Today had produced some interesting price action plays, so I wanted to share with you two trades that I took today. While the NZDUSD has been stuck in a range for the last two days, I have been playing the consolidation range which has held up nicely. Being that the Kiwi tends to be a little slow at times moving at a tortuga pace, I noticed a few price action setups in Silver XAGUSD and took a couple of intraday plays. It is these two trades I am going to be dissecting for you from a price action perspective. I am also going to be sharing how I used quantitative price action data on the intraday volatility for Silver to aid my trades. Taking a look at the chart below 3min on silverfollowing the grey vertical line which represents the London open, we can see price starts out a little choppy. If this continues, then I will look for a reversion to the mean play. Since no one dominant player is directing the market, there is still a tug of war going on with both sides being relatively equal. This means price will continue to revert back to the mean until someone takes control. Thus, I will look for reversal plays. As you can see by the price action, the small swing down was about the same strength as the small swing up. At about the 2. This is a reversal signal and definitely leaves me the chance to make my reversal play. These two things combined told me to put the trade on hold so I passed. Look at the chart below to see the resulting price action. Initially, when the price action hit the prior SH swing highit sold off at a steady pace. But noticed how it picked up with a very large red bar toward the end, making a quick rejection low. This increase in the size of the bar communicated stronger selling participation. But it also had a small rejection to the downside followed by a gentle pullback perhaps exhaustion. This was a small clue there might be orders close to the lows of the prior pinbar, so I watched for the price action to give me a lower low. As you can see at the very end of the chart, it did, forming a double-pinbar. This double-pinbar formation communicated to me from a price action perspective two things; 1 not only was the first pinbar rejection a likely higher low offering me a good R: It failed at exactly the same price yet this time closed up on the bar. Combine this with the fact price was still staying below its normal intraday volatility levels, and I had all the ingredients for a nice reversal play. Below is how the trade played out. After hitting the first play on silver, it started to go on a run as it broke the SH swing high. I want you to take a look at the next chart which shows the rise and fall of the shiny metal and take a intraday at the key difference between the two moves. See if you can spot the two subtle clues which communicated to me what I wanted to play. First, notice how the angle of the two moves and the subtle strategies. The buy up was a pretty sharp angle, while the sell-off, although impulsive in nature, had a flatter angle. This flatter angle communicated to me there was less strength in the selling then there was strategies the buying. Secondly, look at the nature of the buying and selling. The buying was almost straight up with very small pullbacks telling me the buyers were quite dominant. While in the pullback, there was a see-saw type action, telling me the sellers were a less dominantand b there was a fight going on between the buyers and the sellers unlike in the upmove. Intraday all communicated to me via price action the market was likely going to reverse back up so I should look for a long after seeing a market structure change. On the next chart below, shortly after the bottom, I got my market structure change. After bouncing off the low, the price actually bounced back into the prior range of the last pullback suggesting the buyers were starting to wrestle control from the sellers. When I see that, I am going to buy that. R which was fine with me. The market then climbed for the next 5 out of 6 candles suggesting the buyers had come in just before my move and I was riding the momentum of their buying. After a small rejection, the market went sideways, so since the bulls were still in control and had not conceded it, I stayed in. Shortly, after a little further buying and small pullback, the target was achieved taking out the Swing High for the day as you can see in the chart below. This is exactly how I took each trade, found my entry, stop, and limits — all using pure price action analysis, combined with favorable R: This should give you an insight of how you can trade price action. By learning to read the market structure, looking for changes and subtle clues, then taking the most favorable plays that present themselves. I would like to add that even though I am trading on a smaller time frame, I am not necessarily looking to be significantly more active. I am exploiting the same price action setups I see on the 1hr, 4hr and daily time frames. In fact, my methodology is really the same — wherein I am looking for a couple really high quality setups with very favorable R: These can be found every day, whether you are trading the 3min time frame, or the 1hr, 4hr and dailies. Your ability to read price action and all the clues will help you to spot the best opportunities, where the big players are driving the market, and how to find high quality setups. I'm Chris CapreFounder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my strategies lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page. That gives you an edge. Often times, one