Hi to all,
I have been studying this thread for a while, I have read the first 50 pages and have not found an answer to a question I have, can price action be used with Heiken Ashi candles or does it work better with the raw candles?
Regards
Steven
I think I have answered my own question, I put up both charts on my screen and watched the action and the raw candles although fronetic give clearer price action signals.
It [I]can[/I], Steven, but HA candles have far more applicability to closing trades than to opening them, in my opinion.
In simple terms, HA candles are a combination of a price-display and an indicator (indeed, some respected authors even say, in textbooks on the subject, that the terms “price action” and “HA candles” are mutually exclusive).
It does, in my opinion.
And even better with bars than with candles, I’d say: both reveal exactly the same information - the open, high, low and close - but bars have their visual emphasis on the highs and lows rather than on the opens and closes, and highs and lows are far more significant than opens and closes, for price action purposes. Highs and lows are objective and factual; opens and closes are subjective and user-defined; HA candles don’t really display opens.
Hi Lexys,
Thank you for your clear explanation, I find I can spot a PA setups easier with candles than with bars but I suppose once you get your eye in the same information is there or do you switch between the two?
Yes - exactly so. It depends what you’re most familiar with. (I use bars only, myself, and I think they’re a better way to [I]learn[/I], because they visiaully emphasise the more important and significant components). Candlesticks, of course, are more fashionable.
Depends on your interpretation of what price action is. People believe a pin bar is priced action when in fact it’s nothing more than a candlestick pattern. Same as all candlestick patterns. Price action interpretation can be found within heiken ashi candles namely trend, size of the candles, number of candles, momentum behind the candles and even patterns like inside bars, pin bars, and engulfing bars.
-NEW SIGNAL-
Type : Pending Order
Date : 16.6.2016
Time : 23:10 GMT+1
Technical : Daily pinbar on strong resistance/ supply zone with atr about 400 pips. Macd strong divergence. Rsi get a momentum. H1 strong uptrend trend line broken. Pinbar on RN- round number 1300.
Pair : XAUUSD
Timeframe : DAILY
Trade setup : SHORT
Entry at : 1275.75
Take profit 1 : 1.200 ( 760 pips )
Take profit 2 : /
Take profit 3 : /
Stop loss : 1317.52 ( 400 pips )
Risk reward :
TP1 – 1.9:1
Our risk :
This was a great thread about identifying high momentum reversals at key horizontal levels and then riding the trend, a very good strategy and intro to PA, but I want to know more. Does anybody know of a good next step to my learning?
Practice. Spend time with charts. Trade in a demo account. Trade with micro lots. Just trade. Try out these methods and make it work for yourself. There is no substitute for experience.
poopoopotato what a long name , you are right " there is no substitute for experience ".
FxcInvesting
I am not sure if it is just me being a newbie but I cannot see what it is you are trying to show, the image is so dark there is no point in putting up because I cannot learn anything from it.
Regards
Steven
Well … I can just about make out a pin bar at the top, there, and there’s certainly some kind of MACD divergence (albeit that that means nothing, in itself, without being able to see the settings or even what the instrument is!). But this is an everyday occurrence, in this forum, Steven: when you see posts like that made by people with a corporate username, and a company logo as their avatar, their motivation for posting isn’t typically a helpful one, anyway. The forum’s full of this kind of stuff, simply because this is one of the few forums that allows such members to get posts on the board for some kind of vaguely-defined promotional/PR purposes, without anyone caring that they’re a waste of space, contributing nothing.
We’ve hit T1 for 1,009 pips on my GBPAUD Weekly Forex Naked Price Action Bend Trade (June 6, 2016)
S/L: 2.0540 Risk 860 Pips
Sell: 1.9680
T1: 1.8671 Hit target for 1,009 pips (June 24, 2016)
I entered this trade with the goal of taking advantage of the BREXIT and it worked out perfectly.
Great job , sometimes people do hit a home run, now the week-nd is here and you can enjoy the fruit of your labor.
do u use a stop loss?
2016–08–09 Market Watch: Indian Interest, German and British Balance of Trade
5:30AM GMT: The RBI (Reserve Bank of India) will meet to set its monetary policy. The bank meets every 2 months, with the last meeting on June 7th. The RBI’s official rate is the 1 day repo rate, which is essentially the rate for a collateralized loan. The bank last reduced rate to 6.5% in April, and we expect the RBI to keep rate rate stable today. However, if the interest rate were to decrease, the INR will depreciate.
6:00AM GMT: The Federal Statistics office of Germany will report on Balance of Trade. This figure is reported on a monthly basis, and today’s data will be that of June. The Balance of Trade is a flow statistic that measure how much export exceed import. The market expects trade balance to slightly drop from a surplus of 21 billion EUR last month to 20.8 billion. If this statistic exceeds expectation, the EUR will appreciate.
8:30AM GMT: The British Office for National Statistic will also report on Balance of Trade. This figure is reported on a monthly basis, and today’s data will be that of June. The Balance of Trade is a flow statistic that measure how much export exceed import. A negative value indicate a trade deficit, whereby import exceed export. The market expects trade balance to drop from a deficit of -2.26 billion to -2.7B. If this statistic exceeds expectation (less negative), the GBP will appreciate.
Hello Everyone! Found a pretty nice trade today and decided to share it here where it all began for me. Pls do give your insights on it as it helps not only me but everyone here understand price action better 
My point for taking this trade is that I see the price action trending sideways at the moment. The pin bar is legit being inside the previous bar, the body is 3 times or more of the tail and a nice nose sticking out confirming to me its another legit type of pin bar I would trade. Most important of all, the current candle has broken the low of the pin bar so here it goes.
I just looked at my charts. Looks like strength in GBP compared to EUR. So maybe you got some bearish confirmation. I’d be a little carefull, right now Eur/Usd is showing some strength.
