab 4 dari kursus perdagangan tindakan harga8230. sekarang mari kita menuju ke Bab 5 di mana Anda akan belajar tentang tren. Kursus Perdagangan Aksi Harga BAB 5: TRENDS Bila Anda memiliki harga bergerak melintasi waktu karena penawaran dan permintaan, maka ini menciptakan tren. Bagian ini adalah diskusi tentang tren, bagaimana bentuk dan jenis tren dan tren struktur seperti apa yang ada. Penting bagi Anda untuk memahami struktur tren sehingga Anda tidak akan bergantung pada indikator apa pun untuk memberi tahu Anda apakah tren naik atau turun karena memahami kecenderungan apa, struktur tren, sinyal apa yang harus diceritakan kepada Anda bahwa Sebuah tren baru bisa dimulai dan yang sebelumnya diakhiri adalah satu kunci pengetahuan yang Anda butuhkan sebagai price action trader. Dan Anda hanya perlu menggunakan tindakan harga untuk memberi tahu Anda apakah tren naik, turun atau miring. Seperti yang telah saya sebutkan di atas, ada 3 jenis tren. Secara sederhana, tren adalah saat harga bergerak ke atas, turun atau ke samping. Jadi saat harga bergerak naik, disebut uptrend. Saat harga bergerak turun, disebut downtrend. Ketika harga bergerak ke samping, yang disebut dan sideways Sekarang masing-masing dari 3 jenis tren ini memiliki struktur harga tertentu tentang mereka yang memberi tahu Anda apakah pasar berada dalam tren naik, turun atau tren menyamping. Struktur ini berasal dari Teori Dow. Tapi saya akan jelaskan di sini sebentar. Teori Dow Trends Dirangkum Teori dalam istilah sederhana mengatakan bahwa: ketika harga berada dalam tren naik, harga akan membuat kenaikan harga tertinggi dan posisi terendah lebih tinggi sampai tingkat yang lebih rendah dicegat, maka itu menandakan akhir dari tren naik dan permulaan dari Sebuah tren turun. Untuk tren turun, harga akan membuat kenaikan harga terendah dan posisi terendah lebih rendah sampai level terendah rendah dicegat dan itu menandakan akhir dari tren turun dan awal dari sebuah tren naik. Structure of An Uptrend (Bull) Market With an uptrend market, prices will be making higher highs (HH) and Higher Lows (HL), see chart below for clarity: Structure of A Downtrend (Bear) Market Prices will be making Lower Highs (LH) and Lower Lows (LL). The chart shown below is a really ideal case, see chart below for clarity: But you know that in reality, the market is not like that, its more like this chart shown below: The chart above shows an initial downtrend and along the way there is a false uptrend which does not last and price moves down and then eventually another uptrend moves is happening because another lower high has been intersected(which signals end of downtrend). This is how you use price action to identify trends. You should know this stuff. Because the market is not perfect when these trends are happening, you should develop the skill to judge when a trend is still intact or when a trend is potentially reversing. And its pretty much price intersecting highs or lows. Structure Of A SidewaysRanging Market For a ranging market, in an ideal scenario, you will see price moving in a range between a support and resistance level like shown below: But what you see in the real world is not ideal as above, its more like this as shown below: CHAPTER 6: REVERSALS amp CONTINUATION A reversal is a term used to describe when a trend reverses direction. For example, the market has been in an uptrend and when price hits a major resistance level, it reversed and formed a downtrend. Thats what reversal means. Now where can reversals happen The following are the major areas where price reversals do happen: Support levels Resistance levels Fibonacci levels Heres an example of price reversing form a support level and went up and then later broke it and went down. Now that broken support level acts as resistance level when price came for a re-test of the level and sent the price tumbling down: Now, what about continuation then Well, in simple terms, continuation means that there is a main trend, for example an uptrend, that is happening and you will notice that price slows down and maybe consolidates for a little while and may fall back down a littleit is like a minor downtrend in a major uptrend move called a downswing in an a major uptrend. So when that ends and price resumes in the original uptrend direction then that is called a continuation. The chart below makes this concept a bit more clearer: So the big question is: how to spot trend continuity and execute trades at the right time The secret is in identification of specific chart patterns as well as very specific candlesticks patterns and you will discover more on the Chart Patterns and Candlestick Patterns section of this course. Top 3 reasons why it is so important for you knowing reversal pointslevels as well as understanding trend continuity patterns and signals: You dont want to be buying near or at a resistance level (which is a reversal point). You dont want to be selling at near or at a support level (which is a reversal point). You dont want be buying when the trend is down and you dont want to be selling when the trend is up thats why you need to know about continuation charts and candlestick patterns which will allow you to trade with the trend. (There are exceptions though when you can trade against the main trend like that like in trading channelssee Chapter 9 of this price action trading course where it talks about: How To Trade Channels) CHAPTER 7: UNDERSTANDING MARKET SWINGS Market Price moves in swings . A price swing is when markets moves like what a wave does. So in an uptrend, price will be making higher highs and higher lows like the figure shown below: So in an uptrend, price moves in swings like this chart shown below: And in a downtrend, price will be making lower highs and lower lows: So in a downtrend, price moves in swings like the chart shown below: 3 Reasons Why Its So Important For You To Understand Market Price Swings If you want to be really good price action trader, you have to understand this concept of how price moves in swings. This is especially true if your style of trading is trend trading or swing trading. Because if you dont understand how price moves in swings, this is what you are going to end up doing: You will execute trades at the very wrong spot For example, in a downtrend, you will sell when the market is just doing an upswing Not good Which means, you will get stopped out or you need to put in a large stop loss. Large stop loss does not necessarily mean large risk if you do position sizing based on the stop loss distance. But if you dont then thats a large risk you are taking. If you have a large stop loss, then youve got to wait a while before the market makes downswing before you to start seeing profits on your trade. Heres an example of what Im talking about: Its really not a good situation to be in. Every traders wish is that the moment a trade is placed, it goes to profit immediately. But we know the market is not like that, sometimes that happens, and sometimes it doesnt. Thats the nature of the market. So in an uptrend, you should be looking to buy on the downswing. In a downtrend, you should be looking to sell on an upswing. And the best way for doing that is by using Price Action (reversal candlesticks) as shown below: Now, these chart below is what actually happens in real life trading environment: CHAPTER 8: HOW TO TRADE SUPPORT AND RESISTANCE LEVELS Nothing is more noticeable on any chart than support and resistance levels. These levels stand out and are so easy for everyone to see Why Because they are so obvious. As a matter of fact, support and resistance trading is the core of price action trading. The key to successful price action trading lies in finding effective support and resistance levels on your charts. Now, in here, I talk about 3 types of support and resistance levels and they are: The normal horizontal support and resistance levels that you are probably most familiar about. Broken support levels become resistance levels and broken resistance levels become support levels. Dynamic Support and Resistance Levels Now, lets look at each in much more detail. Horizontal Support and Resistance Levels These are fairly easy to spot on your charts. They look like peaks and troughs. The chart below is an example and shows you to trade them: How To Find Horizontal Support And Resistance Levels On Your Chart If price has been going down for some time and hits a price level and bounces up from there, thats called a support level. Price goes up, hits a price level or zone where it cannot continue upward any further and then reverses, thats a resistance level. So when price heads back to that support or resistance level, you should expect that it will get rejected from that level again. The use of reversal candlestick trading on support and resistance levels becomes very handy in these cases. Significant Support amp Resistance Levels Not all support and resistance levels are created equal. If you really want to take trades that have high potential for success, you should focus on identifying significant support and resistance levels on your charts. Significant support and resistance levels are those levels that are formed in the large timeframes like the monthly, weekly and daily charts. And when price reacts to these levels, they usually tend to move for a very long time. Heres an example of NZDUSD that hit a resistance level on the monthly timeframe and made a 1,100 pips move down to the next significant support level and price can now be seen bouncing up from that support level: Now, heres the technique I use to trade setups that happen in larger timeframes: I switch to smaller timeframes like the 4hr amp the 1hr, 30min, 15min and even the 5min and wait for a reversal candlestick signal for my trade entries. This is so that I can get in at a much better price level as well as reducing my stop loss distance. Thats whats multi-timeframe trading is all about. Support turned Resistance Level And Resistance Turned Support Level Now, the next on is this thing called Support turned Resistance Level And Resistance Turned Support Level. There are many traders that dont realize that usually, in a downtrend, when a support level has been broken to the downside, it often tends to act as a resistance level. Here is an example shown on the chart below: So when you see such happening, you should be looking for bearish reversal candlestick to go short. As a matter of fact these Rs are the upswings in a downtrend. Similarly, in an uptrend you will also see such happening where Resistance levels get broken and when price heads back down to these, they now will act as support levelsHeres an example: Look for bullish reversal candlestick around these type of resistance turned support levels as your signal to buy. Can you see how the need for using other indicators is diminished once you understand how easy is to spot such trading setups like these CHAPTER 9: HOW TO TRADE PRICE CHANNELS What is a channel And How Do You Trade A Channel This section is about that. The path price follows and the area enclosed within it is called the price channel. The fundamental principle of how a channel form is based on support and resistance. Why price does that, I dont know but consider it as supply and demand at work. There are 3 major types of channels: the uptrend channel , the downtrend channel and the sidewayshorizontal This is what a downtrend channel looks like and how to trade it: This is what an uptrend channel looks like and shows how you can trade it: This is what a sideways channel looks like and how you can trade it: Sideways channels (or horizontal channels) are little bit different from