Price Action That Matters

[aujla17]

Well done darth

Do you mind if I ask what moving averages you are using and what RSI is that at the bottom of your picture? Are you using RSI for divergence indication?

@darthfrancis

oil hit tp. money made. 5.5% made today. booya lol

Open Date Close date Symbol Action Lots SL(Price) TP(Price) Open Price Close Price Pips
14.10.2014 17:17 14.10.2014 19:57 WTI Sell 0.10 84.09 83.54 84.13000 83.59000 54.00

gained: 1.90%

'best

darth

[darthfrancis]

@darthfrancis

oil hit tp. money made. 5.5% made today. booya lol

Open Date Close date Symbol Action Lots SL(Price) TP(Price) Open Price Close Price Pips
14.10.2014 17:17 14.10.2014 19:57 WTI Sell 0.10 84.09 83.54 84.13000 83.59000 54.00

gained: 1.90%

'best

darth

second position hit tp

'best

darth

[darthfrancis]

Well done darth

Do you mind if I ask what moving averages you are using and what RSI is that at the bottom of your picture? Are you using RSI for divergence indication?

Hey bro, I forget there on there tbh but use as a general gauge of market and rsi is your box standard. The important thing is the price action not the indicators. PA holds the story and are in the “now” indicator’s are always old news.

darth

[aujla17]

Thanks for the reply.

I guess the trick to PA trading is to be able to ‘read’ whats going on in the price.

I trade PA on the daily timeframe using Fox method. I know adam doesn’t ‘agree’ with how Fox enters trades but it seems to work out well for the daily time frame.

The only problem is that the daily isn’t giving me many signals each month. I have therefore considered the 4h as that might work for me. Only problem is I live in West Coast Canada so all the real london trading happens when we sleep.

Please keep posting up your charts darth as its nice to see analysis being done on real setups.

Hey bro, I forget there on there tbh but use as a general gauge of market and rsi is your box standard. The important thing is the price action not the indicators. PA holds the story and are in the “now” indicator’s are always old news.

darth

[darthfrancis]

third position tp hit on my oil trade. what a beauty.

Open Time Type Size Item Price S / L T / P Close Time Price
2014.10.14 17.17.58 sell *** wti 84.13 83.53 80.65 2014.10.15 10.48.45 80.65

'best

darth

[darthfrancis]

Thanks for the reply.

I guess the trick to PA trading is to be able to ‘read’ whats going on in the price.

I trade PA on the daily timeframe using Fox method. I know adam doesn’t ‘agree’ with how Fox enters trades but it seems to work out well for the daily time frame.

The only problem is that the daily isn’t giving me many signals each month. I have therefore considered the 4h as that might work for me. Only problem is I live in West Coast Canada so all the real london trading happens when we sleep.

Please keep posting up your charts darth as its nice to see analysis being done on real setups.

I only trade h4 tbh, daily on occasion, fox is good and got me started to PA but there is so much to PA that he doesn’t teach and he has a reputation to protect so he won’t do anything to damage but whatever. I just recommend to look at everything to do with PA not just EB’s and PB’s.

'best

darth

[aujla17]

I agree

He teaches the basics that give you a foundation to build on. I liked learning from him because it was all there and easy to read. Just like how this thread is. All information is organized so you don’t have to go out and extract it.

I only trade h4 tbh, daily on occasion, fox is good and got me started to PA but there is so much to PA that he doesn’t teach and he has a reputation to protect so he won’t do anything to damage but whatever. I just recommend to look at everything to do with PA not just EB’s and PB’s.

'best

darth

[darthfrancis]

I agree

He teaches the basics that give you a foundation to build on. I liked learning from him because it was all there and easy to read. Just like how this thread is. All information is organized so you don’t have to go out and extract it.

Yeah he provides a good place to start from, but I recommend to also learn about trendlines, channels, ma’s, multiple candle formations, multi-timeframes, momentum, and all types of PA candle.

Just to start with

Also don’t be put off stuff that’s hard to get your head around.

'best

darth

[aujla17]

Sounds good!

