EUR/USD & GBP/USD & AUD/USD Forex Trading

Quote from melb-nyc:

... If prices makes a new high and backs off, that is a reversal... - no it does not necessary be a reversal. so you are saying that after 1 or 2 candles of new high and the price backs off and made new low is called a reversal.?

When price continue to make new highs or new lows it doesn't necessary mean there's a big reversal waiting for you. it could just mean that the price settled at one stage waiting for a push or it could just retrace and continue its current trend..

Obviously you need to do some study about price action. Go over your charts again. I give you a hint, closing price after new highs and new lows is a lot more important piece of information than simply a new high and a new low, because it gives you confirmation. and do pay attention on support and resistance, as well as swing high and low.

Avery, with all due respect, if you want to trade and master price action, throw away your indicators. they are all nuisance. forget about being a pirate, be humble, because market will humble you.
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I know price action:

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.

It looks like we do not agree on how to define the term "reversal". Reverse usually means a change in direction opposite of the original direction. Based on that definition, if price makes a new high and changes direction, then price has reversed. This is real not conceptual like support, resistance and trend which exist only in the mind of the trader. This definition of reversal is time frame independent.

My indicators are real time gauges that tell me where price is relative to the current OPEN, HIGH and LOW. They do NOT lag like moving averages. I use them to monitor where price is relative to the daily and weekly open, high and low.

I appreciate your civil reply.
 
Quote from TheRumpledOne:

I know price action:

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.

It looks like we do not agree on how to define the term "reversal". Reverse usually means a change in direction opposite of the original direction. Based on that definition, if price makes a new high and changes direction, then price has reversed. This is real not conceptual like support, resistance and trend which exist only in the mind of the trader. This definition of reversal is time frame independent.

My indicators are real time gauges that tell me where price is relative to the current OPEN, HIGH and LOW. They do NOT lag like moving averages. I use them to monitor where price is relative to the daily and weekly open, high and low.

I appreciate your civil reply.
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To me, you may know price action but you do not know how to fully utilize it. speaking of the mind of a trader is it what makes price moves. but fair enough. your statement says everything of how you trade with price action. good luck with everything.
 
Quote from TheRumpledOne:

When it is not moving it is NOT MOVING. You could call it "resting" if you like.

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hehe, it's 'resting' is it, it's having a rest after a hard day moving up and down....lol, well ok then! :D

Geez Avery buy a book or two about TA and the markets for crissakes, there are hundreds out there, or look around the net at the thousands of free sites and educate yourself about these subjects, it'll be time better spent than playing pirates that's for sure!

It's no wonder you sell indicators instead of trading!

This is so beyond funny it's actually quite sad in a way.....
 
Quote from melb-nyc:

To me, you may know price action but you do not know how to fully utilize it. speaking of the mind of a trader is it what makes price moves. but fair enough. your statement says everything of how you trade with price action. good luck with everything.
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How does one fully utilize price action?
 
Quote from TheRumpledOne:

How does one fully utilize price action?
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Understanding it would be a start!!



Catch you tomorrow guys, have a nice evening.....phew, I need a lie down in a dark room!
 
Quote from cabletrader:

hehe, it's 'resting' is it, it's having a rest after a hard day moving up and down....lol, well ok then! :D

Geez Avery buy a book or two about TA and the markets for crissakes, there are hundreds out there, or look around the net at the thousands of free sites and educate yourself about these subjects, it'll be time better spent than playing pirates that's for sure!

It's no wonder you sell indicators instead of trading!

This is so beyond funny it's actually quite sad in a way.....
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Geez cabletrader, enough already. If you don't believe I trade then come watch me trade. Plenty of people have seen me trade live.

If 95% of traders lose and most fund managers can't beat the index when they have access to the best minds, equipment and information, do you really believe reading traditional trading books is of any use? You have got to be joking!! Based on empirical evidence, one would steer clear of what is being sold as trading education if they have at least 2 brain cells on active duty.

I would rather "play pirates" and drain the banks than waste my time studying trading methodology (mythology) that is a proven failure.
 
Quote from cabletrader:
It's no wonder you sell indicators instead of trading!
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cabletrader, if I were in the business of selling indicators I would:

1) have a website that sells indicators

2) sell each indicator individually

Since I don't have 1 and 2, it should be plainly obvious that I am not in the business of selling indicators.

What I do is not a business model.

It is really a pity you spend so much time putting me and others down, when you could take that same time and share the knowledge that you claim to have and help your fellow traders.
 
Quote from TheRumpledOne:

How does one fully utilize price action?
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The answer lies in front of you. If you still don't get it. Do try trade and made consistent profit with your chart and nothing on it.
 
Quote from melb-nyc:

The answer lies in front of you. If you still don't get it. Do try trade and made consistent profit with your chart and nothing on it.
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Let's not play coy!

I defined and explained my terms and methods.

Please do the same.
 
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Once again, price REVERSED out of the area from the high of the day to high of the day minus 20 pips.
 
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