What do you focus on in price actions?
- Thread starter Amatrue
- Start date
Depends on your strategy and its granularity. The more granular, the more important each component of a price bar becomes to really hone entries/exits, but if your strategy is more blunt (for lack of a better word), then general support/resistance (with maybe some general indicators overlaid) is enough to trigger a trade. The former, generally speaking, is used by scalpers who value each tick, the latter is for folks who are looking for larger moves, probably use wider stops and don't nitpick over a tick or two.
These are generalities of course. But price action analysis runs the gamut.
These are generalities of course. But price action analysis runs the gamut.
Scalpers do, swingers don't except they are near stops or near targets.
both
Different people will give you different answers.
Using only price action really just means not using indicators.
Some look at individuals bars, others look at the entire price action on the chart and others do not look at charts because they're looking at DOM data.
wrbtrader
I focus on the bullish/bearish pressures as they are graphically drawn out on the chart in the larger context and the immediate context and then the probability of the winning side winning for at least a little bit more. Then I look for a setup within that immediate context and take a position. If neither side is clearly stronger but both are about equal say as in a range then I use different trading tactics to take advantage of those pressures being about equal.
Hello Amatrue,
To me, price action is simply waking up in the morning, opening the chart, look for trend, or support or resistance.
For instance, here. I just woke up, looks like trend is upward, price came to support, nice bullish bars, I enter long at green dot, profit target at purple dot, stop loss at orange dot.
I do not care about anything else to the left of the chart. If i win, I win, if I lose, I lose on this trade.
On this trade I loss -$300. log it in the spreadsheet for ongoing performance calculations. Get read for the next trade.
As you see from this chart, there is a head and shoulder pattern now, and price breaking strongly the recent support area. So I will going short soon, if price has some follow through. Or I may go long at the support area. Just have to wait and see what price shows me.
Note: I am currently a non profitable day trader. I am not a consistent profitable trader, yet. Please take my comments as my own personal experience.
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i like your candidness . Few trader admits that
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Including but limited to all that...……………..Also where price is to a 200 day moving average; wisdom is profitable to direct.
A commercial logger or forester is interested in the whole private sector forest.