Hello Apex,
You don’t trade horizontal levels? ‘Oh my’ is all I have to say. If you really understood how both order flow, stop orders, and trader psychology work, my guess is you’d be re-considering using them.
But you consider the tenkan sen and moving averages to be representative of value?
hmmmmm…
Kind Regards,
Chris Capre
Hello Traders,
A lot of setups this week, along with some chop on a few pairs, but one that is standing out to me which has opportunities on both sides, is Gold which formed an impressive bull run after the massive two day selling from 14 days ago.
The PM hit the key resistance level at $1484, testing it twice before running into sellers there. On the 4hr chart, this manifested as a pin bar, while on the 1hr the second attempt at the level formed an ‘almost’ large bearish engulfing bar (chart below).
These intra-day price action twin rejections suggests to me there are sellers really willing to defend this level. The PM found support at $1448, so bulls and bears have their lines in the sand drawn.
Watch for intra-day price action signals off the $1484 level (for bears) while bulls can look for support off the $1448 level. Although short term momentum is up, and physical demand has been through the roof lately (I know because I tried to get Krugs and was put on a 2-4 week waiting period :-ooo), medium term, the line of least resistance is to the downside.
Kind Regards,
Chris Capre
Haha, im more of a dynamic man than a static, doesnt mean I dont use horizontal levels (to make sure I dont run into anything), but usually I can tell these levels straight off the bat.
Also, I know tenkan is used for momentum and not to measure the trend, but I find it works for me along with the other moving averages you see on the charts I post.
My main belief is that the market is dynamic so the best way to spot value is with moving averages.
Happy trading this week.
Hello Apex,
Why be more one than the other (static/dynamic), why not both?
Sure, the market is dynamic, but if you really understanding positioning and order flow, and how stops are placed, along with DOM, liquidity and stop clusters, you’d probably think on it differently.
If you’ve actually seen an order book in real time, or thousands of trades inside a broker, you’d see how stops & orders tend to congregate around key levels.
As to moving averages, they are lagging, so in many cases the ‘value’ they will be offering will be lagging as well - and in highly directional trends, they will be useless in offering value - but suit yourself.
Kind Regards,
Chris Capre
I see what your saying, indeed I have seen an order book, infact there is a good thread on here dedicated to orderflow, its just that I found my trading improved when I stopped actively looking for them, because it can hold you back, you always seem to find resistance somewhere… So if there is a key level, it should be one I can see without looking to hard.
Apex,
How are the things ? This week is very important. Start of an another month and so many new events on the way. Expecting much bigger moves this week. Specially for EUR/USD. Play safe mate. See you around.
Chris,
Hope you had a nice weekend. As usual very nice analysis. I am going to closely monitor GOLD this week to grab a few trades.
Hi traders,
I’m new on babypips. Normally i do not participate on fora etcetera. I’m glad someone point out to me this forum and especially this thread. The attendance of mr. Capre has me decided to sign up and to participate. I’m a great admirer of his work, the price action part. I haven’t studied his ichimoku concept. But as it is based on indicators, I do not like it at first glance.
The moment I discovered the webinars mr. Capre gave in the past on fxstreet, he stopped holding them anymore. But for me there is already a ton of information in the 2 years of past webinars. I watched the whole set twice and will probably review them a third or even a fourth time. They are really great and I want to thank mr. Capre for exposing his knowledge and method to approach the markets for free. God’s ways are inscrutable, so seems the way mr. Capre translates the laws of abundance in his live. I’m grateful for that.
I’m trading the 1hr, 4hr and daily tf. My strategy is based on the the work of mr. Capre and mr. Seiden. I’m trying to combine it. I do not like a lot of screen-time. I try to avoid it or bringing it back to a minimum by concentrating on certain levels and set my orders pending in accordance to my view of the market. By participating in this forum I hope to improve or finetune my entry strategy and especially my sl-placing strategy. I looking forward to the interactive and constructive chat with you all and especially with mr. Capre. Maybe he can clarify to me some issues that came up by watching his webinars. I will point them out at the moment they are actual in current or future markets.
Happy pipping for everyone!!
