WHAT IS PRICE ACTION TRADING
In this article I will explain you about price action trading I do not writing about support and resistance and other indicators of Forex trading. Forex is the best on line trading platform for you but in this article I will tell you about the major part of Forex trading we called price action.
HOW TO UNDERSTAND PRICE ACTION.
When we see our market chart you noticed that market is going to run his mostly within three directions.
Some time market is in a uptrend and some time market is in a down trend and some time market is in a sideways direction. price action and yeah take it slowly step by step and you will see it will be integrated into the whole price action method so candlesticks explained okay pin bar quadrants historical buyers sellers trend concepts and strong versus weak trend and afterwards you should do your homework I will tell you which points you should revisit okay and then course our next article will be about other things trend lines and channels so for this article we will be talking about gala sticks and my favorite candle stick pin bar because you should be focused on pin bars I have the - chosen pin bars by purpose quadrants how to define quadrants how to define historical buyers and sellers and of course thread concepts so first a little bit of theory we won't be talking much about these things because it's no not very important for our trading.
WHAT IS CANDELSTICK PATREN PART OF PRICE ACTION?
as you know to chemists excitedly used to trade rice in 17th century so the concept of trading rice and the concept of candlesticks were first introduced in eastern part of world that was Japan of course so the so Japan was the cradle of Celtic trading core Japanese are very advanced nation and definitely they have introduced us to candlesticks but to us Westerners basically steamed listen broadcasting charting to Western audience and I personally have learned a lot from Steve listen back in time when I started to trade I actually bought Steve Nielsen DVD candlestick DVD and really I learned a lot from these scholastics and from Steve Nielsen himself candlesticks are pure price action and reflect the minds of traders and this concept is pretty much familiar to me because all these concepts which I have been building my candlestick trading I have also improved it because I'm not just a ordinary trader and ordinary analyst I am also researcher so many of those concepts which I have been and I've been talking about I am talking about and we'll be talking about are actually my own inventions so you will see a lot of inventions which are not yet seen in forex market but they are proven to work and they are proven to work because they reflect the minds of traders so-called traders biasso Steve listen broader scale ethics Broadus Candlestick charting but I have improved some things modified semantics to actually shoot as intraday and entry and entry week swing traders formation is always the same when candle goes up it's usually right when candle goes down it's usually black of course you can always switch the colors of candles you can do that by your trading platform in mp4 or whatever other platform you use for training or charting so usually by default white calais ticket is bullish candlestick and black candlestick is bearish cans by default now bulls bears is definitely trend concept and we use the term bulls and bears for trend concepts this is Cal Cal stick looks like so we have highest price we have lowest price and we have center section center section is called body of the camel so this is the body of the candle this is week and this is also week that is how can stick look like so this is Sky's price this is a lowest price this is body of the Calla stick this actually in my opinion is more important for analysis and trading than actual body the actual body of Candlestick is used to represent double body triple body candlestick patterns but it's not used to determine historical which is now moment buyers and sellers so our live chart I'm sure that you are familiar with a chemist expand I will use just a chart to show you those things which we are talking about just a second let me move my chart to this screen this is the chart and this is action so these are candlesticks you see bullish candle sticks are basically white bearish candle sticks are black you can change the color or candlesticks by opening properties bar app bar down bull candor bear candle and actually you can snap show the screen at this point and you can take my settings here so I am using a bear called candle 108 triple and seventy five a triple four line graph and you can see it's actually black why and light slate-gray so you can snapshot this and if you want to have a realistic representation as it is seen on my chart here so this is how candlesticks look like now let us continue so long white can't stick show strong buying pressure long black elastic show strong selling pressure new traders should concentrate the learning basic LS information on higher time frames actually the the simpler the better so there is so much to talk about price action trading and I will be focusing on really most important things because there are a lot of different styles for price action trading and I my opinion is always keep it simple so we don't need to care I know three mas - Meg DS RSI whatever in that form that is indicator based trading but if we talk about price action trading we will combine price action elements with nature charts so yes we will use some indicators during the course but it's actually in the price action trading concept because we are not talking now particularly this school is not naked trading because naked trading I don't do naked trading I I do price action trading so we need to use one or two most important indicators we can choose from a multiple very important indicators we can choose most important indicators and we can integrate it into a trading method and now we we are we are sharing the first step towards it so basic chemistry formations are always not just for new traders it's also good for advanced traders you don't need to learn all these patterns I actually know more than 60 Cal stick patterns it's not even important to know every single one of them because not every single one of them is recognized by majority of traders and they do not trade that dose we are careful focusing on most important classic pinbar is maybe the most important Kelsey will be focusing today on pinbar pin bar yes pin bar or pins definitely my favorite candlestick it's one candle candlestick pattern one candle only and everything is said everything is said when you see these candles candles like this everything is a-ok Carolyn is saying I am advanced trader but still a big loser so I guess that makes me a newbie guys if you are losing and you know how to trade it's not because you don't know concepts of trading we will be covering that also it's your psychology it's it's you versus market it's your psychology it's your risk management you are not losing because you don't know to recognize the market whatever but you are going against your rules so if you're losing and your advanced trader there is a cure for that we will come to that so don't worry so let's focus on pin bars or or pins this is not so cold it can be called a hammerthis can be called a hammer inverted hammer but actually the right name is pin bar because pin bar is actually candle which has a pin and nose pin and nose hammer can look like this inverted hammer like this without nose but it doesn't matter the concept is that when you see these candles it's called you know that it's a pin bar forget about those fancy names now shooting star hammer what other other pairs piercing line great it's excellent but today we are focusing on pin bars so these this is how pin bars look like very strong candles guys we will be using concepts of pin bars in price section in school a lot we'll be using it with strong EMAS with strong SMAS so this is what determines historical verses now moment buyers and sellers one candle Parana Cape in bar there is a tail there is a body there is a nose nose is not necessarily there it can be there or it key or it is not there it doesn't matter but if you see the nose it's it's still up in bar without a nose yes still still a pin bar now long up rollover week weeks are cold also tail and shadows so this is tail or shadow this is also tail or shadow the opposite the end the opposite which is called the nose so we can have a nose or we are not seeing a nose it doesn't matter no should be lower than mainly this is most important if you see the nose it should be it should be lower than main week this is main week main week the longer the week the better the longer the week the better it protrudes from the surrounding price bars so actually when you see pin bar it will be distinguished between other kennels compare it to this for example you are standing in a big mass of people for example there are thousand people around you and suddenly you see a man which is very tall for example slender man you know who Slender man is you can Google slender man you will see who Slender man is is actually an apparition a big tall slender guy when you see a big tall guy in a mass of thousand two thousand ten thousand people it will be very very familiar because you will know that dead guy is not an ordinary guy that tall man is actually something that stays that strains away from the mass scandalous are staying away from the mass they are staying away from the mass imagine a big stadium football or how Americans call it soccer we call it football big football stadium and when you see 12 people there or I don't know 20 people at the stadium it's not a big it's not a big mass right but when you see thousands ten thousands of people and when you spot a couple of very tall people very strong people so they're staying away from this mass and you know that there is something special at least they're special in their natural mass in their natural height these pin bars are also special they will always stay away from the rest of the candles always guys and you will know that those candles are actually most important candles in now moment now moment guys that's important now moment because you will know that now moment is actually buying or selling compare it to the history and you will have strong manual drone horizontal levels of support and resistance bullish pin bar tail is pinning down so when you see this you know that bullish pin bar tail is pinning down it's rejecting the support it's rejecting the support so that signifies now moment buyers this is frist part price action i will write more about this in nest article. so please comments below and share this.
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