The chart arrangement begins with price action by identifying the upward trend blue line which also serves as a support level in this instance. The addition of the moving average MA further confirms the short-term trend direction with the forex price being above the 20, 50 and moving average lines. Timing the entry would require keeping an eye on the stochastic as well as the price movement as it approaches the support blue line. Once price reaches this level, traders would look to enter into a long position with appropriate risk management.

Price action is a broad technical analysis technique that incorporates various trading strategies which traders apply to analyze the markets. Technical indicators work well in conjunction with price action to allow traders to formulate more accurate trade decisions. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.

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Please try again. Subscribe to Our Newsletter. Rates Live Chart Asset classes. Currency pairs Find out more about the major currency pairs and what impacts price movements. Commodities Our guide explores the most traded commodities worldwide and how to start trading them. What is price action. Is the winning formula in statistics? Is it that if for example……. Price action is reading what the markets are doing objectively, and then deciding when to enter, exit and manage your trades based on the market price action. Well then you also teading the candlestick bible it will guide you more about false breakouts and then combine it with Raynes knowledge… boom.

Hey bro.. Holy crap! First of all there is no Holy Grail of trading or any magic EA that will help you turn your micro account in something huge overnight. Sorry if is dissapointing but is the truth. U wount get rich in one day so accept the losses,take a break and try again the next day. Second of all a high leverage in your case in deed will help you to open bigger positions with lower capital but u need to think that a big position overleveraged can bring reealy quick huge losses or even wipe out your account.

Price Action as Your First Indicator

If you are already struggeling the best thing for you is to save more money and start with lets say at least …. A good strategy is kinda like this: U need to learn the basics,build up discipline,add experience and the last thing added is leverage. The best thing to do for you is to start practice on a demo account,practice until you will build up your discipline ,a strategy that suits your trading style,test whatever strategy you think it might work and once you found it then adjust it better and better and better.

By then u will be disciplined enough,your greed aversion will fade leverage wount be tempting anymore and once you had at least 6 profitable months you can try on live account. This is like having a better or good life strategy to trade the market and not looking at the environmental factors and economic factors all inclusive fundamentals and technical indicators. I agree with you that it make more sense to use Price Action Trading to trade so as not to fall into the trap set by institution traders. We read their actions rather than listen to what they say.

Another great post about trading Price action. I agree that following too many lagging indicators, fundamental news and other distractions can cloud our trading judgment. Price action could be the better way to trading, at this point nothing has been proven, it is a claim just like number of other programs that are available out there in the market. The systems and strategies that you have bought previously… did you execute at least trades on it consistently? Price action trading is best. In fact also known as naked trading. Most indicators are lagging, some indicate bearish signal while at the same time others are indicating bullish signal.

So which is which. As for EAs the least said about them the better. I will forever trade price action and keep learning price action trading. Keep up the good work Rayner. As a member of TFMP. I believe this is correct. I stick to my rules, but I can drift sometimes. You have a way of saying things that bring me back on track. That is the teacher in you.

All the best. Doc es aqui….. I have been looking at different strategies and reading your post I believe price action is my style of trading. Would love to learn about it alot as I have lost alot of capital but am willing to keep moving forward in the right direction for myself to become a great trader. You have been doing great job.

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I burnt accounts trading news and found your price action post as a great reminder and. I also love to learn price action strategy since i am a newbie in trading. Can you help me where and hot to start.

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You can start by reading the price action guide. You can get it from the main page of my website. I am confused in that you are a fan of moving average and most of your videos have MAs on them. So what are you really, prove action, indicator of a hybrid? A big difference. Dear RT, I am from India and part-time trader, I am a follower of you and watching all your videos, I am a small trader but in my initial stage made a lot of losses due to wrong tips providers.

Thank you. Price action is not just a row of candlestick bars with certain formulas, but shows the overall movement of the market driven by the sentiment of the market participants. The longer we observe the movement of the market or the higher time frame trading , then we will further understand market sentiment. The point is not just by looking at candlestick bar patterns. Now you are turning to the trading system that attracts me alot. I have recently been following Price Action at Support and Resistance. It has opened a new world of opportunities in the trading arena for me. Your e-book on Price Action was an eye-opener for me too.

I will be looking ahead with keen interest to learn your trading strategy. Thanks Theo for your support in this journey. I usually wait for the stocharstic to be oversold on a daily chart with price above the ema.