Can you trade by price action alone?

[slipchamber]

is there anybody here who thinks they can trade soley on price action alone?

 

[HustleThePlanet]

Yes

 

[hitnrun]

absolutely

 

[FreakofNature]

Is this the technique that no one can teach but everyone claims it takes 10,000 hours to learn ?

FoN

 

[zjulian104]

Yes. I don't recommend it though. You'll get lucky and catch some big moves until you get trapped. You need at a bare minimum a momentum indicator with the default numbers reduced to navigate trend changes. Nearly every trend change traps traders in both directions: jump-starters hoping for the 15 minute 10% rally, and conservative position or swing traders covering but caught off guard trying to re-enter in the same direction. Volume in these instances also helps tip clues.

If you insist: look for better than 30% and 50% retraces and then expect traps until advantage is regained. One word: "response". Rally...Test.

 

[Lucrum]

Yes

 

[SK0]

Price action with lateral support and resistance won't work in giving you profits consistently.

 

[marceck]

Al Brooks is the guy. Here is a free webinar:

http://www.bigmiketrading.com/webinars/jun29_2011/al_brooks_price_action/

 

[Joe Doaks]

Like falling into a log.

 

[Zr1Trader]

I use price only with some math on the side and proper chart configurations.

296 cents today out of CL gyrations.

Just trade structure of the market , price always must go up and down.


1 min chart is only for illustration, not what I use.