Best Price Action Forex Trading Strategies (3 Major Keys To Be A Profitable Forex Trader)
all right we're live so i just wanted to just jump on here and it's been about a week since i looked at the marcus and i kind of took the last week off and the best way that for me that i analyzed the markets is while i'm teaching so i'm just going to be the beneficiary of that but i just want to jump on here also to add value maybe clarify some things with you know people that want to know how to trade want to know what they're looking at when they look at the markets and different things like that so let's just jump right into it so the way that i look at the way i look at the markets is you know what i like to simplify things so what you're looking at now is just a trading strategy set that i created um that basically all it does is just makes market structure and price action easy to comprehend so like you know i can do it without the indicators but i just think you know people have kind of the wrong idea with indicators the way that i look at it is just a way to lower the amount of information that you have to process and if the indicators can process information for you then they work for you but if they're taking away what's important to the markets what's important to you making the correct trades then that's when indicators get in the way but as long as you can find something that is lowering the amount of information that you have to process for your own strategy then that you're using the indicators in a correct manner so let's just get into it just to kind of briefly go over the way that i trade you know even without indicators you know i'm more of a market structured trader so i look at price action the structure of that price action you know there's three there's three components of any strategy trend structure and momentum every strategy has a co has a combination of this it uses that and i guess it puts that into effect when it comes to that strategy any strategy really you know it could be a counter-trench strategy or a trend strategy it could use structure at lower points like you structured higher points and the trend is all or this trade is always confirmed when the momentum is in the favor of that trade you know in an uptrend it's basically higher highs and higher lows you're going to see that everywhere you go in an uptrend if it's not doing that it's not an uptrend downtrend you see lower lows followed by lower high followed by a lower low more high lower low as long as that's happening it's a downtrend now what confuses most traders is that when you have you know all the i guess noise in the forex market it's hard to determine your trend you know without kind of zooming out and kind of seeing if it's making higher highs and higher lows or if it's making uh lower lows and lower highs and then that's just for trending you got to figure out what the structure is you know if there's any 4x patterns being generated or any price levels to pay attention to so when it comes to all those things you know sometimes for newer people that's harder to grasp without an indicator for me i like using indicators just to be able to see what i want to see faster and if i can see what i want to see faster then i'm winning because that means i don't have to trade as long i don't have to second-guess myself i can see what i want to see and keep going so if we go back to this when you're buying the idea is not to buy here like all the you know newbie crypto traders you know they see a high and then they buy at the high and then it dips and then they sell so lost money there and then they lose out on this and it's like oh man i should have bought they buy here it's just this repeated pattern over and over again you know don't trade like you know newbie crypto traders or investors whatever you want to call them the way you buy is you buy at the lows and you sell it the high so you can catch the longer move in an uptrend the up move is going to be longer than the down move the downtrend the down move is going to be longer than the up move so to catch the move at the best point if you're buying you want to buy at a low point and if you're selling you want to sell it a high point to follow the trend so that's basically how i trade it's as simple as that so what i use this for is to basically lower the amount of i guess analysis that i have to do if i just take that away take out if i take that away now it becomes a little bit more congested it becomes a little bit more that i have to look at now i don't know if it's an uptrend or a downtrend you know based off of that high i could assume it's an uptrend but i have to kind of look at things a little bit click a little bit uh more in detail and kind of map things out and you know the way i trade is about efficiency so if you can be efficient what you do then you can make clearer and wiser decisions but if let's say if i was to do it without in the case which i can perfectly do it you know you just simply zoom out you know you may have to go out a time frame may have to go out of time frame and simply find the structure the trend first so the trend you can see is an upward trend you know so trend is checked the second thing would be structure now structure you can do it in a couple of different ways you can use just the price levels to where you see where these i guess highs are being created or these taps on the market you can identify that as a evident piece of structure and mark that out you see where it's making common areas there on here here here here and here see that little line if you see this follow his crosshair you can see that there's a lot of action happening when when price touches that line so that