uptrend and downtrend channels because with uptrend and downtrend channels, you would require 2 points to draw trendlines and wait for price to touch them later on before you take a trade because the trend lines are at an angle. But with sidewayshorizontal channels, you can actually start trading the setup at point 2 which can be both a resistance or support level based on the fact that a prior resistance or support level is already visible and you should expect price to bounce from those levels. Look for reversal candlesticks to buy or sell when you see such setups happening. General Rules For Trading Channels If you buy or sell on the other side of the channel, you wait for price to reach the other end of the channel to take profit or exit the trade. Place your stop loss on just outside the channel or just above the high of the candlestick (for a sell order) or just below the low of the candlestick (for a buy order) that touched the channel and shows signs of rejection. This candlestick can also be a reversal candlestick. You may also decide to take half the profits off as price is in the middle of the channel for a profitable trade. CHAPTER 10: NINE (9) PROFITABLE CHART PATTERNS EVERY TRADER NEEDS TO KNOW Theres a difference between chart patterns and candlestick patterns . Chart patterns are not candlestick patterns and candlestick patterns are not chart patterns: Chart patterns are geometric shapes found in the price data that can help a trader understand the price action, as well make predictions about where the price is likely to go. Candlestick patterns on the other hand can involve only one single candlestick or a group of candlestick which have formed one-after-the other in regard to how they form in relation to one another in terms of their body length, opening and closing prices, wicks(or shadows) etc. Not knowing what chart patterns are forming can be a costly mistake . If you are like that, this is your opportunity to get back on track. Why costly mistake Because you are completely unaware of what is forming on the charts and you end up taking a trade that is not in line with what the chart pattern is signalling or telling you These are the 9 chart patterns you will learn about today: Triangle chart patterns-symmetrical, ascending and descending (3 patterns) Head and shoulders and Inverse Head and Shoulders (2 patterns) Double Bottom and Double Top (2 patterns) Tripple Bottom and Tripple Top (2 patterns) But first up, I am going to talk about triangle chart patterns. Symmetrical Triangle There are 3 types of triangle chart patterns and the chart below shows the differences between each very clearly: Now, lets starts with the symmetrical triangle pattern first. Is A Symmetrical Triangle Bullish Or Bearish Chart Pattern The Symmetrical triangle chart pattern is a continuation pattern therefore it can be both a bullish or bearish pattern: What does this mean then Well, if you see this pattern in an uptrend, expect a breakout to the upside. See an example below: If you see a symmetrical triangle pattern form in a downtrend, then expect a breakout of this pattern to the downside like this one shown below: How To Draw A Symmetrical Triangle You will see price moving up and down but this up and down movement is converging to a single point . You need a minimum of 2 peaks and 2 troughs to draw the two trendlines on both sides. It will be only a matter of time before price breaks out of the pattern and either moves up or down. Two Simple Ways To Trade The Symmetrical Triangle 1: Trade the Initial Breakout The best way is to confirm that the breakout actually happens with a candlestick before placing your order. What I do I is for example, say Im watching a symmetrical triangle form in the 4hr charts and I know that soon a breakout will happen. I then switch to the 1hr chart to wait for the breakout to happen. If a 1hr candlestick has broken the triangle and closed belowabove it, thats my trade entry signal. So I will place a pending buy stopsell stop order to catch the breakout from there. Often I want to make sure that the 1hr candlestick closes outside of the triangle before I enter a pending buy stop or sell stop order to capture the move that happens to avoid false breakouts while the candlestick has not closed yet. But heres the problem with trading triangle breakouts, see chart below: I dont like trading breakouts like the one shown above and heres why: The stop loss distance is too large. Id prefer to enter trades with breakout candlesticks that are close to the trend lines that have been broken. I often see that such breakout of extremely long candlesticks are not sustainable and price will often tend to reverse after such candlesticks as can be seen by the chart above notice that after the breakout candlestick, there was one bearish green pin bar and then for the next 4 candlesticks afterward, the price went down . This is what tends to happened with such long breakout candlesticks. So if you entered a buy order using that long breakout candlestick above, you would have to wait a while for your trade to turn profitable. 2: Trade the retest of the trendline that is broken The second way to enter is to wait for a retest of the broken trendline in the triangle pattern then either buy or sell. This may also be handy if you had an extremely long breakout candlestick on the initial breakout, you best option is to wait for a retest of the breakout trendline then if that happens you enter. Stop loss Placement Options On Symmetrical Triangle Pattern Here are 3 ways on how to place stop loss on triangle patterns, which include symmetrical, ascending and descending triangle patterns which you will learn next. The stop loss placement techniques here are applicable to all triangle patterns so take note of that: Ascending Triangle Chart Pattern And ascending triangle pattern looks like this chart shown below: And this is how a real chart looks like: Is Ascending Triangle Pattern Bullish Or Bearish It is considered a bullish continuation pattern in an existing uptrend. So when you see this forming in an uptrend, expect a breakout to the upside. However, it can also be a strong reversal signal (bullish) when you see it form in a downtrend. Stop Loss Placement Options You can use the strategies given in symmetrical triangle. Take Profit Options I prefer to target previous resistance levels as my take profit target. Or as shown on the chart below, you can use the x pips distance as your take profit target. Another way to do it would be say 3 times the x pips or 2 times the x pips distance. That should give you your profit target level(s). Descending Triangle Chart Pattern Important things to note about the descending triangle chart pattern: The descending triangle chart pattern is characterized by a descending resistance levels and a fairly horizontal support levels converging to a point until a breakout happens to the downside as shown below: And this is how a descending triangle looks like on a chart shown below: Is Descending Triangle Pattern Bullish Or Bearish It is a bearish chart pattern that forms in a downtrend as a continuation pattern. However, this pattern can also form as a bearish reversal pattern at the end of an uptrend. Therefore regardless of where it forms, its a bearish chart pattern. How to Trade The Descending Triangle Formation Similar to the other 2 triangle patterns, you can either trade the initial breakout or wait to see if price reverses back to test the broken support level and then sell. Note: with a triangular pattern, I often prefer to wait for a candlestick to breakout and close outside of the pattern before I enter a trade. This helps to reduce false breakout signals. But there will be times when I will just trade the breakout with a pending sell stop order just a few pips under the support level to catch the breakout when it happens but when I do that, I sit and watch the close of the 1hr candlestick to make sure that it does not close above the support line (if that happens, it may mean a false breakout). And then theres the issues of extremely long breakout candlesticks again like this: As mentioned previously: when you have such extremely long breakout candlesticks like that, better to sit and wait to see if price will reverse and get back up to the support level that was broken ( a retest) which will now be acting as a resistance level and then sell when that level is touched. How To Take Profit I prefer to use previous support levels, lows or troughs and use those as my take profit target level. Another method of take profit that is commonly used is to measure the height of the triangle and if the height is say 100 pips then that is your take profit target. The chart below should give you a clear idea of how its done: Note that on the chart, the descending triangle formed the end of an uptrend. Head amp Shoulders Chart Pattern The head and shoulder chart pattern is a bearish chart pattern. This is what a head and shoulder reversal pattern looks like: Important things to note about the head and shoulder pattern: The head and shoulders pattern is a bearish reversal pattern and when found in an uptrend, it signals the end of the uptrend. Heres how this pattern forms: Eventually, the market begins to slow down after going up for some time and the forces of supply and demand are generally considered in balance. Sellers come in at the highs (left shoulder) and the downside is probed (beginning neckline.) Buyers soon return to the market and ultimately push through to new highs (head.) However, the new highs are quickly turned back and the downside is tested again (continuing neckline.) Tentative buying re-emerges and the market rallies once more, but fails to take out the previous high. (This last top is considered the right shoulder.) Buying dries up and the market tests the downside yet again. Your trendline for this pattern should be drawn from the beginning neckline to the continuing neckline. Heres another example: Heres another one: How To Trade The Head amp Shoulder Chart Pattern. The following chart below makes it much clearer. How To Calculate Profit Targets I use previous lows or troughs to set my take profit target. However, you can also use the distance in pips between the neckline and the head as your take profit target level. So if the distance is 100 pips, then if you trade the initial breakout, you set it at 100pips take profit target level like the chart shown below with the two blue lines: Inverse Head and Shoulder Pattern You will also see this pattern, though not as popular, its good to keep an eye out for it. The inverse head and shoulder pattern is bullish reversal candlestick pattern and just the opposite of head and shoulders pattern. Heres what it look like on the chart shown below: And this is what it looks like on a real chart: How to Trade the Inverse Head and Shoulder Pattern You can buy the initial breakout of the neckline or wait for the re-test, that is wait for price to breakout and then come back down to test the broken neckline and then buy. Use bullish reversal candlesticks for trade entry confirmation if you are waiting to buy on re-test. I often tend to place my profit target on previous highs. One method of calculating profit target is to measure from the head up to the trendline and what the distance in pips is your profit target. See the two blue vertical lines in the chart above. Double Bottom Chart Pattern A double bottom chart pattern is bullish reversal chart pattern and when it forms in an existing downtrend, it signals a possible upward trend. Heres what It look like: This is what a double bottom pattern looks like on a real forex chart: 3 Ways on How To Trade Double Bottoms 1: Trade the breakout of the neckline: Many traders once they see that the double pattern has formed and the neckline is being tested, thats when they get in as soon as a breakout happens. 