IN THIS THREAD: IronFist learns (the elusive) PRICE ACTION

rate decision..... lol

short on trend breakout

 

i'll be back in this thread tomorrow or friday. im away and posting from my phone so i cant really view charts or anything.

 

I am curious, after you said you were focusing on price action the last couple of months, where do you think your trading stands? Colossal waste of time or definite improvement?

 

descending tops cut-through compressing against 15M 2 day support line ... looking to break.

 

Triangular base PT

 

heres some more price action for you to learn from

usd/chf:
1) --> UC pulls back from its up trend

2) --> 9 candles to the left was the start of an uptrend
but i didnt take the long there because it made hh's and ll's than the candle before it (trade ignored...wait longer ).

3) --> 3 candles to the left, price is moving up, but yet again, it made HH's and LL's than the candle before it ( trade ignored, wait another 4hrs )

4) --> 2 candles to the left, price makes HH's, and i enter 1 pip above highs, and set stops at previous candle lows

5) --> 19 candles to the left, price comes into resistance, and i take my profits

 

Here is aud/usd (i didnt take this but heres my analysis)

1) ---> Price hits lows, 22 bars to the left would be entry

2) --> 6600 would be my target. take off 90% and move stops up to every new low till you get stopped.

---

short

1) --> 2 bars to the left was short entry, but it rallied above last candle highs and would probably have stopped me out, however if not, my target would of been hit at 6600

 

i think im getting better. when i made this thread i felt paralyzed without indicators. now, not so much, plus i used to spend hours a week trying to program a holy grail indicator and now i dont care about that so much anymore.

*occassionally* i will see a chart pattern and think "oh, that makes sense".

i still dont feel that there is any edge to be attained by volume.


as far as results, i still look back at each day's chart and see how much better i would have done following my old indiactor based system, BUT i think im still in the "unlearning" phase. Fortunately, some of the profitable indicator-based trades i see are supported by PA. that makes me optimistic.

posted from my phone. more later.

 

I would agree with you on this...

 

Ironfist,

I'm unsubscriting to this thread as when I get alerts now, it's mostly BS posts, but I wanted to thank you for starting it.

If there is a way to really focus on the methods of trading using PA, I'm always up for learning more, but,maybe that needs to be done in a different forum. Maybe, a private blog or something.