Spend a lot more time looking at your charts and see how price has reacted and reversed in the past and understand why it does so.
Remember, if price is heading to a resistance level, you are looking for a bearish reversal candlestick pattern to sell (or go short).
If price is heading down to a support level, then should be looking for a bullish reversal candlestick pattern to buy (or go long).
I hope this forex chart will shed some light on what I’m talking about in here about trading price action reversals. Well, now that you know what type of reversal candlesticks to watch for, you wait until price reaches the support or the resistance level and then you take your trade or trades.
Trading price action reversals an easy process if you learn to identify support and resistance levels and you know what specific reversal candlestick patterns to look for. If you are interested, click this link: best list of free forex trading strategies on this website, check it out. Well, if you have been watching only in the 4hr timeframe and you do not see any reversal candlestick patterns and price moves away from the support or resistance level than as far as I am concerned, you’ve missed your entry. They have decided that the Holy Grail is Price Action Trading, which focuses on trading without any indicator.But I hold a different opinion.
In fact, price action is how I trade.However, price action trading is just another method of analysis. Remember this when you are browsing for any trading strategy.I had to bring up that point because, in my research for this list, I came across many websites filled with sales pitches.
Al BrooksWith his three tomes on price action trading, Al Brooks has become an authority on price action trading.
On his website, you will find his commentary of price action analysis of S&P 500 E-mini.
Trading NakedPrice Action and the Patterns It Creates is a directory of articles on a variety of price action trading techniques.Despite the lack of updates, this website does not try to sell you anything.
Forex School OnlineLike Chris Capre, Jonathan Fox of Forex School Online has a great price action trading thread at Babypips as well.It is a very serious thread on price action trading.
Cancel reply Get Updates via EmailSubscribe for TSR updates and get a free eBook - “Day Trading with the Anti-Climax Pattern”. I have read and studied virtually all the price action education material I have been able to get my hands on.
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