Stochastic oscillator: Well this is really funny thing. When I start with trading I use lots of indicators and when I start with clear charts it was quite scary for me. On the chart where no clues. It is like: “You have a chart so start trading” and I said “What? I have no idea what to do!!! I want to go home. Help me!” Well it is maybe little bit dramatic but I think that you understand what I mean.
My friend uses plain forex charts and there is simple moving average 50. He doesn’t use it to determine trend, doesn’t use it as S/R line … in his analysis SMA50 has absolutely no significance. And when I asked him why he uses moving average on his chart when he doesn’t need it in his analysis he told me that this moving average is his place of serenity in stormy ocean. Understand?
I use stochastic because I like how it looks. It is really easy indicator to use. Sell if it is in overbought area and buy in oversold area. I don’t use divergences, stochastic patterns or something like this. Stochastic is my psychological helper. I almost always trade PA signal on retracement and stochastic almost always supports my trade and that is all.
Stochastic is my friend who support me in my trading ideas and tell me "Yeah, you are right. That is great idea. Come on, why do you doubt? Your analysis is great when I agree with it. Look at me! I agree with you … really.“
Do you know what I mean? Even if your analysis is bad (and you don’t know it) there is still chance that stochastic oscillator helps you … buying in oversold area isn’t bad idea at all. So that is all. I never trade alone. I trade with my friend stochastic oscillator. 
How I wrote before … psychology is the most important thing in trading. If you have favorite indicator use it not as basic component but as your helper who is your place of serenity in stormy ocean. 
If you loose your trade than you can say " Ok, stochastic was wrong same as I”
Some possible trades for this week … I have analysis of 28 pairs but don’t want to post all of them, I don’t want to be signal provider but if you want post your own analysis we can talk about them (CADCHF, GBPCAD, NZDCAD, NZDCHF)
GBPUSD 4H chart … PB reversal (not a big fan of this trade - strong move up on 1D chart) maybe better is wait for pullback and go long if PA signal on 4H or 1H chart you can still get R:R 1:3-4-5 which is great, if price break through 1.7000 we should buy on retracement to this level
- I usually don’t trade on monday before New York open … there can be lots of pending orders which can move with price
Just my idea
AUDNZD still believe that pair can go north
Hi,
sorry for a long time without posting charts. In fact I read some threads especially about PA on this site and I decide to write some maybe little bit controversial posts because I think that people are maybe too much gullible. So let’s start. This is my view and you can be sure that I don’t give you a ban if you wrote what you mean about it. I don’t say that what I write is true but it is good to se things in different points of view. I want to write this because I read jadd’s posts in Jonathon’s thread and I agree with Jadd in most points. So lets start … it will be fun … please start to talk with me ;).
Price Action
Well I have no idea where this type of trading start (Japan?) but it is obvious that it is long time ago. All this information are free and you can find them on net … ALL INFORMATION!!!
All books, courses and websites about price action trading are only copies of something much older. So that is first what I want to say: buying courses where your mentor tells you same things which you can find on net is … sorry but it is stupid. So that is first thing which reduce the credibility of this mentors. Sorry but I don’t understand their philosophy … if they are so profitable (that is thing which they never prove) why they sell courses. If I asked them they told me that it is because they spend lot of time to build this courses and their website. Well that is true but then there is logical question. Why they do this websites and courses? They don’t do it because of money … they are profitable forex traders. They don’t do it because they are kind … they want money for it. Sorry I don’t know. What is the point???
So why? 100$ means nothing for them. Look if I will earn 1 million dollars yearly on forex then I will give you free courses and I don’t want 100$ for it. I can make great courses about trading … I will read few books about it and I will give you lot of information but that all doesn’t mean that I am profitable trader. If you don’t have an evidence that you are profitable it is really colossal audacity trying to sell your courses. Maybe only in my eyes. So if you want I sell my Price Action courses!!! Only 50$!!! I am just kidding
Look that you know how car works doesn’t mean that you know how to drive it or build it. That is all what I want to say.
To be more critical … brokers statistic says that there is around 30-35% profitable traders and rest are losing traders. On this site and on whole net is maybe 5% profitable traders. That is reality. You don’t need to visit this type of site if you are profitable and if you are losing trader … well you try everything. It is quite strange world … losing traders pay losing traders for their advice.
Sorry but I must say about all traders that they are losing if they don’t prove opposite. Statistically if I say that you are losing trader I am right in 65%. If you read this post I am right in 80-90%. So why think that mentor is different??? He doesn’t have university in trading his title is not mentor … he says that he is mentor that is all.
In this post I only want to show you that people should be suspicious. How said one famous trader: “I never buy a book or course about trading. I want to lose my money by myself.” Well in some ways it is true.
This is maybe too critical but I miss there someone who write what he think. And if there is someone who write what he think he gets a ban. Well it is really dangerous area … write your opinions … Jesus who can do this??? Only brave man So I write what I think to my thread. You can react. I promise that I don’t give you a ban. …maybe 
Complex price action…lol
make it simple price action…
hahah
Sorry don’t know what you mean?
Firstly I want to discuss about price action analysis but then I realise that no one want to discuss … so I start to write what I want. I agree that name of this thread is completely out. But I think that I can’t change it … so what to do? Probably nothing … on the other side this is first or second reaction so I am very happy