Price action basics. Part 3 - Page 3
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Thread: Price action basics. Part 3

  1. #21
    Quote Originally Posted by wanahito View Post
    I have begun to understand what is meant by bro educator. Knowing through analysis of how prices move as where, when and why, the price actions and market reactions shall show the trader to make any decisions. Traders who have known the condition may use the preferred indicator to help open or closed the position. I will continue to learn about it.
    I personally think the indicator is useful as a tool to help traders in understanding the characteristics of the market, with a lot of experience so the trader can remove indicators, and analyze without indicators because they really understand the market, while many traders are going to try to understand the characteristics of indicators without understanding the characteristics of the market itself.

  2. #22
    Momentum is also needed to confirm the true breakout/reversal/or any other patterns. Without momentum , the effect is not great and the chances of stop loss being hit also increases too.
    So wait ave patience, and look for the best opportunity , that is try to trade when good price action forms so that you can minimize risks and maximize profits :)

  3. #23
    The best price when the same pattern and style works we can use the price actions and every time we should wait for some time the effect happens and then enter the trade. i also use many patterns and basically 12 patterns of candlestick with price action also and it's the best one strategy and i have left my technical trading style after that i join this strategy.

  4. #24
    If we all look out for some candlestick patterns especially in the historic (previous) support and resistance areas, then we can trade on those candlestick patterns with minimum risk reward of 1:1 or 1:2 . THis is also a part of price action strategy and everyone must use and apply these in their daily trading so as to become good in candlesticks chart patterns and price action strategy.

  5. #25
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    Best price when the same pattern and style works,So we can use the price actions and every time we need to wait for some time the effect happens and then enter the trade.

  6. #26
    Yes! Sometimes we should not just look price action only because sometimes or the other, the fundamental news effects the market and also changes the trend. So we should be unbiased. That is, we should do both type of analysis , fundamental analysis and technical analysis which includes price action. And if both agrees then trade with small stop loss and high take profits .

  7. #27
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    Quote Originally Posted by taharoyal52 View Post
    Yes! Sometimes we should not just look price action only because sometimes or the other, the fundamental news effects the market and also changes the trend. So we should be unbiased. That is, we should do both type of analysis , fundamental analysis and technical analysis which includes price action. And if both agrees then trade with small stop loss and high take profits .
    Yes, i agree we need to know fundamental news because the news with high impact will makes our trading worst if we just use technical only. actually we need to trade using both technical and fundamental, so we can avoid big losses and always trade with low risk. we will not get much losses if we really know the two analysis

  8. #28
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    Price action is not always giving signal as its pattern, it's depending on time frame which we are using and also timing to read candlestick itself. It's possible if the candlestick pattern is showing reversal movement (example : PinBar) but the real market's movement is not reversal. It can happen when the market has been oversold or overbought. If you read in the end of New York session, so there is tendency to become sideways so the signal is not too accurate anymore.

  9. #29
    Regarding this thread, I would like to say that some people trade with these moving average especially crossovers of 2 or 3 moving averages but every time i advice them to shift to price action to become more successful. The moving average serves as a very good indicator to tell the true trend.

  10. #30
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    Quote Originally Posted by Rizwan Aziz View Post
    Regarding this thread, I would like to say that some people trade with these moving average especially crossovers of 2 or 3 moving averages but every time i advice them to shift to price action to become more successful. The moving average serves as a very good indicator to tell the true trend.
    There is no doubt that moving averages are good to determine the forex market trend,but price action strategies are much better than using just simple moving averages,there are many patterns available in price action strategies to confirm the forex market signal according to the time frame which trader uses..

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