Thank you, I didn't realize it had a name But yeah, that's generally it. We look at our charts and try to figure out what market has done, so that we understand what is currently doing and finally so we can know what to expect. Today's example ...

Price action trading - Trade like the pros!

I shorted euro, going against the overall trend. It's a risky trade, it could have well shot up. What gave me the confidence to act? Well first of all, the move up was capped, like I said by 1.1250. Which meant that in order for it to fight through ...

Price action trading - Trade like the pros!

Good job Today was a lousy day to give a live example on, but I hope we can find better ones in the upcoming days...

Price action trading - Trade like the pros!

Here's a live example on EU for you Can we all agree that EU is bullish right now? The rally started from 1.1130, on wednesday, September 21st. The rally was exhausted 5 days later, on the 26th @ 1.1280, which in turn started a move down. The ...

Price action trading - Trade like the pros!

And here's why that happens: How does price action develop? And this goes for any candle on any timeframe. The first 20% are usually moving against the intended direction (they move counter-trend), they set a high or a low. That goes on for a ...

Price action trading - Trade like the pros!

Speaking of time sensitivity, some trading days are in fact better than others! For instance, mondays are usually choppier and slow moving. Tuesday, Wednesday and Thursday are much better in terms of trend activity. Usually the weekly candle will ...

Price action trading - Trade like the pros!

This method requires a bit of discretion because it's not your ordinary "When green crosses red up - buy, when green crosses red down - sell" type of deal. However, when we want to learn how to trade properly and more importantly consistently, we ...

Price action trading - Trade like the pros!

With a rather tight 15 pip stop above the top of the asian range.... This position yields almost a 4:1 reward to risk ratio with an entry from the 61.8% retracement.

Price action trading - Trade like the pros!

One way to get a precise entry is using the fibonacci retracement tool.

Price action trading - Trade like the pros!

Let's take usdcad, a setup from august 12th. Breaking up the trading day by time. All times are GMT+1 (CET), since that's what my broker uses. Midnight is when the new trade day starts on our platforms. Up until Frankfurt Open, I call that the Asian ...

Price action trading - Trade like the pros!

Another component to a successful trade is to be aware of the time of day we are planning to position ourselves. Please, do not take any trades between 10 pm GMT and 4am GMT on european or american markets, as you will end up stuck in a ...

Price action trading - Trade like the pros!

Notice, during the accumulation phase, price action will be very choppy, volatile, going in all directions. We don't care about that. We have built a trade idea on the higher timeframes, we are confident that this market will be going up (down) ...

Price action trading - Trade like the pros!

When you are aware of your surroundings and know what to expect, entering is easy. You have two ways you can go about it. Either you are aggressive and buy at support/sell at resistance, or you play it safe and wait for a bounce+retrace back. There ...

Price action trading - Trade like the pros!

Let's zone in on the highlighted area on the eurusd chart - H4 shows us exactly where to expect that turn.

Price action trading - Trade like the pros!

To put it in context, while the dollar is rallying, the euro and pound should be declining. Like I said, magic.

Price action trading - Trade like the pros!

Think of those areas as demand. The reason markets can't just keep going straight in one direction is because they need fuel. I look at things this way: The dollar started the rally roughly from 92.00; moved all the way to 95.95 and lost some of its ...

Price action trading - Trade like the pros!

The charts that I use for USDx are forex ltd co uk. You can register a demo account and use the ones they provide on their metatrader.

Price action trading - Trade like the pros!

Yep, good eye. It's making higher lows, which is supposed to be a sign of a bullish trend. But look closer - why did it drop and why did it stop where it did? The answer: magic!

Price action trading - Trade like the pros!

Which is why I am trying to structure this thread more as a written guide rather than giving away my own interpretation. ICT's stuff is gold, would be a shame if it all went to waste. I don't feel guilty when it comes to what I've done by opening ...

Price action trading - Trade like the pros!

Basically we're looking at naked chart trading, but instead of using classic price action patterns, candlestick patterns, inside bars, engulfing patterns and all that crap that works only when it does, we're basing our trades on predictive analysis. ...

Price action trading - Trade like the pros!