2: Wait to enter on retest of Broken Neckline Then there are other groups of traders that like to enter when price reverses back down to touch the neckline, which now would act as a support level. Once it hits that neckline level they buy. 3: Buy on bottom 2. In this way, you have the potential to ride the trade all the way up if the neckline is intercepted. You should consider buying on bottom 2 as buying on a support levelas a matter of fact, that it what is is Look for bullish reversal candlestick patterns for trade entry signals. Take Profit Target levels If you buy on bottom 2, you can use the neckline as your take profit level, or any previous highs above that as well. If you buy the breakout of the neckline, use the distance between the bottom and the neckline in pips to calculate your profit target. See chart below for example: Double Top Chart Pattern A double top chart pattern is a bearish reversal chart pattern and when found in an uptrend and once the neckline is broken, that confirms a downtrend. The double tops are very powerful patterns and if you get into a trade at the right time, you stand to make a lot of profits when the breakout happens to the downside . Heres an example of a double top Chart Pattern shown below: How to Trade the Double Top Chart Pattern Theres 3 ways to trade the double top chart pattern: 1: Trade the initial breakout of the neckline. 2: The technique I like most to take a sell trade on Peak 2 when I see a bearish reversal candlestick. And if price moves down and intersects the neckline and continues to do down further, your profits are dramatically increased. 3: You can wait for price to go back up to test the broken neckline (which would now act as resistance level) and when you see a bearish reversal candlestick pattern, go short (sell) as this example below shows: This is how it would look like in a real forex chart: How to Take Profit On The Double Top Chart Pattern Use previous low (support levels) to set take profit targets. Or another option would be to measure the distance between the neckline and the highest peak (the range) and use that difference in pips as take profit target if you are trading the breakout from the neckline. Triple Bottom I do not see triple bottoms forming quite as oftenRegardless of that, you should have an idea of what it looks like: Triple bottoms are bullish reversal chart patterns, which means if found in a downtrend and this pattern starts to form and once the neckline is broken and price head up, this confirms that the trend is up. Heres another example of a triple bottom shown below: How to Trade The Triple Bottoms Many traders wait until the neckline is broken and trade the initial breakout. Others will wait for a retest of the broken neckline to enter a buy order once they see a bullish reversal candlestick I prefer to take trades on the 3rd bottom by watching the price action. If I see a bullish reversal candlestick pattern, I buy. Why do I do that Well, if price goes up and breaks the neckline and goes upward, I would be in a lot more profit than if I bought the breakout of the neckline. Profit taking methods would be similar to double bottom chart pattern mentioned previously The Triple Top Chart Pattern Triple tops are the opposite of triple bottoms and they are bearish chart patterns. They rarely occur but its good to know what they look like. Triple tops when found in an uptrend, it signals the end of the uptrend when the neckline is broken and price heads down. How To Trade The Triple Top Chart Pattern Some conservative traders wait for the neckline to be broken to trade that breakout. Some will most likely wait for retest of neckline and then sell. I prefer to take trades on Peak 3 and if the trade breaks the neckline and goes all the way down, I have a lot more profit to make. The key to taking a good trade on peak 3 is by looking for bearish reversal candlesticks. These are your signals to go short. If you take a trade at peak 3, you profit target can be the neckline. Or if you take a trade on the breakout of the neckline, measure the distance in pips between the neckline and the highest of the 3 peaks and use that distance to calculate your profit target. Or you can use a previous low and use that as your take profit target level as well. CHAPTER 11: TEN (10) PROFITABLE CANDLESTICK PATTERNS EVERY TRADER NEEDS TO KNOW There are lots of candlesticks, but out of all of them only 9 that you really need to know. Why Because there are very popular are really powerful so why waste time with the rest When these candlesticks form at support and resistance levels or Fibonacci levels they are great trade entry signals. 1: The Doji Candlestick Patterns. The doji candlesticks are single (individual) candlestick patterns. There are 4 types of doji candlesticks as shown below: The doji cross can be both considered a bullish or bearish signal depending on where it forms. The gravestone doji is considered a bearish reversal candlestick when formed in an uptrend or in a resistance level. The dragonfly doji is considered a bullish candlestick pattern when formed in a downtrend or in a support level. The long-legged doji shows a period of indecision by bulls and bears and depending on where it forms (uptrendresistance levelbearish signal, downtrendsupport levelbullish signal) it can be considered a bearish or bullish signal. 2: The Engulfing Candlestick Patterns The engulfing patterns are 2 candlestick patterns. For a bullish engulfing pattern, you will see that the first candle is bearish followed by the second candle which is very bullish and this 2 nd candle completely engulfs Bullish Engulfing-when formed in a support level or in a downtrend, this can signal that the downtrend is potentially ending. Bearish Engulfing-when formed in an uptrend or or in a resistance level, this is a signal that the uptrend may be ending. 3: Harami Candlestick Patterns. Bullish Harami -this is a 2 candlestick pattern. The first candlestick is a very bearish candlestick followed by a bullish candle, which is quite short and is completely covered by the shadow of first candle. When you see this in a downtrend or in an area of support, this will be your bullish(buy) signal. Bearish Harami is the exact opposite of bullish harami. When you see this pattern form in a resistance level or in an uptrend, this is a bearish reversal signal and may indicate that the uptrend is ending and you should go short (sell). The easiest way to remember the harami patterns is to think about a pregnant woman and a baby inside her tummy: 4: Dark Cloud Cover Candlestick Pattern The dark cloud is another bearish reversal candlestick pattern formation consisting of 2 candlesticks. The first one is a bullish candlestick showing a strong upward momentum but when the second candle forms, it shows a completely different storyits bearish and it closes at about the middway point of the first candlestick. When you see the dark cloud cover candlestick pattern in an uptrend or in level of resistance, its a bearish reversal signal and you should be thinking to go short (sell). 5: Piercing Line Candlestick Pattern The piercing line is the opposite of dark cloud cover. You may see this in a downtrend or forming at a support level. The first candlestick is very bearish and when the 2 nd candle forms, it tells a completely different story, its bullish. This tells you that the bears are losing steam and that the bulls are gaining strength to potentially move the market price up. The second bullish candlestick should close somewhere up the mind-point of the first candlestick. So when you see the piercing line pattern forming at support levels or in a downtrend market, take note as this is a potential bullish reversal signal so you should be thinking of going long (buying). 6: Shooting Star Candlestick Pattern This is one of the most reliable candlesticks and obviously one of the most popular due to the fact that they are so easy to spot on any chart. The shooting star is single candlestick pattern and when it forms in an uptrend or in a resistance level, then it is considered as a bearish reversal pattern and so you should be looking to sell. Note: the shooting star is sometimes called the bearish hammer, inverse hammer, inverted hammer or bearish pin bar. They all mean the same and refer to the shooting star candlestick pattern. 7: Hammer Candlestick Pattern The hammer candlestick is a single candlestick pattern pattern and its is considered a bullish reversal candlestick pattern and its the opposite of the shooting star candlestick pattern. It has a very long tail and a short upper wick or none at all. When it forms in a downtrend or at support levels, you should take notethis is a very high probability bullish reversal candlestick pattern and you should be looking to go long (buy). 8: Hanging Man Candlestick Pattern Now, what happens if you see in an uptrend a candlestick that looks like a hammer Is it still a bullish signal Well, in that case . this candlestick is a hanging man and its not a bullish signal. Heres how it looks: Now, the hanging man, is exactly like hammer but the only difference is that it must form in an uptrend. When it forms in an uptrend or in resistance levels, it tells you that there is a possibility that the uptrend is ending so you should be looking to go short (sell). See chart below: 9: Railway Track Candlestick Patterns The railway track pattern is a 2-candlestick pattern and theres a bearish and bullish railway track candlestick pattern. A notable feature of railway tracks is that they look like paralled railway tracks and both candlesticks should be of almost the same lengh and body and almost look like mirror image of each other. For a bearish railway track, the first candle is bullish followed by almost exactly the same length and body of the second candlestick which is bullish. This tells you that bulls are losing ground and bears have gained controlled. So when you see the bearish railway track pattern in an uptrend, or in an area of resistance, this is a signal that the downtrend may be starting so you should be looking to sell. Similarly but opposite is the bullish railway track pattern. When you see this in a downtred or in an area of support, take note because the market may be heading up and this is your signal to buy. 10: Spinning Top Spinning tops can be continuation candlestick patterns or reversal candlestick patterns. Spinning tops have small bodies with upper and lower shadows that exceed the length of the body. Spinning tops signal indecision. A spinning top is a single candlestick pattern and it can be both bullish or bearish. Mari saya jelaskan. If you see are bearish spinning top in a support area or in a downtrend, this can be considered a bullish reversal signal when the high of tha bearish spinning top is broken to the upside. Similarly, a bullish spinning stop in a resistance level or in an uptrend can be considered a bearish signal as soon as the low is broken to the downside. Example below shows what I mean: Spinning tops are fairly short in length compared to other candlesticks and their body length is a few steps wider than that of doji candlesticks(which actually have none or very tiny bodies). Another notable feature of spinning tops is that the wicks on both sides should be almost the same length. When I see spinning tops form on support or resistance levels, all it tells me the bears and bulls do not