Thread: Price action trading - Trade like the pros!

!!! New and upgraded First Post!!!
Hello and welcome to the ribbon. We will be studying how to perform Technical Analysis and trade the markets. I have recapped the info needed in Youtube videos, since we will be highlighting our TA on 4 columns, which can be: Market Structure, Essential Support/Resistance levels and Supply/Demand zones, Liquidity Stops, and eventually Fibonacci.

You may discover live exchange illustrations, WMA videos and more in my Youtube channel - http://www.youtube.com/1337WD
I'm also thinking about activating Twitter for transactions taken and analysis therefore this thread stays eduional - https://twitter.com/wndrfldays123

The four Pillars of Technical Analysis:

I. Market Structure

Inserted Video

II. KSR - Sz/Dz

Inserted Video

III. Liquidity Stops

Inserted Video

IV. Fibonacci

Inserted Video

Recap and mechanics; Price Action Trading - Trade like the pros!

(Coming soon)


************************************************** ************************************************** *******************

below are some important posts that might help understand the concepts.Accumulation explained Supply (and need ) explained The area within the area HTF analysis Timing and sessions https://www.forexforum.co.za/attachm...2123644909.ex4
https://www.forexforum.co.za/attachm...1762100992.ex4
https://www.forexforum.co.za/attachm...3462139536.ex4
https://www.forexforum.co.za/attachm...2071433255.mq4
https://www.forexforum.co.za/attachm...6466378715.ex4
https://www.forexforum.co.za/attachm...7710417693.mq4
https://www.forexforum.co.za/attachm...9948464681.ex4
https://www.forexforum.co.za/attachm...0912974052.mq4

The Dollar

The dollar index is our barometer for risk, so to speak.
As I said, if the dollar is poised to rally, we're at a Risk Off! Type of environment (pretty fundamental stuff). This should result in declines over EURUSD and GBPUSD.
When the dollar is poised to diminish, it's Risk On! And we could buy away euro cable.

This means is that we will need to begin our analysis on a dollar index chart. Very few platforms have that, I'm using a demo account on a broker to get nothing but the USDX charts. I am not sure whether I'm permitted to refer people to it on here, so I will allow you to google it. USDx charts can be seen on quite a few web-based platforms also, I just find it handier that way.

How do we tell which direction the dollar is headed? By performing some analysis on a daily, H4 and hourly chart, of course! The correlation between EURUSD and USDx is your most powerful, since the amounts for the part from the basket the index is made up of, but it goes for cable and other dollar predicated pairs just as well.

What would we look for? We look to spot KSR amounts, sup/dem areas along with the type of market environment the dollar is currently in.

I also utilize the dollar index to help me tell how far price may achieve from the day, but that's a bit more complied, so I'll leave it with just a mention for now.

I will stop here for today, leaving off with a trade illustration from this week; a 50 pip winner from monday. The stop was originally a little 15 pip. This is a huge benefit to this system, we look for the entrances that are exact that stops are not any situation. My stop size usually varies, but is never greater than 20 pips. The returns could be great.

Edit: there is a small typo on the second text in the picture, it is supposed to state 1.2920 has been marked as an important level, not 1.2929...

That was very enlightening for new traders enjoy us. Thank you so much for providing us these information, free of charge. Be blessed

Intriguing concept cant wait to understand how to use index to exchange. Thank you WDays

Wonderful thread WDays,
sorry but I have to ask: Why is this anyway associated with ICT?

Originally Posted by ;

Nice thread, sorry but I must ask: Is this anyhow related to ICT?

As much as it is based on some of his concepts. I've accommodated his stuff to match myself as a trader. I'm Very deeply influenced by ICT, Though I Don't personally know him or have been in contact with him, As I said

Basically we're taking a look at nude chart trading, but rather than using classic price action patterns, candlestick patterns, interior pubs, engulfing patterns and all that crap that is employed only when it does, we're highlighting our trades on predictive analysis. In contrast to popular belief, you predict exactly what price will do.

The idea is to demonstrate that there are signs of something being awakened, and things happen for a reason on our charts. It is monday, so that I am looking in a daily USDx chart.

Let us see if we can tell anything about these emphasized lows as they relate to prior market activity...?

Hello.
I also use what I learned from ICT's videos in my trading.
I used to follow him on Youtube however he is now doing mentoring and not posting any more. Such a pity!

It's obvious, from the last article, that some will not be reading the articles or the underlying notions but will just want some-one to provide signals.

I trade the GBP/JPY, EUR/JPY along with the USD/JPY in Addition to the one you mentioned.

Regards.

Originally Posted by ;

Hello. I use what I heard in my trading from ICT's videos. I used to accompany him however he is currently doing mentoring and not posting. Such a pity! It's obvious, from the last post, although some won't be reading the articles or the concepts but will need some-one to provide signs. I exchange the GBP/JPY, EUR/JPY as well as the USD/JPY as well as. Regards.

That's why I am trying to format this thread more as a written guide instead of giving away my own interpretation.
ICT's material is gold, would be a shame if it all went to waste. I don't feel guilty when it comes to what I've achieved by opening this thread, since he used to encourage people who heard from him to return to the general public and because I have no intention of going commercial with this material, my conscious is blank