A foundational concept in "pure" price action trading that underlies all trading decisions is that price will never "exactly" repeat itself. What I mean by exactly is that
current and future price will never be 100% identical to past price. At first glance it may seem the same, but when boiled down to the lower time frames, you'll notice
that current price is...
When trading price action, it's crucial that you understand the story of the currency pair you are trading.For what current price is doing is only valuable in the overall context of what a currency pair has been doing.Just like reading a book or watching a movie, watching it from the half-way point won't allow you to understand what's happening; for current...
Hey Guys!
As traders, we always want the sense of being one step ahead of the market. In other words, what's happening with current price should not be of consequence to your trading. It's just another bit of information that's
added into your analysis of what will happen next. Now the polar opposite of this situation is chasing the market. Where a trader is...
Hey Guys!
I know price action trading can be somewhat a mysterious and confusing style of trading. So I just wanted to jot down the basic characteristics of price action trading to help clarify this ambiguous trading style.
#1 Price action trading only uses price action to make trading decisions. No indicators, fundamental analysis, intermarket analysis, etc......
Hey Guys!
As you guys know I aborted 2 short entries on the NZD/USD pair yesterday to minimize my losses.
In this lesson, I'll explain how I knew to abort the short entries early by reading 1 minute price action and thus minimize the loss.
Enjoy!
Have a great day!
Ken
Hey Guys!
As you guys know the current NZD/USD daily bias is short. Or in other words, price is likely to reach 0.6591 before reaching 0.6731.
So on my last post, I mentioned I took a short entry at 0.6722 with a stop loss at 0.6591 with its main target at 0.6591 for the time being.
In this Price action lesson, I just wanted to briefly explain how I read price...
Hey Guys!
Here's a simple explanation of Price Action Trading!
In its very essence, Price Action Trading is about letting price tell you where it's headed in the future. No indicators or fundamental analysis. Just price alone will do. But in order to know what price is telling you, you must first learn "how to read price". Think of this as a language. Just like...
Hey Guys!
As you guys know, I'm currently waiting for a pullback to the 1.3313 levels for a long entry on the GBP/USD.
In order to know whether or not I will get this pullback, I look to the lower time frames to see how much long strength or short strength there is.
Now in this case, I want price to come down to my entry level, thus am looking for signs of...
