The price action trading strategies that I use and teach in my price action course consist of support and resistance levels (price action) combined with pin bars, inside bars and 8775 pinside 8776 bars (trading strategies).
Price Action Trading || Meaning, System, Strategies
The Price Action Trading Strategy Guide
The result is that you see price bouncing off support and resistance levels. The secret to this trade and to increase the probability of either support/resistance holding/breaking, by using price action analysis that will give you a heads up of the probably outcome. (I say probable not guaranteed!)
The key takeaway is you want the retracement to be less than %. If so, when the stock attempts to test the previous swing high or low, there is a greater chance the breakout will hold and continue in the direction of the primary trend.
We have already mentioned that the Price Action trading approach is all about analyzing the actions of the buyers and sellers that operate in the financial market. To learn that very approach we need to pay attention to the Price Action indicator. Candlestick is known to be very useful as an indicator because it conveys all the information trader needs - open, high, low, and close values for each time period trader wants to display. To make it easier to grasp, let us have a look at the example:
Price action traders will need to resist the urge to add additional indicators to your system. You will have to stay away from the latest holy grail indicator that will solve all your problems when you are going through a downturn.
You are most welcome to enjoy my FREE price action trading course which will (hopefully) have you profiting from the various strategies that are covered. If you like the course, please send me a review of it.
Mentor Nial, thanks so much for your concern and introduction to price action strategy, am now off to go now Mr Nial, thanks so much
Stop Loss can be placed below a new low, and traders can enter the market when a candlestick opens following a bullish pattern. Since theoretically, Harami appears at the beginning of an uptrend, traders can use several target levels to get the most out of the entire uptrend range. These targets can be located at the last support and resistance levels.
You can also take a look through a listing of some simple Forex trading strategies that, again, even beginners into the trading world can start to utilize.
Some people would like to know if these price action trading strategies can be used intraday. You certainly can use them on any time frame but I find these work better on higher time frame chart.