really know where to push the market and so when a breakout of the low or high of a spinning top by the next candle that forms usually signals the move in that direction of breakout Heres an example: Blending Candlesticks-A Concept Every Trader Needs To Know This is a technique where not many traders are aware about and I will just give you a simple example so you understand this concept better. To give you a bit of context, if you are a forex trader and you are using the metrader4 trading platform, it got only 9 timeframes where your charts can be viewed in which are the 1m, 5min, 15m, 30min, 1hr, 4hr, daily, weekly amp monthly timeframes as shown on the chart below: You may see a hammer in the 1hr timeframe but remember that that 1hr timeframe has two-30minute candles to make 1 hr, right Yes. So what do you think the candlestick pattern would be in the two-30 minute candlesticks to give you a bullish hammer candlestick pattern in the 1hr timeframe Or if you see a shooting start bearish candlestick in the 1hr timeframe, what do you think would be the candlestick pattern in the two-30minute candlesticks that gave that 1hr candlestick a shooting star Well, your answers are below: Hope you really understand this concept because heres why: In the metatrader4 trading platform, theres not partner timeframe for 1minuteyou need a 2minute chart which does not exist. Similarly, theres no 10min chart which you can use to blend with the existing 5min timeframe. Similarly, there is no 2hr timeframe to go with 4hr timeframe and no 8hr timeframe to go with the existing 4hr timeframe. So lets say you are a trader that loves to trade only hammers and shooting stars and you are waiting buy at a major support line in the 1hr timeframe. Youve been waiting patiently for a bullish hammer candlestick pattern to form to give you the signal to buy .But unfortunately, no hammer forms in the 1hr timeframe and even though you see a bullish engulfing pattern formed, you did not enter a buy trade. You just watched as price shoots up and you wished you could have bought at the bullish engulfing signal that was given but you are only interested in trading hammers. Well, if there was a 2hr time frame in metrader4, you could have switched to it and seen a very bullish hammer and you could have taken the trade but because you did not understand the concept of blending candlesticks you missed a very good trade. Here are few more examples: Notice also that a piercing line pattern when blended forms a hammer. A Dark cloud cover when blended also forms a shooting star. gt CHAPTER 12: HOW TO TRADE FIBONACCI WITH PRICE ACTION Now, I dont know about you but one thing I continue to see is that price action respects Fibonacci levelsnot all the time but when it does, some of the market moves generated can make you money very easily. The trick is to use Fibonacci and combine it with price action by using reversal candlesticks. But first, if youve never heard about Fibonacci retracement tool, then heres a brief introduction What Is The Fibonacci Retracement Tool This tool is a series or sequence of numbers identified by a guy called Leonardo Fibonacci in the 13 th Century. (Hes long dead) No, need to go into pointless details about how those numbers are derived. So what actually is a Fibonacci Retracement In technical analysis Fibonacci retracement is created by taking two extreme points (usually a major peak and trough) on your forex chart and dividing the vertical distance by the key Fibonacci ratios of 23.6, 38.2, 50, 61.8 and 100. Once these levels are identified, horizontal lines are drawn and used to identify possible support and resistance levels . The two fib levels I use the most are the 50 and the 61.8. I really do not focus at all on the others. If you are using metetrader4 Trading platform, the Fibonacci tool has an icon as shown on the chart below: Top 3 Reasons Why You Need A Fibonacci Retracement Tool: In a downtrend, after price has been going down for some time, it will move back up (upswingremember). The Fibonacci retracement tool can help you estimate or predict potential price reversal areas or levels. Similarly, in an uptrend, price will make minor downtrend moves (downswings) and the Fibonacci retracement tool will help you predict potential reversals areas or price levels. If used in conjunction with support and resistance levels and combined with price action, they do really form a powerful combination and do give highly profitable trading signals. This describes something known as price confluence . I will talk more on that later. How to Use the Fibonacci Tool On Metatrader4 It is actually a very simple 3 step process: Step1: find a peak (upswing pointresistance level) and a trough (downswing pointsupport level) Step2: Click on the Fibonacci tool icon on your chart. For the next steps, its all click and drag process Step 3a: In a downtrend market, you click first on the previous peak where you want to analyse from and drag down to the trough where price reversed from and release. Step 3b: In an uptrend market, click and drag first on the trough up to the peak and release. Thats how simple it is to draw Fibonacci retracement levels on your charts. On the chart below notice that price formed a peak and then moved down, found support and formed a trough, and price went back up: At around the 50 fib level, it starts to slow sign of losing the upward steam. You can also see the bearish spinning top candlestick which could have been used as a signal to go short (sell). Can you buy or sell just based entirely on the fib numbers like 50 or 61.8 as soon as price reaches these levels without price action Well, I think that there are traders out there that do that and you can do that. But personally, I do not like that approach. Id rather combine Fibonacci with reversal candlesticks, trend lines, support amp resistance levels etc for trade entries. Lets study the past heres an example of how to trade Fibonacci with price action in an uptrend. Notice the spinning top candlestick right at the 50 level which could have been used as a buy signal: Heres another example of how to trade Fibonacci with price action in a downtrend: You can see that this is not complicated, isnt it Very simple trade setups. Your risks are small compared to the profits you potentially can make. CHAPTER 13: HOW TO TRADE TRENDLINES WITH PRICE ACTION When the market is heading down, it forms down swings and up swings as it continually moves lower. Similarly, when the market is in an uptrend, it will form upswings and downswings as it continues to move up. The peaks that are formed by the up swings and the troughs that are formed by the down swings can be used to draw trendlines. And you need a minimum of 2 peaks to draw a downward trendline for a market that is in a downtrend and you need 2 troughs to draw an upward trendline for a market that is in an uptrend. How To Draw Downtrend Trendlines Now, for a market in a downtrend, you can connect the peaks with a line and that forms you downward trendline. What you are waiting for is for price to come back up and touch that trendline and when it does, this could mean that a down swing will start and it may be the best time to enter a short trade. The use of bearish reversal candlesticks as trade confirmation is highly recommended with this trading method. How To Draw Upward Trendlines When the the market is in an uptrend, connect 2 troughs and you have an upward trendline. When price comes to touch it later, you have a potential buy setup. The chart bellows shows a live example of a long trade on AUDNZD pair that I took at the moment whilst I was writing this guide. As you can see, I was anticipating a move up to the 1.1290 level and used that as my take profit target level. Obviously, this trade was taken based on the setup in the daily timeframe which means it may be a week or two before the profit target is hit if the market makes a nice move up or the opposite can happen . price breaks the trendline and I get stopped out or I can walk away with some profits when my trailing stop gets hit. But the next day, price broke that upward trendline and I got stopped out with a loss. But heres the thing with a trade like that my stop loss is tight . with a potential reward of more than 3 times what I risked for this trade. Heres the chart of what happened: I strongly recommend that you use bullish reversal candlesticks as a signal for executing your buylong trades. Im not glamorizing price action trading here. You will have losses like what Ive shown. But think about this if the price had moved the way I analysed, I would have made a lot more profits than what I lost. With Price action trading, you are risking less with the potential to make more and thats the beauty of price action trading. What happens if the trendline gets intersected There are a couple of things you need to be aware when a trendline gets intersected: (1)The first is that it could mean the trend has now changed. (2)The second is that it can be a false break only and price will soon head back in the original direction. Now, theres another thing about trendlines, if one trendline gets broken, you need to be see if you can draw another trendline above (or below) the one thats broken. There can be 2 or more downward trendlines or 2 or more upward trendlines at any one time on any chart in any timeframe. So if price breaks the first trendline, it still has yet to head to the 2 nd and the third etc So if you take a sell trade on the first trendline but price intersects it and you are stopped out with a loss and now price is heading to the 2 nd trendline above, you should also look to sell if you get bearish reversal candlestick signal. Heres an example of a trade in a similar situation that I took on the AUDUSD pair. See chart below: (enlarge if you cannot see clearly). You will notice that I took the first trade on the first downward trendline based on a bearish harami and also a spinning top pattern there but then price intersected that trendline and went up to the 2 nd downward trendline. I saw a shooting star so I took another short trade. Obviously, you can see how the price reacted to the trendline by forming a shooting star. That was enough signal for me to short this pair. You need to be aware of these kinds of trendlines not only on the sell side buy ton the buy side as well. I suggest you check out Trendline Trading System for more information on how to trade it. CHAPTER 14: HOW TO TRADE MOVING AVERAGES WITH PRICE ACTION Remember in the beginning I did briefly mentioned something about Not-So-Pure Price Action Trading Well, now we are at it When you use price action trading with one other indicator or a combination of indicators which are incorporated into your trading system then thats what I call Not-So-Pure Price Action Trading. (Call it whatever you like, if you think Im wrong, I really dont care). Many new traders that find it difficult to define the structure of a trending market, therefore they rely on moving averages for trend detection or identification. The only thing I see useful in moving averages is for dynamic support and resistance levels. I will explain this concept shortly. As a matter of fact moving averages do a terrible job of predicting trends in that they only do that after that trend has already started already and price has moved a great deal already. Heres an example: In the chart on the left, notice that price has crossed the HL(higher low) already, indicating that the downtrend market has started (potentially). But notice that the moving averages have not crossed yet. So price action is telling you that you are now potentially