IN THIS THREAD: IronFist learns (the elusive) PRICE ACTION

[Redneck]

Quote from nukethewhales31:

your entrance is your problem you are watching the herd and moving with them not preparing for their move

NTW31 said it



But let me try to say the same thing just in a little different way – (hoping to provide an ah ha moment)


Change your time frame, not necessarily on the chart, but in your Head - trading


Trade what you see with “anticipation” of what could happen next

Instead of Trading what you see, while knowing / acknowledging/ trading based on – what has already happened

Just trying to help

 

[IronFist]

I would like to add that I found that first image in this thread (http://www.elitetrader.com/vb/showthread.php?s=&threadid=146049&perpage=30&pagenumber=4) and it is a 3 bar reversal programmed by jychiu.

I found the second image in the AHG 2.0 thread posted by Tums (http://www.elitetrader.com/vb/showthread.php?s=&threadid=145782&perpage=30&pagenumber=2)

I haven't tested them or applied them or anything. I just got excited when I saw them and posted them in here

 

[nkhoi]

Quote from IronFist:

whoa I just found this.

Is this Price Action?

..

it does force you to look at where is the open, the close and how far/close they are from each other, isn't it?

 

[brownsfan019]

Quote from IronFist:

whoa I just found this.

Is this Price Action?

I'm pretty sure a number of people told you to get Suri's book weeks ago.

Maybe now you can go purchase it.

No point of trying to dissect a way to trade off 1 screenshot. Get the book and you'll have the tools.

 

[IronFist]

Quote from nkhoi:

it does force you to look at where is the open, the close and how far/close they are from each other, isn't it?

Yeah, but how is using OHLC bars different from candles?

 

[IronFist]

Quote from brownsfan019:

I'm pretty sure a number of people told you to get Suri's book weeks ago.

Maybe now you can go purchase it.

Waiting on a few medical bills.

I know the book is cheap relative to trading profits and losses. I just have a psychological quirk and like to keep my credit card bills as low as possible.

 

[Bingoking]

Quote from nkhoi:

it does force you to look at where is the open, the close and how far/close they are from each other, isn't it?

Or another way to look at is to look for entries when price has gotten too far away from value. Then try a trade the other way. You can do this on just about any time-frame. Don't try to hit home runs but concentrate on hitting singles and doubles.

 

[IronFist]

Quote from Bingoking:

Or another way to look at is to look for entries when price has gotten too far away from value. Then try a trade the other way. You can do this on just about any time-frame. Don't try to hit home runs but concentrate on hitting singles and doubles.

How do you define "value" here?

 

[nkhoi]

Quote from IronFist:

Yeah, but how is using OHLC bars different from candles?

one word, action.

 

[Bingoking]

Quote from IronFist:

How do you define "value" here?

Another way to say it would be when the market gets into overbought or oversold areas.