Same thing on Cable, but with choppier PA.

Price action trading - Trade like the pros!

Great, I can showcase another way to enter in a different market type. Consolidation from tuesday's rally extended throughout the entire session yesterday. It picked up today, with euro and cable moving down. What followed was a retrace back to a ...

Price action trading - Trade like the pros!

The problem with EURGBP is that its main driver right now is GBP weakness. Cable is making record lows, and we're not sure when it will stop. We can only guess psych levels like 1.2750 or 1.2700 will hold it. It's a matter of pricing brexit in. If ...

Price action trading - Trade like the pros!

You're welcome for the feedback. It's nice that you are training your eyes to spot areas of supply and demand. Keep it up, and it will become second nature to you. However, don't forget that we don't just buy or sell when price gets near or inside ...

Price action trading - Trade like the pros!

Glad to hear it Careful though, sometimes I can get it wrong. As for EU, like I said - too far down below the daily open. Rallies were tiny up until that huge jump up at london close. It would appear you enter your trades ...

Price action trading - Trade like the pros!

This is what I meant when I said it completed the range and needs new fuel to keep moving. Dipped to the asian session accumulation, straight into demand (and more importantly - liquidity) and took off. Also have a look at the dollar index, it ...

Price action trading - Trade like the pros!

Patience is rewarded in this line of work.. now let's see it fight through that blue-marked area.

Price action trading - Trade like the pros!

The answer is within this recent price action. Markets are like a pendulum. They oscillate and you know, what goes up has got to fall The way I see it, price declined from 1.3170 and then rallied back to complete the range. It then proceeded to ...

Price action trading - Trade like the pros!

Ucad shorts tight stops, better be right on this

Price action trading - Trade like the pros!

Looking at a daily EU chart, 1.1150 was tested. It's an important level because it doubles as a psych number and demand. I would rather not take any longs today, because any rally would be shortlived.

Price action trading - Trade like the pros!

In order to make sense of what's going on, we take to the USDx chart. Now I'm not saying it will, but there are strong chances dollar pops above those highs.

Price action trading - Trade like the pros!

Excellent That's exactly what I wanted to see. By going on a smaller timeframe, it's hindsight now, but expect it to hit back 1.1164. This is what I meant, when I said it's risky to buy too low below the daily open.

Price action trading - Trade like the pros!

I want a retrace back into my fib retracement, or I'm not getting in it I am short on usdcad, though. Don't look at too many pairs or else you risk becoming overwhelmed. I mean reversed the rally and dropped.

Price action trading - Trade like the pros!

Of course but where? How? Why?

Price action trading - Trade like the pros!

Remember what we talked about suspiciously clear equal lows? Practice time. Anyone who can tell me why EURUSD turned down at 1.1350 wins.

Price action trading - Trade like the pros!

I'm sorry, you'd have to tell me which pair this is so I can have a look of my own.. I have never used EAs and never really trusted or liked them. I wouldn't know how you can automate a system that requires as much discretion as this one. You ...

Price action trading - Trade like the pros!

Going in blindly never goes well No, there are three types of entries for me - during consolidation, like yesterday, in a market reversal, in a trending market. If the market is in a consolidation range, I would use my fib on the range and try to ...

Price action trading - Trade like the pros!

Pretty much, yes Well I like to think of myself as trading market models but in terms of the tools that I use - those sum it up

Price action trading - Trade like the pros!

You're right Since my chart is a bit different than yours, I see price already dipped into it and dropped. However, may I shed more light? The supply on its own is strong, but not strong enough. There are a few other things ...

Price action trading - Trade like the pros!

Simply by building a directional bias before sitting down to trade We do most of our work outside of trading hours, remember? Regarding stops, trading is like a game. We have to think like retail traders and like market makers at the same time. ...

Price action trading - Trade like the pros!