in a downtrend but moving average is saying not yet. So you have two conflicting signals. And by the time moving average confirms what the price action has indicated, price has already made a great deal of move downward already as shown by this chart on the left. So which are you really going to pick Depend on moving average to tell you that a trend has changed or depend on price action I really cant force, its your choice. Using Moving Averages For Dynamic Support And Resistance Levels The concept of dynamic support and resistance can be fully understood with a few charts given below. When the market is in a downtrend, you will notice that price moves up to the moving average lines (upswing) and then bounces back down from them (downswing). (That is if you put moving average lines on your charts). Heres an example: The similar situation happens in an uptrend: prices move down to the moving average lines (downswing) and then bounces up from them (upswing). Heres an example shown on the chart below: Now that you know this concept of dynamic support and resistance using moving averages, the next thing you need to know is that trend trading strategies can be created around them and in a very nice trending market, they are really effective. For those that love moving averages, what you can do is to look reversal candlesticks as price starts to go back to touch the moving average lines and these are used as your confirmation signal to buy or sell. In a downtrend, you should be looking for bearish reversal candlesticks like the shooting star, bearish harami, spinning tops, dark cloud cover, hanging man etc to go short (sell). In an uptrend, you should be looking out for bullish reversal candlestick patterns like pin bars, dojis, piercing line, bullish harami etc Lets study the past againon the chart below is an example of how to trade dynamic support with Price Action: Now, its easy to say here that you could have bought here and sold here etc based on what happened in the past because now you can see how the market has played out in the past But real challenge for many traders is that when a setup is happening, they will most likely second guess it because this is how its going to look: And this is how how it turned out: Heres an example of trading using dynamic resistance levels with price action : CHAPTER 15: HOW TO TRADE CONFLUENCE WITH PRICE ACTION What is confluence . Well, lets find out here in this following example What if you were watching the market and then you saw that price is heading to a resistance level and then you checked your Fibonacci retracement and its almost like a coincidence that the resistance levels is also at 61.8 Fibonacci level as well. And theres even morethe overall trend is also down. So you have 3 things lining up for you, here they are again: the overall trend is down you have a resistance level that price is coming to and you notice that the price is also heading up to the fib level is 61.8 which coincides with the resistance level. What Ive described above is an example of confluence . A confluence is a pointlevel in the market where two or more levels intersect each other (or come together) and they form a flash point or hot point or confluent point. Heres An Example Of How I Trade With Confluence Let me give a real example of a trade that I took as I was writing this. This is the daily chart for AUDUSD. Have a good and close look at it. Heres why I took that trade: I first drew a downward trendline and was waiting to see if price would come up to touch the trendline. And I also noticed that the previous support level that was broken could potentially act as a resistance level causing price to reverse. Therefore now I have two things coming together. Next thing I did was to check what the fib retracement level to see if price came and hit that resistance level what the ratio would be. Surprisingly, it was 61.8. Sweet So now I have 3 things coming together. So how did I take the trade then I switched to the 1hr timeframe and waited for price to come and hit the confluence zone and saw a shooting star, a bearish reversal Candlestick pattern (also sometimes called a bearish pin bar). That was my clue to execute a short trade right there. Heres is a close up of how the trade setup looked like in the 1hr where I was waiting to take the trade(see chart below): I risked 50 pips for this trade and later Im going to set the previous swing low as my profit target which is 215 pips and if my profit target gets hits, I will make 7 times what I risked initially. Good thing as I was stilling writing this guide this trade played out so I can show you what happened: As you can see, I managed to make 138 pips on the first trade. Note also that I also made a 2 nd trade which made 125pips as well. Even though my profit target was not hit, I used trailing stop loss as shown below until I got stopped out when price moved back up. Thats the beauty about these kinds of trades: They are really low risk-high reward entry trades. They have great chance of being profitable. Theres two ways you will learn from price action: First is to spend hours over your charts analysing what happened in the past and asking these types of questions: Why did price make a big upward move from here and why did price make a big downward move from here What price action signals that formed there that could have given anybody an indication that this massive move was about to happen You will be bloody surprised at what type of reversal candlesticks and chart patterns you will find. Then with that knowledge, get back to the present and see if you can see these patterns unfolding in the current market. Heres an example of a doji candlestick confluence with the dominant downtrend, as if formed telling you to sell the market with the trend. This short trade setup had 4 factors of confluence supporting it : The doji had confluence with the dominant downtrend, as it formed telling you to sell the market with the trend. The doji showed a clear indecision by the sellers and the buyers therefore the breakout of the low of doji candlestick was what the sellers were waiting for to push the market down. The doji candlestick also formed between 50-61.8 fibonacci retracement zone. The moving averages providing dynamic resistance. Heres another example: Now, I can put lots of charts giving you examples of what happened in the pastbut its best that now you see and understand what I am explaining here, and then go and sit down and observe what happens on your charts in real time. All this information here is providing you the foundation the basic framework you need to trade price action, the learning comes from observing and doing. CHAPTER 16: TOP 2 REASONS WHY I USE MULTI-TIMEFRAME ANALYSIS AND TRADING There are 2 main reasons why I use multi-timeframe trading: For getting better trade entries For reducing stop loss distance so I have better risk:reward ratio which means I can also increase the amount of contracts I trade without risking more of my trading accountso if my trade direction is right, I make a lot more money Now, I will explain both in detail How To Get Better Trade Entries And So Reduce Your Stop Loss Distance With Multi-Timeframe Analysis And Trading If you are trading strictly using the large timeframes like the daily chart, your stop loss distance will be huge and the issue with that is your risk:reward ratio can be reduced (no necessarily all the time): Risk to Reward Ratio Explained Simply put, investing money into the investment markets has a high degree of risk, and if youre going to take the risk, the amount of money you stand to gain needs to be big. If somebody you marginally trust asks for a 50 loan and offers to pay you 60 in two weeks, it might not be worth the risk, but what if they offered to pay you 100 The risk of losing 50 for the chance to make 100 might be appealing. So in that case your risk:reward ratio will be 1:2 But what if you decided that you want to minimize your stop loss distance And even though you are trading with a setup in the daily chart, for your trade entry, you are actually switching to the smaller timeframe and watching for a sell signal in the 1hr timeframe Well, what Ive just described is a really good example of multi-timeframe trading to get better trade entries. Lets study a chart of what happened in the past to make you understand what I am talking about This chart below is a daily chart and shows a triple top pattern in a solid resistance level. Price has been pushed down twice from this level and when the third time it price reaches this level, it was pushed down again. Now, you can see the bearish harami reversal candlestick pattern and you could have used this as your sell signal by placing a pending sell stop order just a few pips under the low. And placed your stop loss outside of the resistance line as shown on the chart above. But if you switched to the 1hr chart to wait for trade entry, your stop loss distances would be very small in comparison to the daily timeframe as shown by the chart below(Ive zoomed in to get in closer): Now, lets compare both trades in the daily chart: Notice that for the 1hr trade entry, it was done almost at the very top and the stop loss distance was very small in comparison to the trade taken in the daily timeframe. Which means that the risk:reward of the 1hr timeframe trade is a lot better than what you would get in the daily. Now, you can do this with daily timeframe and 4hrs or even down to the 30 and 15 minute timeframes. Or you can watch trade setups in the 4hr but switch to either the 1hr, 30mins, 15min and 5mins for your trade entries. I often use the 1hr for my trade entries and can even go down to 5min timeframe for my entries. If you are new trader, stick to 1hr or 4hr timeframe for your trade entries. So when you trade in the 1hr timeframe (or much smaller timeframe) you can actually trade a lot more contracts without risking more because your stop loss distance are very small compared to the larger timeframe trade. For example, the stop loss for the 1hr timeframe trade is 20 pips but for the daily timeframe trade is 80 pips. Lets say that you have a 10,000 account and you risk 2(200) each trade. If you trade in the daily chart, that stop loss of 80 pips is roughly 800 so to keep your risk at 2 the amount of contracts you will trade will be 0.25. However If youve traded in the 1hr you can be able to trade 1 standard lot. This simple example explains why I wait patiently for trade setups to happen in the monthly, weekly, daily, 4hr timeframes and then use smaller timeframes to get good trade entries. This is the beauty of multi-timeframe trading using price action. Let me give one more example of multi-time frame analysisAs Im writing this book (the date now is 5 th of Dec 2014), I can see that EURJPY has been on an uptrend since July 2012 on the monthly charts and I can also see that there is resistance level at 149.115 which it hit already. This is the monthly chart: Now, lets zoom in on the daily chart and see what the price action is like on where the arrow is pointing (see chart below): Ok, I begin to see whats happeningso obviously, EURJPY has been rejected down on the 149.115 resistance level with the formation of the shooting star (bearish candlestick signal) but now, I can see that its going back up to test that level again. Two things can happen here: Price is going to hit the resistance level and head back down ( and I will be waiting for a bearish reversal candlestick there to sell when I see one). Or its going to break it and if it breaks it, theres a significant resistance level above it you can see on the monthly