Since I trade on daily charts, there are not many patterns that occur frequently enough to learn. I have seen Adams videos and thats what I truly saw what PA patterns looked like in the real charts and not some perfect picture of them. The perfect pictures mislead me because I looked for that to occur to perfect. But with Adam’s videos I saw how a tiny movement could be a head and shoulders problem.

With drawing channels. In your opinion. Should I draw them on daily and trade them on h4? or Draw them on the timeframe intended for trade?

Yeah he provides a good place to start from, but I recommend to also learn about trendlines, channels, ma’s, multiple candle formations, multi-timeframes, momentum, and all types of PA candle.

Just to start with

Also don’t be put off stuff that’s hard to get your head around.

'best

darth

[darthfrancis]

Sounds good!

Since I trade on daily charts, there are not many patterns that occur frequently enough to learn. I have seen Adams videos and thats what I truly saw what PA patterns looked like in the real charts and not some perfect picture of them. The perfect pictures mislead me because I looked for that to occur to perfect. But with Adam’s videos I saw how a tiny movement could be a head and shoulders problem.

With drawing channels. In your opinion. Should I draw them on daily and trade them on h4? or Draw them on the timeframe intended for trade?

draw on both, as you can have channels within channels. And your right picture perfect setups are like rocking horse s*** forget about them and learn the formations, go back through your charts on any timeframe on any pair and you will see them over and over again.

'best

darth

[aujla17]

Wow,

I just put a trend line on the daily chart and went to the h1 to see the stetups… man some good setups could have been taken with insane R:R

Im definitely going to start learning more about channels before anything else.

Toolkit so far:
Engulfing bar
Pin Bar
Inside Bar (only the one that makes it look like 2 bar reversal)
2 bar reversals
Double top/bottom

Learning:
Channels
Head and Shoulder

Wish list:
Everything else

draw on both, as you can have channels within channels. And your right picture perfect setups are like rocking horse s*** forget about them and learn the formations, go back through your charts on any timeframe on any pair and you will see them over and over again.

'best

darth

[darthfrancis]

Wow,

I just put a trend line on the daily chart and went to the h1 to see the stetups… man some good setups could have been taken with insane R:R

Im definitely going to start learning more about channels before anything else.

Toolkit so far:
Engulfing bar
Pin Bar
Inside Bar (only the one that makes it look like 2 bar reversal)
2 bar reversals
Double top/bottom

Learning:
Channels
Head and Shoulder

Wish list:
Everything else

a great start mate, just take it slow each setup is a snowflake no 2 are the same. also use h4 instead oh h1.

'best

[darthfrancis]

and with r:r try not to be greedy. its a killer.

[aujla17]

I agree

But is it not reasonable to target the top/bottom of channel in the direction of the channel?

I been playing with channels today. I draw them on daily and look for entry on lower time frame while targeting top/bottom of channel. Work well if all goes well

and with r:r try not to be greedy. its a killer.

[wade3251]

hi guys,

great forum guys, am new here and learning the basics from the pros :).

[wade3251]

Anyone care to explain to me what VVSA stands for or where can i dig for these kinds of terms? thanks you all.

[aujla17]

Below is a picture of NZDUSD

I have drawn what appears to be a rising wedge after a down trend.

Does this rising wedge indicate that a bearish move is on its way?

If so, does one trade this pattern by breakout or when PA bounces off the lines in the bearish direction?

[eddieb]

It looks like you are trying to make a pattern where there isn’t one. Your lines are inconsistent, some on the shadow ends and others on the bodies

[aujla17]

You may be write.

I thought lines are okay as long as they don’t go through any one of the body?

I know I started at the wick and then went in closer to body because thats how I saw it fit.

But i don’t know if what i am doing is correct or not.

Trial and error will help soon enough!

Do you draw lines from wicks to wicks?

It looks like you are trying to make a pattern where there isn’t one. Your lines are inconsistent, some on the shadow ends and others on the bodies

[aujla17]

price has broken that wedge going lower tho may have just got lucky i didnt enter it since it was too late