Price Action Journal V1.5

Quote from Garyasdf:

Anek on Confluence, dated Jan 15th, 2008.
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I wont even ask what "ron Jeremy" play is :D but it looks to me like it is a 1-2-3 reversal.. (or a variation of it)

I have been watching these patterns and they seem to be pretty reliable and relatively safe...

Suri Dudella speaks and illustrates about these in his book (original concept made knows from Victor Sperandeo), and it basically is a trend (downtrend in this case) with a trendline drawn along it. Once this line is broken, wait for a retest of the trendline (in this case, resistance becomes support)....

If it fails to make new lows, and holds this trendline look for an entry to the opposite the previous trend.

http://www.dacharts.com/123.htm
 
I saw most success PA traders are ES/NQ daytraders. I'm just wondering if there is any traders who successfully applies PA on FOREX? I have read and tried the knowledge I got here onto FOREX, and I don't know whether it's because I still need more screen time, or it's because FOREX is not a good market for PA? If it's the former, I'll just spend more time. Otherwise, I'll head for ES/NQ.

And if the answer is yes, is there any big difference between FOREX and ES/NQ when using PA?

Thanks.
 
Quote from nirvanatiger:

I saw most success PA traders are ES/NQ daytraders. I'm just wondering if there is any traders who successfully applies PA on FOREX? I have read and tried the knowledge I got here onto FOREX, and I don't know whether it's because I still need more screen time, or it's because FOREX is not a good market for PA? If it's the former, I'll just spend more time. Otherwise, I'll head for ES/NQ.

And if the answer is yes, is there any big difference between FOREX and ES/NQ when using PA?

Thanks.
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I would find it hard to trade w/o volume in interbank FOREX.

If FOREX respects S/R... PA trading might still be good.

I only trade ES.
 
some brokers have forex futures that track with real forex price action... there are usually only 6-8 currencies, but if you already trade es/nq/tf using PA, then you can trade forex futures.

cheers

toucan
 
Quote from toucan:

some brokers have forex futures that track with real forex price action... there are usually only 6-8 currencies, but if you already trade es/nq/tf using PA, then you can trade forex futures.

cheers

toucan
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So are you saying it's definitely possible to trade forex profitly using PA? Do you see any big difference when trading FOREX?
 
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