chart. Now, lets go down into the 4hr chart to see what is happening there as well So now you can see how I do my multi-timeframe analysis to get down a timeframe where I execute a trade at a very good price level or entry point whilst keeping my stop loss distance tight. Now, here the thing about larger timeframes: They cover up trading setups that are happening in smaller timeframes that could be really reliable trading setups. But when you switch back and forth between timeframes, you begin to see how you can trade the larger timeframes setups based on the setups that happen in the smaller timeframes. For this eurjpy setup above, Im going to be sitting down and watching it to see if I get a bearish reversal candlestick in the 1hr or the 4hr.its probably going to happen tonight in maybe 4-8hrs time but the price is getting close to that resistance level. I really dont like trading breakouts where I see the price has been overextend for a long period of time so even if this one breakouts to the upside, I will not be buying. I will be waiting for a pullback to buy, if that happens. CHAPTER 17: TRADE THE OBVIOUS I hope you have learnt how powerful price action trading can be. Now, not all trading setups you see will become winners. But heres the thingif your losses are small but your profits are large, you will always be in be out in front. Thats why trading risk management is important. When you are watching the chart for trading setups, you need see and trade the obvious. What do I mean by that Well, if there is an obvious pattern on the chart and you can see it clearly, then you should know that there are thousands of traders out there are watching the exact same thing as you are doingbecause its so obvious . Trendlines or channels or bullish pin bar forming on major support level, if you can see that, there are many that will be seeing the same thing. All these traders will be waiting to see what happens at these levels and say if a bullish hammer forms on a major support level, then guess what will happen next The most likely outcome of that is that as soon as the high of the hammer candlestick is broken, price will shoot up Trade the obvious How many times have you ever went over your chart and you are like: Goodness me I should have taken a trade here and look at how the market moved after that bearish shooting star candlestick was formed after hitting the resistance level. When you trade the obvious, then you trade with what everybody else is seeing and in essence you are really doing piggy-back, riding on the market move created by all these orders that puts the odds in your favour. See chart below for this: if you see a support major support level and price is heading down to it and at the same time, that support level is coinciding with an upward trendline What does this mean Thats Confluence buddy And then you see a bullish Piercing line reversal candlestick form right at the area of confluence. Are you going to be undecided about this price signal and pull up stochastic or CCI indicator to really make sure (give you confidence) you need to buy. NO need for thatJust Trade the obvious CHAPTER 18: CLOSING REMARKS Some things I have learnt: Levels are not lines drawn in concrete, they get broken . You see, the more a level is tested multiple times, sooner or later it will get broken. From my observations, 2-3 times is the average, after that, expect a breakout of the level. Dont listen to analysts . They can stuff up your decision making process and cloud your judgement. For example: I see a sell setup on my chart but because Ive read the analysts report that says he is bullish on this currency pair because of this and that reason . I hesitate to pull the trigger. Later, I check the chart and see that If I had sold, I would have made money. So use your own independent judgment based on what you see on your charts. Find your best timeframe to trade . Your personality, work circumstances etc may dictate what timeframe you can use. For me, I can trade from the 4hr, 1hr down the 5 amp 1 min charts because I use multi-timeframe trading. Yes, there will be people that will say You are crazy to be trading in the smaller timeframes like the 5min and 1minute because theres too much noise in the smaller timeframes. Yes, I know thatThe whole point of me switching to lower timeframes is this: to get better trade entries. You dont have to do that, thats my style . Thats what I like. If the bus leaves you, dont chase the bus In other words dont chase trades. If you are late to get into a trade at an optimal entry point and realized that you might miss out, then back off and wait. There will always be another opportunity or wait for a retraceretestpullback etc and then enter. Be patient for the right trading setups to form. If you are suffering from losing streaks, take a break . Take a week off from trading to clear up your mind then come back with a clear mind to trade. If you have winning streaks, dont get overconfident and risk more. You streaks of losses may be just around the corner. If youve enjoyed going through my price action trading course . please dont forget to share, tweet, like and link to it by clicking those sharing buttons on the left side of this page. Saya akan sangat menghargai itu. Terima kasih. If you could shed some light of the trading system you are using ( with charts 038 examples) of what you are talking about, maybe I can give you a proper answer. With multi-timeframe trading, the lower timeframe does not necessarily have to be in the same direction as the larger timeframe. If you are using price action, what you are looking for is the 8216SIGNAL8221 when the lower timeframe starts showing indication that price may potentially start following the trend in the larger timeframe. That8217s the time you take a trade with the ancipation that the lower timeframe trend will start turning to follow the main trend in the larger timeframe. You will notice that: (1) the main trend was up up on the daily timeframe (the larger timeframe) (2) switching to lower timeframe, 4hr or 1hr to wait there for sell signals (bearish reversal candlesticks) Based on this example, you can see that daily trend was up, even the 4hr or 1 hr trend was heading up as well. But the key to this whole thing was the 8220trade setup8221 that was seen many days before it happened. I am from India and has been a kind of active trader from last many years. From last couple of years i am into price action trading and finally the account is moving to a positive direction. Though most of the things you shared above. i was already aware of but still learnt few concepts that i think can provide an extra edge to my trading.A VERY BIG THANK YOU FOR YOUR TIME AND EFFORT FOR PUTTING THIS EXCELLENT MATERIAL IN A SINGLE PAGE THAT TOO IN A VERY DETAILED MANNER. As a token of gratitude i am sharing couple of very important and knowledgeable links with you. Please visit them whenever you get a chance 8211 HAPPY TRADING amp AGAIN THANKS FOR EVERYTHING. Hai Rkay Terima kasih telah membuat blog yang sangat sangat saya cari selama ini Sudah sekian banyak saya mengunjungi web dan blog forex ,tetapi mereka hanya menjelaskan dasar nya saja. jika kita ingin mengetahui lebih lanjut harus membayar harga yang sangat tinggi. Tetapi disini dijelaskan sampai ke akar nya. sekali lagi terimakasih banyak atas ilmu nya.. Price Action adalah yang terbaik.. Maaf jika komentar saya tidak menggunakan bahasa inggris, itu karena saya tidak begitu faham. hahahaha Hi Hilman, thanks for commenting. Using Google Translate: Hai Rkay Thank you for making the blog a very highly I was looking for this I8217ve visited many web and forex blog, but they only explain its basis only. If we want to find out more should pay a very high price. But here described to her roots. sekali again thanks so much for his science. Price Action is the best. I8217m sorry if my comments do not use the English language, it is because I do not quite understand. hahahaha Hi Rkay I would like to ask for advice to you. for 5 months, I learned a demo account and start to profit consistently. I want to start a real account with an initial capital of 150, what is approximately lavarage should I use .and how many risks I use. I had been using lavarage 1: 200 and the risk of 5 of the capital. I hope you give advice and risk lavarage what should I use thank you Hi Hilman, you need figure out the answers to those questions yourself. If you are starting a live trading account with 150, the question needs to be asked: would you be satisfied with a 5 profit each trade Or even a 1 profit each trade If your trading account cannot support the contract sizes that would equate to the type of profits that you8217d like to see happening, then the chances are you are going to take a lot of risks on your 150 trading account to 8220meet that expectation8221. and that is something i cannot tell you what you should do. Leverage is totally irrelevant. How much risk per trade is.Learn Why Price Action Trading Is the Best Forex Strategy It8217s overwhelming for a beginner trader to find the 8216strategy (needle)8217 from the internet haystack. Today we are going to talk about price action trading, a simple strategy that you will fall in love with once you get a taste of it. When you research trading strategies, you often come across systems based off intense mathematical algorithms, which at first look complex and attractive. At the other extremes you see systems that are much more simplified in nature, and look too basic to actually work. Eventually, you will come to realize that keeping things as simple as possible in the markets is a much more effective way to trade. If a strategy seems difficult or complicated, then you8217re most likely going to get frustrated and abandon it. When you focus on the simple, easy things 8211 you8217re rewarded with better clarity in your trading analysis, allowing you to finally move forward instead of feeling like you8217re 8216running fast but getting nowhere8217. In this article we will discuss: the benefits of trading from a simple chart, why it is one of the most popular strategies used in the markets today, and how it can improve your trading8230 fast. Why Trade This Way If you8217re unfamiliar with the term price action trading 8211 it8217s basically the skill of interpreting raw price movements from a naked chart. The general idea is to identify recurring patterns that have proven themselves in the past to produce a profitable outcome. You can then use these same patterns to forecast future price movements when they appear in real time. We we love the simple, less involved, 8216lazy8217 approach to trading here at the The Forex Guy. Once you learn the skill of reading a plain Forex chart, you will start to really learn how the market move, and before you know it, you will be anticipating the markets next move with higher accuracy. To get started, all you really need to do is load up a simple candlestick chart, clear off any unnecessary 8216extra8217s like useless indicators (some charting platforms load a lot of indicators onto their default chart template). Once you8217ve done that, you8217re pretty much ready to get started. Many traders only start to taste the sweetness of trading success, only after learning how to trade strictly off price itself. By focusing on the candlestick themselves, a trader can learn how the market behaves at its very core 8211 trading from raw price movements will eventually transform you into a master chart reader. There are many reasons why price action strategies are becoming an increasingly hot topic among traders. It8217s because they work very