would be a clue of structure so now you know you have an idea of training you have an idea of structure now if we go closer to clearing markets you want to see where the momentum starts so if i look at you know you got trend structure momentum so where would you where would you consider momentum to be happening in the markets it's where the larger moves are made or where the larger moves start so the move that comes into mind immediately would be this move here will be this move here so that would be a momentum move because it went straight up this right here would be a momentum move it's because the markets are decisive in where they're going at this particular time so if i map out the momentum if i map out the momentum of the markets then i can find areas where momentum likely starts because everybody has you know what they consider support and resistance you know the way i consider it is where where structure and momentum meet so if i go let me actually go back if i go and mark up where that point started the momentum started here right in this area see if i can make it bigger the momentum started there and then for this up move the momentum started here a lot of people don't teach where something starts because where something start is what a strength is if you think about it it takes a lot of interest for the markets to move so a lot of people they teach you know to pay attention to where the mark the momentum stops but why would you pay more attention to where the momentum stops instead of paying more attention to where the momentum begins so if you identify those points in the market then you can have a better idea of where the interest lies because you want to trade with the larger interest and not necessarily the mass of interest but the mass meaning money not necessarily people because not everybody you know the majority of people don't really do well with trading but the minority are the people with large accounts you know the institutions and things like that and you want to pay attention to where those moves are happening in the markets doing one more got one more here so you see that's where those moves are happening in the market so now i can take this away so that way it's less less stuff on here so you see these moves happening there so now now you want to look for where trailers train the momentum meet so if i if i already identified the past momentum points here i want to see if there's structure at that momentum point so i would simply see here their structure prices finding a support or supply zone here or demand zone more so here you know price finds the demand zone you see right there find the supply and that supply turn into demand with or people call it resistance turn into support supply and demand is more of the real term so you got there supply demand right in here supply demand here so as you see you can mark up the charts you know with the right amount of knowledge looking for trend structure momentum it's basically what it comes down to so if you can mark up the charts but you can see that it takes a little bit more effort to do it you know to the naked eye very clean chart very clean markup things like that but it takes more takes more effort and to do that for multiple pairs you know it could be a lot that's why the a good teaching a good saying is to stick with just a few things so you can take this type of a breakdown or maybe a few you know pairs to where you don't have to tie yourself up but if you want to be able to trade more things at once you have to find a way to make it more effective so for me i can see everything that i just marked out in one view and i can actually take that away well i can leave it there that's fine so i can see everything that i marked out in one view so if i look at where those arrows were i can see that the market is dipped so you see that it's an uptrend you got the green here you got green here you got green there all green so you know it's an uptrend and then you notice where my let me use my vertical line where the premium entries would be would be where there's lower points here so that's how you use indicators you use it to confirm your price action strategy or to make it easier to identify you don't use it as a strategy you use it to confirm what your strategy is in a faster pace so you see how everything lines up you know the market dipped that close to this line here also became low on this on this little indicator set so it shows you're buying the loads well just like i you know mentioned with that diagram up here you're buying the lows by the lows and selling the highs transjuction momentum and the momentum for me is when you know price crosses above the white line so the momentum is confirmed after so it's trend structural minimum so i see trend i look i wait for structure to be created and then i look for momentum it's as simple as that so you got there you see here trend structure momentum keep going you can literally keep doing that over and over again so it makes it easy for you to do your strategy whatever your strategy is you know if you were trading you know harmonics or different things like that you can use indicators to help you confirm what you're looking for but that's that so if i go back to live to live chart move that out of the way go back to live chart i'm just looking for the same thing as i saw on the bigger charts so simply here so see that there is some structure in this area right here so i'm just looking for the market to dip down here and potentially continue its trend or it can break the structure because you never want to try to be like one-sided with the market it can break the structure and confirm something on this side before going down