Simple Price Action

Trade 11

1 hour
entry 1.95289
stop 1.94766
target 1.9585 ish

missed entgry by about 20 seconds its taken off already, set as order if price should retrace within current hourly candle

Took full loss
my error was not in reading the PA correctly, actually it worked to the point where Price reached the next resistance level however it didn’t push through to my target

Price Action always works for me, The only time my trades fail is when I mis read the information on the chart in front of me. Mostly I can observe this quickly after the error though clearly not quickly enough in some instances ie before the trade!!:47:)

note… key is to qualify the best opportunities and only focus on those - less trades of higher quality = better results

Trade 12
aud nzd 1hr
entry 1.14255

1.1 rr
entered this morning - currently 5 pips negative

stop at breakeven now
tightened stop and left as trade developed - ended up with 0.33 Reward - not ideal but better than loss

Trade 13
entry aud usd
entry 0.91035
limit 0.91445

missed entry earlier, nice setup with likely 1.1 RR or better, should price retrace within this candle take the entry and tighten stop on bounce of RN 0.910000

cancelled order 13.42 - this is not looking right as price has exceeded prior two candle highs and may be touching next resistance area - was tight in the first place and shame I missed entry earlier, would have been in with a breakeven stop on probably around 1.1 RR in trade
Had price pulled back to RN I was anticipating a bounce and run to the 0.9150 area - may still happen though as per my rules I am cancelling…I guess Price will run up to 0.91445 before reaction or possibly straight through

short DAILY TF
ENTRY 1.13469
STOP 1.15308
TARGET 1.11669

stop to move to breakeven on reaching 1.1250 area and target as set or let it run to next major resistance around 1.10000 area

Trade 15

entry 1.45744
stop 1.44413
Limit 1.47404 conservative - 1.48750 aggressive
stop to breakeven once at 1.1 RR in trade

trade 16

aud chf
daily tf

entry 0.84467
stop 0.85907
target 0.83050

1.1 rr

entry triggered

trade 17
aud chf 1hr short

entry 0.84872
target 0.84530
stop 0.85176

1…1.1 RR

stopped out full loss.
Extremely frustrating as this was a good entry according to my rules
I’ve gone back and carefully reviewed the setup, conditions and all quality aspects and still come to the same conclusion… thag rhis was a good place to short. guess its simply one that didnt work

On to the next one …

trade 18

aud jpy

entry 89.61
stop 90.158
target 89.05

stop to be once price reaches 89.30

locked in at breakeven now- not reached price as expected but not able to monitor over the next couple of hours - has exceeded lows and RN in the way so fairly safe

target reached…1.1 RR

trade 19
nzd usd short

entry 0.79486
stop 0.81712
target 0.77381

rr roughly 1.1 slightly less reward

Price will likely get stuck around 7870 area, at this point stop to break-even and let it run to target

cancelled - well actually got triggered and pulling out with very small loss
just realised there is an resistance which i believe will be overcome though that significantly increases risk to my capital so I am deciding to close out on personal choice and recognise that I missed the resistance area. Would not have taken trade in light of that information… even if the trade works out,… it carries more risk so would be better left alone.

Trade 20

eur cad short
entry 1.39635
stop 1.40025
target 1.39285

approx. 1.1 RR

[QUOTE=Priceology;519205]Trade 15

target reached

[QUOTE=Priceology;519386]trade 16

aud chf
daily tf

target reached

[QUOTE=Priceology;519205]Trade 15

target reached

stopped out full loss
missed the 50 RN horizontal support/resistance , on review PA worked to that point, Price tested area, failed to find any traders willing to sell further and bounced to test high of SRZ and RN where my stop was, exceeded that by 5-8 pips (spread).
Despite my loss…The trade worked. PA worked as it always does. My read was good but didn’t account for strong resistance at the 50 area. My target was at second level of resistance which was not reached due to lack of sellers.
With all this information simply would not have taken the trade looking at lower RR at the first resistance.

To any traders who are interested to know more about a specific trade, feel free to ask and I will do my best to explain, I don’t always put down a full description due to time

Good trading


PS please rate thread if any good or not!! :cool:


eur aud sell
entry 1.48457
stop 1.49294
target 1.47588

Hey mate good on ya, You reached your target and just 1 pip away from being stopped out :slight_smile: Anyway, I would like to ask you what make you jump in? You always trade R=1 or so?

I’m also a newbie trying to learn PA, I’ve been trading for a month and just this week I’m starting to get it. Having said that, I trade R=2 and looking at S/R for indecision candles (i.e. pin bars)

This week for instance, I traded these 2 positions so far, following your strategy would have you take them? (I missed several others as well because of work)

Chart CADJPY, H8, 2013.08.20 21:14 UTC, AxiCorp Financial Services Pty Ltd, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots
Chart GBPUSD, H8, 2013.08.20 21:55 UTC, AxiCorp Financial Services Pty Ltd, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

I also have my own trading journal, you are more than welcome to drop by, maybe we can share some insights


target hit