Hey everyone, my name is Dale and I’ve never really gotten deeply involved in forums or web-based discussion.
You may know me as Graham - which is my middle name I was using before, but decided to be a grown up and use my first name.
My trading journey started here at babypips - it’s a great, welcoming place for the Forex newbie to get their bearings. I’ve met some interesting people here, some which I am still friends with - the others were just a circus act we all used to enjoy watching.
Thought it was time to give back to the trading community by sharing some of my analysis for those who are passionate and want to learn.
I trade using a combination of price action & swing trading methodologies, leveraging it all with positive geared money management.
Basically, I ‘read’ a price chart and make my trading decisions based off what the candlesticks are communicating. I do this using higher time frames like the daily and weekly charts, where the data, signals and patterns are much more reliable.
I know a lot of you probably are very over enthusiastic about learning as much as you can about trading to try find a statistical edge that works for you - but be careful of “analysis paralysis”, which is a fancy term for information overload.
This often occurs when traders overload their charts with so many indicators that make the price chart look like a nuclear control panel…
If indicators and other chart ‘aids’ are frustrating you, then you’ve stopped by the right place - here I will talk about reading longer term time frames to make accurate forecasts for future price movements.
A lot traders ask about the news. Fundamental news like major bank policy changes are obviously major drivers of market trends. But don’t be one of those guys who gets addicted to volatility created off the economic calendar.
You will never be quick enough to react to data releases that come from unemployment data, GDP updates etc.
By the time you click your buy and sell button, the market will have made it’s move and you will either get re-quoted, or a really sh*tty entry price - so I don’t really pay much attention to the news calendar.
You will actually find that a lot of price action signals will align up to the pending news volatility anyway, and give you a frame work to build a position before the news is released.
Although price action trading can be applied can be applied to the lower time frames easily - but I can tell you nothing ever good comes out of it.
If you’ve been getting slaughtered on the lower time frames, and getting butchered by using high frequency trading strategies, try move to the higher time frames where price charts have more clarity, are less ‘choppy’, and just all round paints a better, clearer picture to what the market is doing.
The daily chart is my number one base of operations for my market analysis…
Some of you might be hesitant and think that higher time frames like this might be boring but they aren’t - It’s actually less stressful, you place one trade let it evolve and by using positive geared risk/reward ratios in your money management, you can easily get a return of 6%+ on a higher time frame trade.
A lot of scalpers and day traders are out there flogging the charts with market orders trying to achieve the same results - now that’s stress.
Don’t view the market like a pigeon would a crowded area, hoping to pickup food scraps and breadcrumbs.
I generally like to stick with using end of day trading strategies because of the many advantages it brings into your trading, and your life.
I don’t want this thread to be viewed as some sort of ‘signal service’ - if I wanted to be a signal provider I would have done so a long time ago. In fact, have tried it on a smaller scale and it’s not for me.
Managing other peoples money, and being responsible for it is a whole level higher than the challenges of trading profitably with your own money.
A lot of signal providers have a low ‘shelf life’, as the pressure and psychological strain eventually breaks them. You see this all the time on sites like zulutrade, where someone will reach the top - do well for a while then suffer a massive psychological meltdown and lose months of gains in days.
So in this thread I am happy to share with you my swing trading/price action analysis and talk about some of the setups that I use to anticipate nice moves in the market.
Don’t trade anything you don’t understand please. You’ve got to be accountable for your own account - so if you pull the trigger on something and it doesn’t work out, then you bare the responsibility.
Now lets get one with it 
), price is nice and close to the mean value, price is resting under that nice level + just under the trendline. So I am going to be looking to short, now there is an inside bar setup, it has a nice bearish close to it and a bit of an upper tail or wick.