Price Action Strategies

There are basically three types of Price Action traders I've seen identify themselves.

#1 - Those that trade price action without charts via using for example time & sales with bid/ask screens only.

#2 - Those that trade price action with charts but without technical indicators (e.g. macd, rsi, stoc, moving averages, volume)

#3 - Those that trade price action with charts with a few indicators that they don't consider to be technical indicators (e.g. moving averages, volume).

All the above is technical analysis and that's where the debate occurs because I've seen traders from all the above say it's not technical analysis. I've seen even some of Elitetrader.com most well known outspoken TA haters have discussed a few of their traders via a chart example or analyze the markets via charts or use line charts of some economic data to validate the reasons behind their trades.

I've concluded traders can call themselves whatever they want and agree with whom ever they want. Outside of that...it's wasted time & energy in debating about the issue. Similar to some profitable stock traders that do trade futures sometimes (profitably) get on a stage and say there aren't any profitable futures traders. Yeah...I guess everybody is right as to say that there is no right or wrong.



Mark

 

Mark,
I agree, arguing about labels is pointless, trading is hard enough without arguing about the definition of price action trading. I think we can all agree however that price action trading involves making the majority of trading decisions only off of price action setups or price action patterns. The use of indicators may or may not be present, but if you use a couple moving averages to determine trend direction but still mainly derive your entries from price signals, then I think you are mainly a price action trader.

Anyways, here is chart with some current price action setups. This is a 4 hour chart of EURUSD showing a pin bar setup that recently formed off a strong area of support near 1.3450. A counter trend trade indeed, but the pin bar is very well formed.

 

pins on e/u 1hr. markets not open yet so you get lots of whip saws.

 

u/j putting in a hammer on 4hr bars also along its median fork line..bounce?

 

op, hows the trading?

 

Trading is going great. Just focusing on price action setups, strictly pin bars, inside bars, and the fakey setup for me. Will try to post up some examples of trades this upcoming trading week.

 

bump..c'mon op, you laggin

 

hello eveyone

 

you should cross out your account number before posting - this is the wild wild web after all.

 

bidgoli - it would be interesting to see what type of entry/exit startegy you used to post such gains.