How I trade Price Action



I use New York Close candles. www.fxlite.com or www.tradestation.com provide these charts. Each day when I wake up , I scan through the following currency pairs I identify any obvious price action signals such as an inside  bar, a pin bar, or a Fakey setup.  If I spot inside bar formations with the trend, I look for continuations, but if its against the mid term trend , I note a potential Fakey is  in the making, remember, the  Fakey setup is  unconfirmed at this point, so that’s a pending trigger I note. After a daily  pin bar I  typically will  wait for a 38-55% retrace of  the pin bar to enter. If the market is trending, certainly I try  to take daily pin bars instantly if   the trend was already strong and moving fast.
I will have already had key support and resistance marked on my charts, but I will then amend these lines on the charts if things  have changed overnight. A move in the markets will obviously  change my key short term swing support and resistance, so I note thos e levels clearly. I tak e note of the current short term  trend on the 8 and 21 day EMA chart as well as the 1 hour 150 and 365 EMA. I bring it all together and decide what setups I lik e.  I decide if the mark et is  at a trend line, following moving averages, or nearing  obvious short term or long term horizontal support and resistance etc . Do the any signals occur  near the relevant areas  or did they  form with the broader trend?  If the market was previously  going sideways, was there any obvious intraday trend move that broke a key support or resistance level  overnight? If there was, I need to note that  level on my chart.




Most Fakey setups work best with trending markets, or right next to support or resistance, or key retracement points, so the trigger is  only taken if I can clearly decipher this Daily  Inside bars are taken if they clearly form with an existing s trong trend, when I take an inside bar break out, ideally I want the  inside bar to have been the tightest bar  than the last 4 or even 7 days. (nr4 and nr 7 days ). The less nearby resistance or support ,  the more potential the inside bar pattern has to move in our favor, if there is a nearby level, you might want to wait for support or  resistance to break before entering inside bar. Daily  inside bars are noted regardles s because they can become a Fakey setup. If there is a strong trend on the daily  chart, with a clear stepping price action in once direction, I will be actively  looking to enter a  trade in the direction of that trend, using a counter trend move to enter at  the 8 21 or 50  day EMA  “value” areas. This applies to the  hourly trend charts as well. Daily  pin bar with an inside bar after it is powerful and trigger is usually taken every  time if the trend agrees, or if the signal occurs at  or near a very obvious significant key horizontal level.

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