effectively and are often considered the 8216holy grail8217 of technical trading . Forex price action is a methodology that you can use to read simple, naked price charts and interpret what you 8216see8217 to anticipate future price movements. These strategies are the most popular and some of the most profitable trading strategies used by all tiers of traders. Price Action Trading is Simple, And That Works In Our Favor A lot of people mistakenly believe that to become a professional trader you need to have a degree in commerce, mathematics or economics. This is due to a huge misconception that Forex trading is complicated. FALSE Its not a prerequisite to have any fancy university degrees or other qualifications in any special fields to become a trader. In fact, the 8216high school dropout8217 has just as good of a chance of becoming a successful trader as any doctor, engineer, or physicist would. Actually, the high school drop out probably has a better chance to succeed in the market over a seasoned mathematician. The humble high school student is able to read things at the surface level and be content 8211 not over complicating the issues by trying to understand every possible factor that could move the market at any given time. headache When taken at face value, the simple nature of plain charts gives everybody an equal opportunity to become successful with trading. Regardless if you8217re a single mum, studying full time, or even have a day job 8211 the markets don8217t discriminate. The benefits of price action trading have transformed my abilities as a trader, and I am confident it will do the same for you. A lot of people believe trading needs a complicated approach before you can gain any sort of advantages in the market 8211 whereas the opposite is true. Traders who use complicated trading systems burn out quickly, and self-sabotage their trading. The simple nature of candlestick based trading allow even the 8216average joe8217 to have an excellent chance at succeeding in the market. Reading The Market Via The Candlesticks Only You would be surprised what sort of information the basic candlestick chart can offer. I get questions from traders everyday 8211 How do I determine the trend Which way is the market moving Where are the important support and resistance levels These are entry level questions, and the answers are simple, but traders are searching for a deep complex answer 8211 not taking in the vital information right in front of them on the plain chart. Check out the chart below8230 By observing the swing highs and swing lows you can read a lot about the market direction. This might seem like Micky Mouse kiddy school stuff, but a lot of Forex traders seem to skip over this simple data, and are continuously looking for deeper explanations where they can8217t be found. All the information is right here 8211 don8217t ignore what the chart is trying to tell you. A bearish market is just a mirror image8230 In the chart above, the bearish moves are stronger than the bullish moves in the market 8211 showing bearish dominance and pushing the chart down through lower lows and lower highs. The other type of market environments are ranging markets, where the swing highs and lows are all contained between too major boundaries. The market is consolidating in a 8216sideways moving8217 pattern until the boundaries are breached. Ranging markets are also easy to identify, it8217s just two levels that the market is 8216trapped8217 between. Sometimes you will see the market try to breakout of range like in the chart above, but they can often fail and price just falls back down and gets caught up in the range again. Price action traders know these as 8216fakeouts8217 which trap many traders into bad positions. Eventually the market will breakout of the range, and when it does the breakouts are usually quite strong. There is a common rule of thumb that a range breakout length will equal the height of the range itself. Sometimes the market is just not readable and there is nothing more to it than that, but traders have a tendency to try and understand 8216everything8217 and will try to make sense of 8216noise82178230 This is the gold market mid 2015 8211 its a very noisy and hostile market. There is no structure here, no trend or range that is clearly definable. What see are looking at is mostly randomness and noise as the market churns away here. Don8217t try and navigate these waters, it8217s a 8216no fly zone8217 and you should take it as that, and move on. A lot of traders lose their hard earned profits trying to trade in dangerous conditions like this one. You need to be able to read, and anticipate the market before you can trade with a statistical edge 8211 there is nothing to see here, please move along A lot of traders struggle with simple chart reading because they try look too deep into matters rather than read the chart for what it is. By focusing on the swing highs and lows you can determine trend direction, or lack of. If you can8217t read the chart 8211 Stay Out You Don8217t Need Indicators to Make Profitable Trading Decisions One of the largest benefits of price action trading is the fact you don8217t need to worry about indicators to get your trade signals. You only need to concern yourself with one indicator, and thats price itself Introducing external variables like indicators to your chart template will in most cases work against you. You will be surprised how many time they actually get in the way of your trading, rather than doing any good. Some traders find the concept of trading without indicators impossible. Let me reassure you that its not, I do it everyday and the difference is night and day. Trading without indicators or other colorful chart tools is actually a much more powerful approach to the markets. Remember what I said before, 8220simple is better 8220. When you dumb it down 8211 Forex Indicators are basically mathematical algorithms that draw squiggly lines all over the price chart. Their function is to help traders analyse the market and assist in making trading decisions. All they really manage to achieve in the long run is to confuse amp frustrate traders 8211 you8217re most likely nodding your head agreeing with me here. When traders look at indicator data, they tend to come up with exotic analysis that is disconnected with what8217s really going on in the markets. Indicators are notorious for generating bad buysell signals, especially in rough market conditions. Eventually, the trader goes into 8216mental meltdown8217 and sadly burns up their trading account. Indicators hide the real price feed, obstructing what you should really be focusing on. Many traders believe there is an edge using indicators and other expensive third party analytic software. The truth is, there is no better edge that analyzing raw price movements. Another common 8216flaw8217 in indicator design is their output lag. Indicators are renowned for their slow responsiveness to price changes. Its not uncommon for an indicator to signal you to 8216buy the market8217 after the entire rally is already over. A price based signal would have likely positioned you in at the bottom of the move. I see this happen everyday. That8217s why with price action trading we focus on the 8216now8217 data, rather than having to rely on lagging indicator data. Here is an example of a typical indicator based trading strategy chart template. Just for the record 8211 this isn8217t a chart template we conjured just to make indicators look bad. This chart is actually a default template in the most common charting tool used by traders today, Metatrader 4. The template name was actually called popular. As you can see it8217s loaded with the most commonly used indicators RSI, Stochastic and the MACD. This chart is just too 8216busy8217 and would be a frustrating environment to trade in. Have a look at the chart template shown below. It is the template that we use every day in the markets. Thats much better Straight away, you can see the difference in clarity. When the indicators are removed it8217s much easier to interpret what8217s really going on with the market. This is the exact chart template that we use in our everyday trading. The next step would be to mark some support and resistance lines on the chart, and we are good to go. You may have noticed 2 moving averages on my chart template. These are the 10 and 20 exponential moving averages used to map out the mean value of price. The mean value area is where the market generally finds value. The market considers this to be a balanced, or 8216fair price8217 for the currency. Mean value analysis is used heavily with our Forex trading system and it works very synergistically with price action trading. The benefits are clear. Its simplified, easy on the eye, and brings out the clarity in the market. With this arrangement, we can really start to build a good foundation where low risk, high probability trading opportunities are easily identified. Most newbie traders pack their charts full of indicators thinking it gives them some sort of unfair advantage. Indicators are designed to be helpful, but only seem to cause confusion, frustration and anger with the traders vs the markets. You will find much more serenity and clarity with a naked price chart and be able to trade in a more stress free manner. Seriously, Forget the News Many people believe that its key to know whats going on economically, and keep on top of world events to be able to make sound trading decisions. The thing is there is macro economics, and micro economics. Sure, central bank policies are the catalyst for large trends and powerful market moves, but you can8217t just trade central bank news announcements, the volatility can destroy you. But traders sometimes get involved with the micro economics releases 8211 which are things you would find on the news calendar at Forex Factory. Things like unemployment figures and interest rate decisions, can produce shortmedium term volatile swings in the market. Price can dramatically in a matter of seconds causing extreme widening of spreads (the commissions you pay) to unrealistic levels. The bottom line is news calendar event trading is unpredictable. During during an economic data release, a trade order is very hard to execute, and can be expensive if timed wrong. Traders who engage in this type of trading put themselves through negative psychological pressure and high levels of stress. We8217ve actually come across people who try to scalp the Non-Farm Payroll . NFP is on of the largest economic data releases, which causes disturbing amounts of volatility in the markets. Scalping NFP is very reckless, and a quick way to Forex trading failure . You don8217t need to be 8216in tune8217 with the news to trade profitably. This is actually one of the key benefits of technical analysis and why traders make to the switch to price action trading. Most people would prefer to trade technical data from the charts to make confident trading decisions instead of stressing out over what the news is going to do. We actually don8217t even look at the economic calendar 8211 if we do its just out of curiosity. The news can be a catalyst for large price movements. The beautiful thing is, there is generally a candlestick signal that will get you into a trade before the news event. Sometimes the news can work against you, and trigger your stop loss, but thats something out of your control. It could just as easily go the other way, and the news could explode your trade into heavenly profits. As part of the simple trading mantra and philosophy, its better to just ignore the micro news releases. Some