This new trend would focus on educating ourselves on the most important ingredient in successfully trading FOREX, commodities and other financial assets which is Price.

Price could be regarded as the representation of what market participants thinks about the value of an asset.

Let us discuss about Price action including building a trading strategy with Price action.

Happy Trending

"Price could be regarded as the representation of what market participants thinks about the value of an asset."

Yes, I think you are damn right!

Price action coupled with EMA crossing gives us a true picture of the market direction
which reveals the global traders' sentiment towards the value of an asset.

I spotted a trade day before yesterday which I believe would be bullish but did not hit until yesterday
giving me 261 pips in less that 24 hrs. That is the power of PRICE ACTION!

I was never a good winning trader until I learned price action.

I concurred that it should be widely discussed here.

Could you guys shed more light on this price action trading strategy? Pls we are waiting.
Thank you

I will like to know this secret on forex trading, please am waiting to get the gist on the price action

over $800 from 2weeks price action , there were times the trade was on the negative up to -$950 but with patience and experience yo know its would end in profit. i had to close all the positions and take my $$$ last night

Mencer,
what tf were u blasting your price action and entries from and why several copies Euraud and Eurusd?

Does anybody understand the account posted above at all?
Who really asked for proof of account, anyway?
Opening time with no closing time of trades or what do you say?
Please, study the above account very well and keep your comment to yourself.

Let's not deviate from the topic of this thread, anyway.
Price action trading strategy simply works on a naked price chart.
When I say naked chat, I mean you only see candlesticks or bar chart.
Yes, no indicators for now.
Because this is wkend and I have some functions to attend, I will drop a simple
assignment for you cos we are going to learn and trade forex price action together:

If you are using MT4 or MT5, it will open but only that there will be no trade cos this is weekend
1. open your trading platform now.
2. Pick a major currency pair, let's say, AUD/USD or USD/CAD. Are you there? OK!
3. Kindly delete all indicators, vertical/horizontal lines that you might have on the chart
4. Let your platform cover all your computer screen so that you can see everything clearly
5. Then, click on 4 hour time frame.

Sorry, I have to stop here for now. I will see you and continue from there next week when the action
shall begin again, live.

Thanks and have a blissful wkend!

naira4ever:

Does anybody understand the account posted above at all?
Who really asked for proof of account, anyway?
Opening time with no closing time of trades or what do you say?
Please, study the above account very well and keep your comment to yourself.

Let's not deviate from the topic of this thread, anyway.

Price action trading is the art and skill of making all of your trading decisions off of a stripped down or naked price chart. This means no lagging indicators outside of maybe a couple moving averages to help identify dynamic support and resistance areas.

All economic data that leads to price movement within a market is first turned into a belief in the human mind about how this data will affect the market and this belief is then turned into an action from a trader which reflects itself via price action on a price chart. In this way price action trading reflects all variables of any market for any given period of time. This is also the reason why using lagging price indictors like stochastics, MACD, RSI, and others is just a flat waste of time. Price movement provides all the signals you will ever need to develop a profitable and high-probability trading system.

@

lawson007:

Mencer,
what tf were u blasting your price action and entries from and why several copies Euraud and Eurusd?

my trades are based on daily TF
and what you see are various positions in Euraud, Eurusd.

i have posted the results because of my interest in the price action theory at least to show someone that works like magic , i wish i had taken the screenshot so could see there's not a single indicator on the Chart.

mencer:

@
my trades are based on daily TF
and what you see are various positions in Euraud, Eurusd.

i have posted the results because of my interest in the price action theory at least to show someone that works like magic , i wish i had taken the screenshot so could see there's not a single indicator on the Chart.

You are very right my man.
From experience i tend to see the trend clearly
on the daily time frame with the major key levels.

I agree with you all that price must be the focus of every market traded but i still cann't find any basis for the widely condemnation by some traders about indicators. Though i dont use indicators, i strongly believe every entry or exit call by any of these indicators were not made from the moon but from price itself. We condemn lagging & leading indicators, forgetting that they were mathematical calculations from the actions of price movement (note: am not here to sell any signal, indicator or robot) but to educate. Rob Booker, a fund manager manages millions of dollar using moving average to trade all his life uptill now. Many more stil use them so why do we condemn as if they place the trade for us.

The focus is price action so there are many ways of studying it. In my next post am start my educative post on price.

Thanks all, i appreciate you all for reading

I agree with you all that price must be the focus of every market traded but i still cann't find any basis for the widely condemnation by some traders about indicators. Though i dont use indicators, i strongly believe every entry or exit call by any of these indicators were not made from the moon but from price itself. We condemn lagging & leading indicators, forgetting that they were mathematical calculations from the actions of price movement (note: am not here to sell any signal, indicator or robot) but to educate. Rob Booker, a fund manager manages millions of dollar using moving average to trade all his life uptill now. Many more stil use them so why do we condemn as if they place the trade for us.

The focus is price action so there are many ways of studying it. In my next post i would start my educative post on price.

Thanks all, i appreciate you all for reading

Trading price action can be referred to as 'trading naked', and this actually has proved to be the best form of speculation in all forms of markets,be it spots fx, futures, options, stocks and bonds and commodities(CFD- Contract for Difference). One has to be conversant with candlesticks formations if one trade candlesticks,which in my personal opinion is better than using bars where one is restricted to a few patterns. Steve Nisson book on Japanese Candlesticks could be found a useful handbook which actually has proven to be 'the bible of candlesticks' which i have been privileged to go through a couple of times.

Last week has been interesting, as we saw high volatility in the global financial markets; this was largely due to the unilateral cut of Swap rate by 50bps jointly announced by all major Central Banks to bust liquidity, also the European finance ministers meeting hoping to find solution to the looming European debt crisis in member countries, also most importantly the non-farm payroll data released from the US gave us positive indications that more jobs were being created in the US.

All these and many more make price movement more erratic and volatile. Price action understanding is worth studying as it is possible to understand the market perception and behaviors.

Technical analysis is the study of market action (specifically price and volume), so price which is market action has physical appearance called charts and like we all know we have 3 major type of charts – line, bar and candlestick. Though there are others like point and figure charts, etc. all of them shows the Prices that we want to study.

Price Action is the tick by tick or point by point movement in the value of any underlying asset over any given period of time (could be 1mins to yearly period).

Price reflect the behavior of every one participating in any market, Price action is a function of the disparity(disequilibrium) in the forces of demand and supply, therefore price would always move (act) since buyers and sellers are never equal in the market at any given period of time.

It could be concluded that price moves in trend upward, downward and sideways. The action of the value say Euro would be moving upward if buyers for euro are more than suppliers of euro forcing the price of euro to go up, while the value say Gold would be moving downward if buyers for gold are less than suppliers of gold forcing the price of gold to go down at a period of time. It would be sideways if sellers of sliver and buyers of silver are seriously contending for superiority without much hedge over a period of time.

Meaning when we say price action we are saying price trend
(Price Action = Price movement = Price Trend)

Every successful traders or analysts should be able to understand the concept of trend as this is the basis for studying price. Trend analysis is the catalyst of consistent success in trading.

Not forgetting that understanding charts which enables us see the picture of price and aids in identifying trends of underlying financial assets/instruments.

Thanks