@justshell Great, if you think you can better predict where the price will go by looking at past Support & Resistance levels, just stick to what you are best at.
Just a reminder, remember that in reality, every line is a Support line, and every line can be a Resistance line, too.
Hiā¦all
Can you please explain how you trade this chart?
I assume, if I have missed first LH trade to enter, where can I enter into the existing downtrend? After making LL price made HH, then LHā¦I thought to enter (with confusion I didnāt make entry) after breaking LH (I have marked with black line). Am I right to reading the chart? please clarify. So much confusion, because after LL price made HHā¦my assumption is price break the previous swing high I think it will go up. Then it make LH and doomed.
My novice question is : In a downtrend, price making LLs and then it made HHā¦then a LH printed. In this case, when the LH broken to the downside I may enter into the existing downtrend. Is it correct way to enter?
Thanks
thanks, its working for me. And I look at higher time frames mainly
I am still confused. Any simpler way to explain hehe 
Hey everyone
Iāve spent many hours researching forex trading for a while now and I feel I have a decent understanding on market structure, price patterns, candlestick patterns and the commonly used indicators such as the moving average, stochastics, RSI, ADX etc. However, Iām struggling to use the information to help me find high probability setups to build a strategy that I can go and backtest to work out whether they would be worth adding to a trading plan that I can test out on a demo account.
Each time I go to look at a chart (Iām currently looking at EUR/USD as I want to focus on one currency pair at a time to fully understand how each market moves) I donāt really know where to begin. I understand the first thing a trader needs to understand is what sort of market they are trading (trending, ranging) but I donāt really know where to go from there.
If you got any tips/information that could help me out I would greatly appreciate it.
Read about TA and find 1-2 good experienced PRO traders to follow, I know its tough to find as most are signal sellers and marketeersā¦
Thank you for your reply. I have been reading through these forums on here to sort of work out the analysis traders are doing before entering a trade and seeing how it goes for them. I find its valuable info as ive found out a few things from other traders experience with the markets that I cant imagine are in books/courses.
And going back to your comment, I do like the idea of following a pro/experienced trader but, like you mentioned, thereās a lot of scammers and people who are just after your money and as a sort of beginner/newbie to forex its harder for me to know who is telling me the good stuff and whoās making me believe rubbish.
If you or anyone else have any suggestions on someone reliable and trustworthy to follow I would appreciate it massively.
best of luck with your trades!
Its easy, just ask them to prove they can be profitable in fx trade acc, even in demo, most of them will back outā¦showing whatever excuse! You cannot be a mentor and cannot even have one profitable accountā¦simple logic, its not by luck my clients follow me, I trade professionally for more than 20yrs in various banks, now retired to trade for my firm 
Good Evening all, i would just like to ask for a little assistance on pip Value of GBP/JPY .
How much did the pip value change if you take a short position on GBP/JPY where the price is 135.241 and moves until 135.100. Please any assistance will be appreciated.
womoruyi
Do a search on the internet for āprice actionā. I have found several books that can be ordered in digital format. I just downloaded an article on the topic, but just be wary that the companies might use the information as a marketing tool to get you to sign up for their product. If you get the information and are cautious about the way it is being delivered you can get your answer! Hope this helps even though it is not specific!
Womoruyi, stop everything that you are doing and start to do SERIAUSLY the Babypips Course. I know is difficult and sometimes boring to think that you need to do all that stuffā¦ but trust me, is the best thing that a rookie can do !!
R_Couto26
I agree with you 100%! Without the course I would be wandering in the Forex market without direction!
BabyPips gave me the basis to be successful at trading! You have to spend time, do your own research and have patience in following the Forex market. I am not jumping the gun, but so far (thanks to BabyPips) my trades have all been winners! I am not saying this will go on forever, but I will not use live money until I am totally prepared (no matter how long it takes) Good luck with your trading and I hope your trades are winners as well!
Please sir can I get some books name and sources from you that can really help me understand price action better. Thank you
sammytochi,
I would be happy to assist you on this. How I got all the material about Forex was to do a search for free pdfs on the topic of Forex. A lot of the sources want you to purchase their programs, but you can download their free ebooks and ignore the hype about purchasing their products. There is a web site called āInternet Archiveā which has references to hundreds of trading books and other material. It is like a library. You can borrow their material for a certain number of days and then it must be returned. If you check the Adobe web site they have a product which allows you to read books in a pdf format. It is called Adobe Digital Edition 4.5. You have to sign up to be able to use it. Another source of information is Amazon. They have a product called āKindleā. You can download the PC compatible free Kindle, which allows you to read their free ebooks. If you sign up for Kindle Unlimited, you are allowed a 30 day free trial. There is no obligation, and you can cancel within the 30 day period. There are books worth hundreds of dollars that you can read for free! Once you cancel you still can download their free ebooks. You just have to search for them on the Amazon web site. I canāt give you specific titles, but the information that I just mentioned should help you get started. If there is anything else I can help you with please let me know! Good luck with finding the information you are seeking!
Price action generally refers to the up and down movement of a securityās price when it is plotted over time. Different looks can be applied to a chart to make trends in price action more obvious. Technical analysis formations and chart patterns are derived from price action.
Please can you refer some of Bulkowski books. Iām a newbie. Want to build a strategy using price action
Bam!!!
The simplest explanation of price action is : changes in price. price goes up, price goes down. Whatever price is doing, that is the price action.