Price Action Strategies

Discussion in 'Strategy Building' started by krtrader09, Dec 23, 2009.

  1. [​IMG]
     
    #21     Dec 31, 2009
  2. The above trade would have been entered on a break of the high of the pin bar with a stop loss just below it's low. Target is set at 1.0700 resistance at the top of the range.
     
    #22     Dec 31, 2009
  3. croupier

    croupier

    What does the chart show? usd/chf? And in what timeframe?

    Please post more details, thanks :)
     
    #23     Dec 31, 2009
  4. The above chart is Daily USD/CAD. Sorry.
     
    #24     Dec 31, 2009
  5. LOL. The whole thing was a bait to the master's site :)

    If you don't like spammers, hit the complain button on his last post.
     
    #25     Jan 4, 2010
  6. I guess I help set that up, my bad.
     
    #26     Jan 5, 2010
  7. Nothing was a bait. I forgot we can't post links on here. I just wanted to share where I have been learning price action from. Anyways, here is another interesting price action setup:

    DAILY AUD/USD

    [​IMG]

    Entry: Market at close; .9118
    Stop Loss: High of pin; .9175
    Target: Support; .9005

    Risk = 57
    Reward = 113
    (approx. 1:2)
     
    #27     Jan 5, 2010
  8. why would you have not taken the previos (almost identical) pinbar?

     
    #28     Jan 6, 2010
  9. or the pin bar 2 bars ago?
     
    #29     Jan 6, 2010
  10. I can see why you wouldn't have taken this one. If the strategy is based on continuation of the prevailing trend, the pin bar two bars back never gave you an entry signal. No breakdown through the low of that bar. The previous one, though, dated near the 1st of December and located just after the green bar, looks to me like a valid signal based on what he's describing.
     
    #30     Jan 6, 2010