Pure Price Action For Dummies

[bobmaninc]

Catching on quickly I see. Yes that would be a bullish signal

[erinsunc]

And there goes Nikita post an AU chart. Well if your candle forms I just might buy it we all
know how much I love the 50% mark of the previous candles whick

Hi Bob,

I’m a newbieish to the thread and straddle reading (beginning and end) at the same time. At the moment I am up to the point where you are cooking brownies for church so I haven’t quite got to the bit where you mention wicks. I was wondering, if you could briefly summarize your thinking on wicks again?

Love the thread,
Thanks in advance.

[bobmaninc]

Just keep reading. I have a thread on my trading in the comdolls section. I wont go into my trading to deeply here as I trade a little different than this thread. I trade very close to the same concepts just since I have been a part time trader I am forced to trade higher time frames for the most part.

[Nikitafx]

And there goes Nikita post an AU chart. Well if your candle forms I just might buy it we all know how much I love the 50% mark of the previous candles whick

Hehehe, that idea was a little piece of nugget worth its weight in gold bobmaninc. Thank you.

[Nikitafx]

I’m a bit confused with the term here, somewhere in this thread you mention about Nial Fuller price action trading, so I checked out his website and view his videos. If a candle has a very long tail, I read that it’s called a pin bar or hammer or hangman, a sign of reversal but not always. In this week candle, I would say it’s a hammer. While a pullback candle, in my understanding is a retraced candle which usually occurs after a pinbar before making a big move. That’s why I assume that your imaginary candle for next week is the pullback, and this week candle is the pinbar.

If your imaginary candle for next week is fully formed just like that, then I would go long for the week after that, based on the pinbar candle form (this week). Do I make any sense? Thank you for taking the time to explain this to me really appreciate it.

Well, you have to understand that things are not very exact when it comes to charting. So while Nial might have described something with x + y = z, coming across a signal like that will not be an everyday occurrence. Matter of fact, it might not occur once a month even.

Try to understand the gist of what is trying to be said, and not pay too much attention to trying to find candles that are exactly like in the training video.

Picking entries with candles can only become clearer with screen time, as its 50 - 50. Part pattern, part experience.

[johnson7]

I will certainly follow your thread. Your thread is really informative. Keep it up dude. You are doing tremendous job.

[Ryan91]

Currently AUDUSD looks bullish to me. Ascending triangle forming on both H1 and H4.
Not sure if i’m alone on that?

[gs8888]

I always lose when these types of events occur.
The Red plotted line is a Support, Is it viable to go long at here after a BPC in lower time frame ??
Though it is against the communist rule and as no confirmation candle formed yet.

[yenny]

Hi gs8888, I’ve been watching the same chart as you and feel the same thing to go long, but since yesterday candle was sell, I prefer to wait before to go long. Waiting for others to comment about this

[SimonTemplar]

Congratulations mate. Wishing you all the best

Thank you, that’s kind of you

[SimonTemplar]

Hehehehe!

The best part of this thread? It helped me cross on to the next level of learning how to trade better. The learning never ends, no matter how long you been at it, and I don’t think I would have gained the " ah ha!" moments if it had not been for this thread.

To that end, I will always be thankful to traders like bobmaninc, ST, and countless others, who kept sharing here. They made me look at many things from a different view point. That is something that no amount of screen time would have helped.

Finally, I would like to sincerely thank members like salim and share bazaar for keeping this thread going during my absence.

I am back.

Now let’s rock this year!

Niki, that’s a lovely sentiment, and we all appreciate it, but you’re the real engine here, so the gratitude is right back at you tenfold. You set out the thread, you give the cohesive, contextualised trading insight, you put yourself ‘out there’, for which you certainly have my great respect. The rest of us just lob in the odd thought from the sidelines and try to help someone out from time to time. So I’d like to thank you right back, for giving the site such a consistent stream of good, sound trading sense.

ST

[Nikitafx]

Currently AUDUSD looks bullish to me. Ascending triangle forming on both H1 and H4.
Not sure if i’m alone on that?

However it looks like today, it generally wont play out how its suppose to as many traders will be cashing in today. Friday.

The volume of those doing so should be substantial, judging by how market generally goes against bias on Fridays. Its good to trade against bias on Friday, if, and only if markets have touched a significant S&R area the day before.

But than, this is not written in stone. Best to leave Friday be, until much more experience watching the markets is gained.

[Ryan91]

However it looks like today, it generally wont play out how its suppose to as many traders will be cashing in today. Friday.

The volume of those doing so should be substantial, judging by how market generally goes against bias on Fridays. Its good to trade against bias on Friday, if, and only if markets have touched a significant S&R area the day before.

But than, this is not written in stone. Best to leave Friday be, until much more experience watching the markets is gained.

Yeah, decided to stay on sidelines today. But it seems like AU has been sideways for the past few days.
Time to close shop for the week and wait for Monday to come.

Have a great weekends guys!

[sharebazar]

[QUOTE=“Nikitafx”]

The volume of those doing so should be substantial, judging by how market generally goes against bias on Fridays. Its good to trade against bias on Friday, if, and only if markets have touched a significant S&R area the day before.

Thanks for this statements Nikita as I was also trying to watch the price how they react on Friday when they touch the S&R area on higher TF.

Normally I don’t trade on Friday, but I sold NU at 23:00 GMT my SL was only 15 pips and my TP was 50 pips because price was on weekly resistance. I am glad that I tried and open my position. I managed to take 56 pips.

It was against the bias and the method, so I will not encourage to anyone to open this type of position if you are not sure.

[Nikitafx]

[QUOTE=“sharebazar”][/QUOTE]

Nice trade.

Watch these things and we will be able to understand how price moves. Its just bouncing of levels.

Its a shame most newbies start on smaller TF, and than get lost with how it all whiplashes back and forth.

Clarity is on higher TFs.

[gs8888]

[quote=“sharebazar,post:2692,topic:38997”]

The volume of those doing so should be substantial, judging by how market generally goes against bias on Fridays. Its good to trade against bias on Friday, if, and only if markets have touched a significant S&R area the day before.

Thanks for this statements Nikita as I was also trying to watch the price how they react on Friday when they touch the S&R area on higher TF.

Normally I don’t trade on Friday, but I sold NU at 23:00 GMT my SL was only 15 pips and my TP was 50 pips because price was on weekly resistance. I am glad that I tried and open my position. I managed to take 56 pips.

It was against the bias and the method, so I will not encourage to anyone to open this type of position if you are not sure.

Nice trade sharebazar.
Btw, where was your entry and exit ?

[Sweet_Pip]

Nice trade.

Watch these things and we will be able to understand how price moves. Its just bouncing of levels.

Its a shame most newbies start on smaller TF, and than get lost with how it all whiplashes back and forth.

Clarity is on higher TFs.

I think I’m beginning to see that.

[Nikitafx]

I think I’m beginning to see that.

Hello old friend

[sharebazar]

Nice trade sharebazar.
Btw, where was your entry and exit ?[/QUOTE]

My entry was at 0.85231 and exit was 0.84665.

[Nikitafx]

SL best moved to BE as entry breaks most of the rules of entry.

Just a blind trade based on support and resistance.

GU H4 TF