I would like to dedicate this thread to Price Action trading. I would like to share how I use price action to trade forex and get some different ideas from other traders as well. While price action trading is rather “basic”, it has been very effective for me and I am looking to see what other people’s thoughts on it are and maybe if we can exchange insights. trader2000
This chart is of a trade I actually took recently in the CADJPY. The setup was a very well formed pin bar rejection candle off the resistance level near 90.00. The reason I took the trade was because the pin bar was well defined and at a very confluent level. Let me know if you have any questions. - trader2000
Looks “text book” to me…nice 
How about charts of what these setups looklike “at-that-moment” instead of much later when it really gets that text book look…? 
Nice trade. Did you take partial profits at the FTA (first trouble area) and trail the rest or was it all 1 position?
I would have passed on that pin due to all the traffic on the left and it not being at a swing high, but glad it worked out the way it did
price action trading is rather “basic”
Taken me almost 7 months just to start understanding it!
Nice trade. Very similar to how I would take it except I would be a bit more conservative and trade on the close of the candle. My stop would have been above pinbar. Where did you place your stop?
Hi trader2000, i am a priceaction trader aswell. look forward to discussing this subject in the coming weeks.
Im currently reading steve nison at the mo to get a deeper understanding of price action. Hopefully this thread will turn into something good…
I would join in the ride too.
Nice Setup. However, I would love to spot it AS IT happens. Hindsight analysis gives us confidence though. However, it requires real skill to spot it at the time it mattered most. Look for “Price Action Hero” Thread by MasterGunner99.
Regards,
Muthu.
Chennai.
India.
hi trader 2000,
how much pips was the trailing stop? thanks
The trailing stop method that I use is never a “set” amount of pips, I wait for the market to make a correction against my position and then once price begins to move back in my favor (IF it does), than I simply trail my stop down to just above the high/low of the candle at the peak/trough of the correction…
Hey everyone,
Small pin bar setup formed today off the top of resistance near 136.00 in the GBPJPY daily chart. I figured I would trade this one “live” because there have been some requests in here to show trade setups “before” the fact. So here you all go:
Sell Entry: 134.60
Buy Stop Loss: 135.60
Buy Limit Target: 131.60
That’s strange, I don’t see a pin bar on the GRBJPY daily…
Brokers can vary in price a lot, sometimes 50 pips or more difference! TF also matters 
GBPJPY trade update: stopped out for a loss of 100 pips. Time to wait for the next setup. I agree that the pin bar was definitely not the best formation, hindsight is 20 20 though.
Sorry to hear it didn’t work out - hope you didn’t lose too much.
I would have passed on that due to traffic, first trouble area looks not too far away at around 133.85, then about 132.00. I would have moved the stop to breakeven at 133.85 or just not taken it at all due to all the consolidation traffic on the left. I only take PINs at extreme swings with lots of space these days.
Still - another day another dollar as they say 
Thanks for your insight, I like your take on price action…
I agree this wasn’t the best setup and should have been skipped, but it could have been a successful trade anyway. The problem is that you didn’t protect your stoploss… You put it on the same side of S&R that the price was.
By definition price is not as likely to rise above the S&R area, so placing your stop above it would have been the safer choice.
I appreciate your comments, however I always place my stoploss just beyond the high or low if I am trading a pin bar setup. You are right that if I had put it further away it would have had a lower chance of getting hit, however then I would have had to trade a smaller position size in order to maintain the same risk.
Anyways, for me, the setup is invalid once price breaks the high or low of the pin bar setup.
A good tool for price action based trading in my eyes is the ichimoku cloud. I now it looks intimidating at first but don’t be freaked out by it’s complexity. Take the time to learn it and follow the rules of ichi and you will be way ahead of the game. In all my years of trading I don’t know of a better price action based tool.
You guys were asking to see some setups as they are happening… here’s a few from thursday and friday that we jumped on. [I]These are the setup charts… look at the current chart on your platform to see how the setups resulted.[/I]
Below is a [B]gbp/usd[/B] 4hr chart from Friday morning before NY open. 1 of two things we were looking for here… The indicator (custom made by the way) was showing a very strong bullish scenario so we wanted a test of 1.5547 which you can see did happen. That was our buy level with anything below 1.5495 signaling a quick sell. We took the buy and price jumped up from our entry on 1.5547 to 1.5693
Below is [B]AUD/USD[/B] again from friday morning before the NY open and this was when we had a signal trigger a very stong buy. Entry was triggered @ 0.8989 immediately the price jumped up to 0.9065… good easy gains and this position is still open for me.
And again in USD/JPY, this setup from Thursday which our entry signal was triggered to sell @ 87.32… price of course moved as expected bottoming out at 85.94
The great thing about price action is that any indicators that are based on price action will always adapt to the market and if you get to know price action and become confident with it and follow simple rules… rewards will follow.