Rob
Hello Rob,
Thanks for the positive comments and good to have you on board. I have some good friends from Amsterdam, one of them works for Rabobank managing one of their funds, but a great city which I enjoy visiting a lot.
In regards to your trading plan - seems very sound and I’m glad you try to keep things to a minimum when trading.
And yes, please feel free to bring questions you have from my webinars, as long as it relates to price action which is what this thread is about.
So welcome aboard, and I look forward to working with you here.
Kind Regards,
Chris Capre
Hey mate, everythings fine, and the weather in London is getting better all the time.
Yeah, im hoping for some good moves this week too, it will be interesting to see how the EUR/USD develops over the coming days.
Happy trading mate, keep safe.
Apex.
Hello Rob,
Welcome aboard.
And have a pleasant stay.
As of the moment, my crystal ball isn’t crystal clear yet :D.
New week , new challenge.
Happy Monday everyone…
Kidding aside,
Just sold Pound Dollar @ 1.5510.
Buy stop @ 1.5530 (20 pips).
Price bounced off Feb 15, 2013 high and formed a dark cloud cover on the 4 hour chart.
Entry via 5 minute at the confluence of 20ema and 5m key level.
Chart below:
Cheers.
Nice pinbar set ups on the GBP/USD H4 and EUR/USD H4 already in short on
my all time favorite the pound and getting into the EUR/USD.
As Chris said earlier lots of great setups in the week and we gotta take them
Anyway the madness starts on WED and should have made some pips before the fundamental
hell comences.
HELLO TRADERS,
Finally I have read through the thread’s 90 pages and have gained so much information.
Just how much do you need to trade using price action?
Haha, Danny, im glad you managed to benefit from the good times we have on this thread, im sure you wont be the last either… We have some good debates here and you can really learn amples from contributing.
As far as your question, you can never know enough, with trading you are always learning new things so dont think your going to know EVERYTHING in a few months, but if you have continued success on a demo, then start small on a live.
Apex.
Hello Dany,
Are you asking how much $$$ you need to trade using price action, or are you asking in terms of knowledge?
Let me know
Kind Regards,
Chris Capre
Hi All,
Thanks for the warm welcome!! And mr. Capre thanks for the invitation to question your method in more detail or on points which are not clear to me.
Let me start with the first one:
How do you enter your trades? For instance in your chart on euro you pinpoint the resistance and support levels. Do you trade them based on pending orders or do you wait for confirmation from the levels.
Me myself am relatively defensive in my trading, maybe to defensive. Most of the time I put my orders (pending) on the latest key role reversal level or at the low (support) of the range that is broken. For instance my level on yen, since last week, was at 97,30 with sl at 96,85 and cable at 1,5270 with sl at 1,5240. Both missed my trigger by some pips.
Happy pipping,
Rob
Hello Chris!
I am here again to ask for some clarification. I’m a little confused about the system I am currently using. I posted some screenchorts last week some of my charts and systems I’m using, but this system does not give me a good entry in my trades and not a good solution … I get a little lost sometimes. Has another good system that I’m using fornce signals when to stay out of a trade, but when it comes to setting a take profit is way too confusing.
I asked how you would do if you were to trade binary options in another forum, and you gave me a good answer where you use a set of things to accomplish your technical analysis, but in your chart we see nothing more than an EMA 20 and the formation of the candles.
Then you let the graph naked and raw, with just 20 EMA and the rest is all analysis candle and levels of support and resistance?
I would like your advice here as I could do to negotiate your price action and I could begin to look at my charts?
I know that the system we use is often not the main factor of success within the forex, but a discipline in money management and good trading psychology, so that would not work in all trades but enter the time right and control the greed that is the worst enemy of every trader psychological.
But anyway I wanted to improve my system and how business, because I know that trading using price action is one of the best ways to trade the forex and also is one of the strategies most used and most effective for what you hear, and I also know that its strategy of Price Action Chris is well known here by traders.
Sorry I have been too long with this post, but here is the only place where I can vent about this and as I am a beginner trader still have many questions and a lot of anxiety about it all, because so much is still new to me .
Hi Capre, nice to meet you sir!
this applies to both capital $$$$ and knowledge. I have been reading quite alot and just wondering if I should stop and focus
on the infor I already have.