traders like to understand the larger fundamentals of the market, like the stance of central banks and the policies they are implementing. This can be helpful in forecasting longer term trends, but it8217s always a technical signal on the chart you should end up basing your trading decision from. Some traders follow and trade the news with suicidal levels of risk. Unseasoned traders chase the Forex news calendar events generally for an adrenaline rush 8211 but it8217s not a viable way to trade long term. Long term fundamentals are great to keep on top of, but generally there will always be a price action signal to usher you into a trade. Candlestick Signals are Easy to Identify There is a mountain of candlestick patterns out there appearing on the charts all the time, but we8217ve gone and isolated the price patterns that yield the best results. Some are derived from our own original observations. We use these candlestick patterns to accurately anticipate future price movements like the rejection candle, and the outside candle 8211 two powerful reversal signals. Above are some bullish rejection candles which are simple straight forward bullish reversal signals. By lining up strong looking rejection candle with important areas on the chart you can build a high probability, low risk, high reward trade setup. Here is an example of one of our trade setups, the Breakout Trap amp Reverse trade . The breakout trap and reverse trade is a two candle setup. The second candle is the 8216trigger candle8217. This particular example is a bearish breakout trap and reverse trade setup. The basic principle of the trade works like this. First the market breaks out above the previous candle highs. The initial breakout encourages buyers to jump on board with the bullish momentum. However, this is not the true intent of the market. The breakout collapses back in on itself and the sellers take full control. There is less resistance for the market to move lower due to the fact all the buyers just got washed out in the initial bullish breakout trap. Price likes to follow the path of least resistance. Aggressive selling can cause explosive price movements on the chart. The trigger to go short is when price breaks out the other side of the previous candles range. The explosive nature of the breakout trap and reverse signal makes this one of our favorite price action trading setups. Here is an example of a bearish breakout trap and reverse trade triggered on a live chart The chart above shows a bearish breakout trap and reverse trade setup on the AUDUSD daily chart. Notice the explosive price movements from this setup This is how we can generate high return, from low initial risk. This concept is the backbone of all our money management plans. We like to aim for at least 2-3 times what we risk on the trade. We call this concept 8216positive geared money management8217, and it marries well price action trading system. Technical 8216simple chart8217 signals are really easy to identify. You don8217t have to sift through complicated charts or grind mathematical data, just simply 8216read8217 the chart. Let the candlesticks communicate to you where the market wants to go. By lining up price candlestick signals with important technical areas on the chart 8211 you can build high probability, low risk, high ROI trades that continuously keep repeating themselves on the chart over and over again. Are you Ready To Make Your Trading Easier, Less Stressful amp More Profitable As you can see trading with price action is a versatile and logical way to approach trading. In our opinion, its the most consistently profitable method used by traders in the markets today. Most trading systems have an expiration date. They are generally tailored to the market conditions at the time making them obsolete when market conditions change. You8217ve got to remember that markets are dynamic in nature, they8217re always changing and adapting. Robotic, or rigid strategies which break when bent, they don8217t survive when the market changes. By learning the skill to read naked price charts 8211 you can interpret what the market is doing, where it is going, and use simple methodologies like we8217ve shown in this guide to keep your finger on the market8217s pulse, and start make confident trading decisions. We8217ve been using price action for many years, utilizing it mostly during strong trending conditions, ranging markets and even through market crashes with continued success. The benefits of are the reasons why we love it so much and will continue to passionately trade it 8211 so long as the markets are available to trade. If indicators are making your nose bleed, or you want to move away from the very stressful news trading scene 8211 and you8217re interested in learning more, you might be interested in becoming a War Room Trader . The war room contains our Forex course that was rated 1 and goes much deeper into the price action concepts we8217ve talking about in this guide. The war room also now comes with an indicator (I know that sounds ironic), but it is tool that monitors the charts for the candlestick patterns we use, and sends you mobile phone notifications when it finds a high quality pattern. To find out more, look at the Battle Station for Mt4 page. Check out the testimonials and feedback from traders after they learned how to trade with plain charts. I hope this article has been an eye opener for you, and made you realize there is a better way to go about your trading. If you enjoyed this article, please share using the buttons below. Cheers to your future trading success Did you enjoy this article It would mean a lot to me if you could share it Please also leave your thoughts in the comment section below Every time I get on one of these fundamental sites like marketpulse, I want to rip my eyes out, swallow them, then regurgitate. I hate Janet Yellen. I can8217t stand her. I can8217t even stand to look at her. Yet the whole stinkn8217 financial world hangs on her every word, as if the seas rise and fall with her every breath. I will stick to my charts with the pretty little green and red candles, thank you very much. I8217ll leave the fundamentals to the Warren Buffet-worshipers. Thanks for letting me vent. I always appreciate your comments. The only way to keep your finger on the market plus is by reading what the price action tells you. Stay away from those sites if they make you nauseous with your trading Hi,dale let me tell you your strategy is the best I always said to me that all this indicators only confuse traders and they got frustrated Iam with you I want to learn more from you thanks Immense food for thought. I use the 8EMA and 34EMA as confirmation indicators. Is that ok I also found that the further price moves away from these MAs, there is more chance of a reversal of the trend. FXRaj Thanks for sharing Mr Woods. I am in the midst of trying out your methods as it is aligned with my style of laziness. Lol. The only issues that I have currently is a) when to pull the trigger (still trying out your trigger mechanism) and b) still getting caught in the traps (as you said, the market move in waves, I am unsure whether I am in the trap or not), or is it maybe that my stop losses are too tight8230 hmm8230 but8230 great articles none the less. thanks again. Dale thanks for the feed on price action. I see a gartley pattern set up on the 1h time eurusd and a double bottom of the daily of the eurusd. Should i wait intill price hits the 1,272 retracement on the 1h time frame Thanks Dale8230 As a beginner I8217ve learned quite another Hi Dale I8217ve tried to follow price action trading before without any success. When a trend is established it is soon over. When a breakout fails it was a fake out. When a channel is broken it was a good opportunity, provided it wasn8217t a false break. Likewise when support or resistance holds it was expected, except when it8217s broken. When a particular candle stick pattern occurs then that is our entry even though there were many similar patterns on many charts and time frames that weren8217t successful. Any one can trade well in hindsight. What I need to know is what to do at the hard right edge (or not do ). I don8217t mean to be critical of you in any way, you are obviously a good chart reader and successful and patient trader, I8217m just relating my experiences. Any way I hope to learn a lot from your website as I follow along. By the way I like Renko charts and SMAs but I haven,t found a good Renko EA yet, all I8217ve see so far plot impossibly long wicks. Regards thanks for sharing 8230. even though i m looking for OHLC bars Hi you say you do not use indicators but you have a 1020 ema on the charts, is that not conflicting I would appreciate your comments thanks Peter Miller P.S. I do like your system of vanilla charts though and simple system. The EMAs are used as a reference point. Just like a supportresistance, or a trendline, except they are dynamic. They are not used for generating buy or sell signals like typical indicators.Welcome to My World of Forex Trading. Selamat datang pedagang ke blog trading Forex saya Nama saya Dale Woods, dan seperti Anda - Saya adalah trader ritel yang penuh gairah. Keistimewaan saya di pasaran adalah strategi pelonggaran perdagangan ayun menggunakan analisis tindakan harga, yang saya yakini sebagai pendekatan termudah dan paling menguntungkan dalam perdagangan teknis. Saya telah membangun waktu layar yang tidak sehat, didorong oleh obsesi saya untuk menguasai grafik. Di situs ini, saya berbagi wawasan dan rahasia yang telah saya pelajari selama 8 tahun di depan grafik - memberikan informasi berkualitas nyata untuk membantu Anda juga sukses sebagai pedagang eceran di rumah. Semoga sukses di tangga lagu :) Let8217s hadapi itu, saat Anda awalnya memuat MT4 dan membuka bagan pertama Anda 8211 warna bertema 8216green amp hitam8217 bertema dapat membuat Anda merasa ngeri. Kecuali dari hellip Meskipun Metatrader 4 sudah dilengkapi dengan standar 8216out dari indikator 824 kotak MT4 823 dan pengembang memiliki kemampuan untuk membuat indikator kustom mereka sendiri untuk tingkat kunci utama adalah bagian inti dari analisis teknis. Masalahnya adalah tekniknya bisa sangat membingungkan bagi pemula, karena menandainya pada grafik sangat subjektif. Hal itu bisa dilakukan oleh Heikin Ashi Candle Anatomy Asumsi Heikin Ashi Charts Bagaimana Membaca Soikin Ashi Candlesticks Peringatan Menggunakan Asik Heikin Cara Memproduksi Heikin Ashi Grafik Heikin Ashi hellip Dulu, analisis teknis dimasukkan ke dalam keranjang yang sama seperti astrologi, pembacaan telapak tangan dan kue keberuntungan 8211 tidak ada yang benar-benar berpikir ada manfaatnya untuk hellip Mari kita jujur, kebanyakan trader menyukai indikator 8211 selalu ada unsur Kegembiraan saat Anda menemukan alat berkilau baru untuk bermain-main dengan grafik Anda. Tapi, hampir setiap sistem trading berbasis teknik akan mengandalkan Anda pada broker forex profesional, memiliki kemampuan untuk benar menarik tingkat dukungan dan daya tahan pada harga Anda. Sistem perdagangan forex datang dalam berbagai kompleksitas. Ini sangat penting bagi seorang pedagang pemula untuk menemukan strategi 8216 dari jeratan jeratan internet. Hari ini kita akan menjadi hellip Forex Binary Options8230 tren terbaru dalam industri keuangan 8211 cara baru untuk menghasilkan uang dari pergerakan mata uang. Binary options are not to be mistaken for hellip How do you evaluate yourself as a Forex trader Or even as a person for that matter There is an epidemic of traders out there evaluating themselves in a hellip
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