gets whipsawed by the noise on the lower timeframes. Tis an important question. Noise rarely has consistency to it, therefore you are often going to find a lot of wicks and intraday movements. Fascinating, this is just brilliant. Hi chirs this is really really amazing but I have a doubt about one thing in chart number 6 as that looks liked a very interesting opportunity although it failed but still I would have taken it. I am not a course member but I follow only you i educate myself from all your free articles and free videos and I have been wanting to join from ages but its just not happening but I hope to join soon and I highly admire your trading style and perpespetive the way you trade is really very amazing and professional standard. In chart Number 6 when the price made a lower low LL you can actually see that after that the price started a corrective move which took a total of 8 bars 7 blue,2 red to reach approx near the prior swing point in down move which you have marked on the chart Now as this is a corrective move due to the fact it took 8 candles to reach forex the high of the previous pin bar which resulted in those final impulsive move while this same previous pin bar including itself took a total of 3 candle impulsive intraday Now if you notice the 8th bar in the corrective phase that started forming after making a lower low the 8th bar is actually itself a bearish pin bar just happening at the middle of 20 ema and just a little low below the prior swing high of the previous pin bar. Hello Criss Sir, I am reading your teachings regularly one by one. I am feeling elevated after each lesson. Excellent content in very simple language. Kind Regards ravi shankar. I am glad you are going through the teachings and finding them elevating your perspective on trading price action. Would you recommend these same PA principles to scalping the 5 min chart? Also requires the right mindset and natural disposition towards it. What you say makes sense. I would like to at least give it a try. Do you teach any form of scalp trading? The models of price action we teach can be taught on any instrument, time frame or environment. Hence if you want to scalp with our methods, you certainly can. NO FINANCIAL ADVICE - The Information on 2ndSkiesForex. The information contained in or provided from forex through this site is not intended to strategies and does not constitute financial advice, investment advice, trading advice or any other advice. The information on this site and provided from or trading this site is general in nature and is not specific to you the user or anyone else. You understand that you are using any and all information available on or through this site AT YOUR OWN RISK. RISK STATEMENT - The trading of foreign currency, stocks, futures, commodities, index futures or any other securities has potential rewards, and it also has potential risks involved. Trading may not be suitable for all users of this website. Anyone wishing to invest should seek his or her own independent financial or professional advice. Sign up now to receive a free ebook on How to Get an Edge trading the Forex markets. As a bonus for signing up, you will also get exclusive access to our monthly newsletter, which contains insights not published on the website. Trading Beginners Course What Is Price Action? Price Action Skills Trade Signals Strategies Videos Courses Advanced Price Action Course Advanced Ichimoku Course Advanced Mindset Course Private Mentoring Free Beginners Course About Making an Impact Testimonials Contact Tools Risk of Ruin Calculator Position Size Calculator Customized Learning. Intraday Price Action Trading — Reading Forex Price Action 74 Engagements. R play, but… 2 the second rejection was telling me after price made the first pinbar rejection, the market tried a second attempt to make a new low and failed. Chris Capre Forex, Trader and Philanthropist. Want to Learn Price Action Strategies for Trading Forex? Sign Up for our Monthly Newsletter and Get our FREE E-Book. You Trading Also Enjoy. I forex from the best. Gracias amigo, now its your turn trading start making plays like these. Hope this helps CC. Hello Baback, Like all things, with practice and time they trading come naturally. I want to say thank you for this nice post and good luck. Thanks Jiri, Glad you liked the article. Hello Forex, Thanks for the positive comments and glad you enjoyed it. Kind Regards, Chris Capre. Hello Ravi, I am glad you are going through the teachings and finding them elevating your perspective on trading price action. Intraday to work with you soon sometime in the course. Hello Jac, Our core PA models work on any time or instrument. Whats your opinion on scalp trading? Trading With Price Action Context Engagements. My End Of Year Message To You From 2ndSkiesForex 0 Engagements. How We Change Your Trading Mindset at 2ndSkiesForex 0 Engagements. Video Why Confirmation Price Action Signals Crush Your Trading Success 3 Engagements. Set and Forget Price Action Trading 1 Engagements. Video Why You Need an Optimistic Mindset To Succeed 3 Engagements. How To Perform Under Pressure 1 Engagements. How To Build Your Emotional IQ In 4 Easy Steps Engagements. How to Prepare For Your Trading Day in 5 Simple Steps Engagements. 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My 50 pips a day strategy trading FOREX CFDs - VERY SIMPLE STRATEGY (Your capital may be at risk)
My 50 pips a day strategy trading FOREX CFDs - VERY SIMPLE STRATEGY (Your capital may be at risk)
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