and the market will tell you what it's going to do you know you you see the trend you look at wait for structure to appear and then you're waiting for a minimum and when that momentum happens in alignment with the trend structure you take the trade if the momentum doesn't happen in alignment with the trending structure then you don't trade the trade and you wait for traded structure to be in alignment with momentum if you do that you know trading becomes more simple to you know trading is never easy because the emotional aspect of using your money or the or the risk of losing money but becomes simple and f when you follow the rules so let's look at something different and then you know you see how this is kind of red and green red and green you know so right away i can see it's a sideways market you know i can so if it's a sideways market on this time frame what i can do is go out to a bigger time frame and see that there is more evidence of trend so on the bigger time frame there is this downtrend let's see if it matches up with the smaller time frame so the smaller time frame still sideways so it's a sideways market on a smaller time frame but it's coming from a down market on the bigger time frame so one way you can take a look and do it and look for is you can look for your high points here and this is what i mean by that so right now it's kind of in the mid move right now so if i was to take if i was to take a trade that trade would have been here so that that trade happened and it's in a sideways market so what i'm going to do now is because there's no clean clean entry to be seen from where market is at right now i'm going to look for a scenario where a better entry can be formed so what what i got to do is wait for trend and trend establishes itself when structure is broken and always remember that trend establishes itself when structure is broken let's do this that's a better level so now i got this level here so now because it's in the sideways market no there's ways to trade it but i'm not going to go in and be too complicated with trading sideways markets so the simple way is to wait for trend to confirm itself by breaking structure because everything is in alignment so now all i'm going to do is simply wait this is for eurocad i'm just going to simply wait for the market to show me what it wants to do and then once the market shows me what what it wants to do then i can continue trading my strategy let's pick another one at random let's do gbp jpy already getting paired let's break it up a little bit more gbp usd so gbp usd so mostly an uptrend kind of losing momentum because this is a sideways so it's coming from an uptrend now it's trading sideways so now if you're more advanced you could be looking for a possible reversal by looking at the bigger moves so you see that this point here this point here was a high point if you go back into go back into the smaller time frames you can see that the market and i'm kind of teaching reversals at the same time you can see that the market is making higher high slightly i mean making higher lows but it's not making higher highs so that also tells you that the market is losing momentum it can gain momentum and continue forward but until that happens you can you can go with the notion that the market is losing momentum so now you wait this is right here is a waiting game it's not a clean there's no clean entry at this point at least from the strategy that we're trading you know some people could say well you know all this stuff happened here if the market goes back up here just sell it but you can be okay trade but you don't know for sure because momentum hasn't you got trend up you got structure pointing down but momentum is still up so if you kind of if you like if you're trying to confirm a trade let me kind of visualize it for you like i said every strategy every strategy is a reflection of trend structure momentum so if you were judging a trade and kind of doing a confirmation on the trade you would simply you know grade grade three keys to it so you got trend let me structure train structure and momentum so you could literally just sit back and grade a trade like this if you ever if you're ever trying to debate a trade to do it to kind of take the emotions out of it and be more systematic so what is the trend right now the trend is still up now the structure now the structure is pointing if i can get it now the structure is is kind of insinuating to the downside not quite but it's more so turning to the downside but the momentum is still up so because you have an incongruent analysis you don't take a trade until everything is congruent so how would things become congruent well the structure can be broken and now the str and if the structure is broken the structure is broken then you can turn this you can take your change your evaluation of it and change it to up let's say if the market goes down it starts to break structure you see the momentum changing then you can see that you can give it a different evaluation because you see trend changing and momentum changes so trend changes and momentum changes and structure is still downward then now you have congruency in your analysis and you can make your trade that's how you keep things simple so i hope that you know this this was helpful you know if you definitely want to i guess expound upon this and kind of look at this style of trading a little bit more message me um i have i have it in a couple ways that you can basically get access to it so hopefully this helped out y'all have a great night if you're trading good luck with your trades stay with your strategy and you know don't fall for your emotions y'all have a good one
2021-06-03 18:51
