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Author Topic: Price action trading with indicators!  (Read 5337 times)

Offline joffie

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Price action trading with indicators!
« on: April 02, 2016, 11:13:14 AM »
Hi everyone,

been a long time since I've been here in the forum. Been learning lots more trading ideas with regards to price action trading and joined a lot of groups along the way. Even though you can trade very sucsessfully with just price action and support and resistance, there are alot of traders out there who just find this very hard to be profitable.

I would like to share my experiences and how I trade now to hopefully help new and old traders who want to learn to trade price action but also like to see those colourful indicators on their charts ;)

I'm going to post a few charts now showing recent trades that I have taken using this method and let you all have a ponder over the charts and then you can ask any questions about the methods I am using. I wont go into detail now how or why I took the trade, but hopfully we can all work together and make this a fun trading thread regarding price action and indicators!

so bye for now and have a great weekend where ever you are in the world   :D

joffie
« Last Edit: April 02, 2016, 11:15:37 AM by joffie »

Offline joffie

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Re: Price action trading with indicators!
« Reply #1 on: April 02, 2016, 11:15:11 AM »
More charts

Offline drunkfx

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Re: Price action trading with indicators!
« Reply #2 on: April 02, 2016, 11:37:26 AM »
Without explanations its really hard to get it. Where are entries and quits (how they marked) what was the signal for entry (some confluence of indicator signals or something else)? Would really appreciate if you add some more details to your inputs.
Btw, Your first trades looks like based on some trend analysis described in my article http://brokerarena.com/education/trend-line-a-basic-analysis/
Thanks.

Offline joffie

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Re: Price action trading with indicators!
« Reply #3 on: April 02, 2016, 11:56:12 AM »
All entries are based on price action of support and resistance. But I've added the indicators to add confluence. There is no need to use them but the bands with three lines show overbought and oversold areas. The two bottom indicators show overbought and oversold areas also with divergence as shown with lines on bottom indy and chart. Entries all based from engulfing, inside candles, pin bars etc.

When the bands point up show a up trend then using broken resistance as support and confirmed with a break outside the bands at a extreme along with the two bottom indicators and a price action signal, with fib retracement levels

If you point out a particular trade I will walk you through the process.

Joffie

Offline Earleone

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Re: Price action trading with indicators!
« Reply #4 on: April 02, 2016, 09:32:25 PM »
Seems like you have a solid method here tnx for sharing :) .

Do you have any statistics for the method. And do you trail the trades and lock in BE or do you let them run to TP/SL ?

Possible for you to share the indicators too?

Offline joffie

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Re: Price action trading with indicators!
« Reply #5 on: April 03, 2016, 03:03:10 PM »
I dont have any statistics to share at this time, but I will try to post live trades as I see them. Yes I move to break even once price moves into profit, this is really a judgement call when you do this, and I also will lock in profit as price moves to my targets.

The two indicators you see on my charts I can't share, but these are just stochastics with these settings...

top stochastic (price action) are 3 stochastics with the signal line on each set to none for colour. First stoch set to 32-3-3 being the thicker green line, 2nd stoch is 16-3-3 which is the blue line and the last overlay is 8-3-3 which is the red line.

bottom stochastic (trend momentum) is just settings 14-3-7

I have attached the other indicators being the bands and arrows on the chart. now the arrows are a free indicator method I found online, they repaint, but the use is purely for previous levels of support and resistance to make it at a glance to find them. The bands will also repaint slightly but not enough to worry about when using them with price action. I have attached a chart to show the stochastics look nearly the same as I am using. Now the thing here is you are not using any of the indicators to trade with but just for a confluence to confirm your price action entry.

hope this helps joffie

Offline Earleone

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Re: Price action trading with indicators!
« Reply #6 on: April 03, 2016, 06:35:34 PM »
Great, thank you.

Will try to get some trades with this method. I see great potential.

Yes I expected the indicator repainted . Will test and see. Looks nice anyway :)

Offline joffie

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Re: Price action trading with indicators!
« Reply #7 on: April 04, 2016, 06:56:19 AM »
Watching eurgbp for a sell of Friday's high today, also a buy on gbpjpy off Friday's low
« Last Edit: April 04, 2016, 07:01:37 AM by joffie »

Offline qprfc777

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Re: Price action trading with indicators!
« Reply #8 on: April 18, 2016, 02:09:34 PM »
joffie
Thanks for the share i like it lots.
Kind Regards
;D

Offline drunkfx

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Re: Price action trading with indicators!
« Reply #9 on: May 07, 2016, 01:56:01 PM »
Quote from: joffie link=msg=353829 date=1459749379

Watching eurgbp for a sell of Friday's high today, also a buy on gbpjpy off Friday's low


I don't recommend you to open positions before weekend close as you can burn your fingers with spread widening on Friday close. Its no wonder if you get stopped out by 30-40 pips slippage on some crosses. I always close open positions in Friday ob my Hotforex platform because of that reason and advice you to do so, especially if you open big lot order or hold SL's too close to price entry.

 

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