Dasar Strategi Trading Price Action || Basic Trading Strategy of Price Action
1-2 hours is more than enough Next, I'll discuss about price action Price action is the price movement itself We watch the price itself Price action doesn't mean candle pattern Price action is not candle pattern But, candle pattern is a part of price action Price action is about the running price and also the history price It's called price action Price action doesn't rely much on news because the price always follow when there's big news If dollar gets weaker, it goes up and vice versa So, we only watch the price movement So, we must understand the candlestick character We can't use it as main reference, but it helps us in taking decision Character means the character of each candle movement There are 4 characters that we can read from the candlestick First character is by the body or the volume. Second character is by the axis Third character is by the position Fourth is by the comparison comparison between the body and axis/tail Read the character by the body, axis position, above or below, at a support or resistance then the comparison between the body and axis So, if the body is long Watch the body, it's long For example, the candle is red By candle character, this indicates that seller has strong momentum Strong seller, it's if we see by the candle character But, in ordering, we must wait. There's a thing called trend there's support if it goes down if up, then it's a resistance then correction/retrace area We must watch all of these if we want to order So, even when the candle is long like this without any rejection above or below, this doesn't mean that it'll continue to go down it could turn back up too when there are impacts below it Next pattern Let's draw a candle with an axis Like this, for example A candle with axis surely is different than a full candle If we see by the process it went up first This is high, the highest price Remember, we must know that buyer had power to go up to here Buyer had the power to go up to here Then, rejected by seller. Tail above the body is the seller rejection It means seller pushed strongly It was green, then rejected by seller then it went past the open so it changed to red then closed red as dominating seller If we read the character, buyer had power to go up Be careful because it has chance to go up again Then, seller is dominating there The main power is still seller, although we must watch the buyer too It's closed as red. It means this is the dominating volume Before the volume is red, there was a power to go up first If we combine it, seller power is twice the buyer However, we must watch the buyer power For the order spot if it's like this we focus on sell, but we must wait for it to go up first Wait for it to go up and then back to red again What if it keeps going up with no down at all? Wait for it to be formed first since there's buyer power For example, it goes up then in the first 5 to 20 minutes, it doesn't go down And if it's still thick when the time is approaching the candle change Watch out when the candle is closed above this edge above If it's like that, change our focus to buy But, when it goes up and the height is the same, wait for the next one If it's at a key level, like this there's chance for it to bounce down So, we must wait when the condition is like this We order buy when the time is above 40 minutes and still high we can use small correction Measure the correction distance to know if it's enough to take profit We can order here. This is how to understand candle character Watch the position too. Is it at the top or bottom?
Is there any support or resistance? Position also determines it Last is compare the body with the tail Let's see. There's body and tail If the tail length is the same as the body then both powers have chance, up and down. So, be careful The tail shows the opposition This is how to read a candle's character We can combine it with the other structures other candles. I'll show you the example When the candles are in line, they make a structure For example, this goes up to here and formed buyer structure Be careful when it's above. If there's rejection, be careful Then, watch the volume above and below It goes up, then getting thinner Still, we must watch the character of the volume If like this, we focus on buy, but we must wait for the first minutes to get past For example, when the candle changes, it doesn't go up on the first minutes If it's going up, wait for it to go down first, we order buy when it forms a thick green body But, it goes down and it keeps going down until the candle changes If like this, will it go down? Let's see the left side And see the effect of the formed candle What's the last one effect with the previous one? Turns out the effect is pretty big compared to the nearest candle The 3 previous candles are eaten by the red It means there's strong sell power We must watch it and the key levels, for sure There's key level there. And there's rejection here We can use these 2 for the test area For example, it's strong here. It indicates that seller has big momentum
Can we order sell? Logically, yes But, when it's still above the retrace we can wait for 1 more candle Actually, we can order after this big one It's big and don't have any rejection, so we can order sell We must watch the condition Long red doesn't mean sell, or when there's bearish engulfing don't just order sell. We must watch the structure and effect This goes up strong, then rejected by seller without any fight suddenly So, we can order sell when the position is like this If you're not so sure, you can wait for 1 more red candle The red must be pretty thick, not thin like this If you want to order, it's better to order on the engulfing What matters is the effect We must know the effect of the last formed candle "Can you move the sell, I think there's rejection" "If the position is like this, we'd be in doubt" Yes, especially the red is small If we're in doubt, we can wait for 1 more. This is at a psychology level So, we must wait If we want to order, we can see M15 too find a clue But, take smaller profit target After this red, we can take position again here It's just a bit. At least we can get small profit if we order here If the target isn't fulfilled yet and dragged, it's fine What matters is there's a limit for our loss Measure around 400-500 or use the resistance The resistance is 450. We can place it here. It's around 400-500 Let's measure it, it's around 500 If it's too much, we can lower it to the tail below What matters is don't use too small or below 300 If we use below 300, it'd always be touched we won't be able to use the chance, but it'd be touched and touched This is our SL area SL doesn't mean we must wait for it to be touched, we can recover Let's measure from our order spot We can wait for it to go down first, or order directly since it's a breakout If we order, then it's around 359 or 360 369. Still make sense If we apply risk and reward ratio 1:2, it'd take too long If you do short-term trading, use 1:1 risk and reward ratio If the stop loss distance is here, use the same distance for the take profit It's here if we use risk and reward ratio. But I recommend you to close if the profit reaches 100 or 150 pips
No need to wait until it's too much Maybe we can wait if the market is strong but don't do it repeatedly, we'd stay too long in the market We'd be baited Take around here, it's enough. If we don't take it, we'd stay in a floating again Sometimes, we'd be in doubt because of floating If we order sell when it's green, we'd be nervous We'd keep thinking, like, "will it go down?" While actually a long red appears with rejection I get that question almost everyday When we order buy, the market goes down, we'd be confused They're asking how and how. Just leave it and it'll go down Needs 2 hours to go down, same as yesterday When we order sell, turns out the market goes up. It's fine if it's still on the normal limit Then, in a short time, it goes down long We're used to those kinds of models If we're not used to it, we'd be in doubt and afraid This green is pretty long "Yes, it's close. If I see it"
"it's past the half of the red" "It's going up and will go to the open" "It's near" That's why we need long experience so we can know each candle character Surely we must order often If we do a few orders and not proving, we'd be chased by a shadow If we're sure we must be sure to the trigger and remember that Then, it breakouts the psychology level, so I'm sure to order sell What matters is preparing the risk Just run the system whilst we strengthen our psychology "This one, there are 2 psychology levels, those 2 yellow lines" "The first one is breached, then the other one is too near" "Before I order in this position" "It keeps bouncing up" "Normally, it'd be breached later, right?" In order to make sure, we must wait until it's done "Sometimes we find that and we're impatient" -Yes "I'm in doubt with the many psychology levels" If we're not used in opposing, we'd drop because we don't know the limits While it's still in normal limit, we can leave it, like this When it goes up and rejected down, it means seller gets stronger "Let's see this red, sir" "Below there, there's a psychology level, many rejections at the left" 'Red only can reach here, can't breach it" "Turns out it breaches after the open" "It goes down at first, right?" -Which one? "This green" This one? -"Yes, the above one" It breaches, but the candle isn't formed yet, still running. So, we can't use it as benchmark Wait until it's done so we can take decision "For example, I ordered in this green" "Then, it goes down" "it breaches a bit and it's a profit" "Turns out, the profit is small and not fulfilling the target" "Then, it breakouts" "We'd be afraid, right?" -Yes, it's much, around 230 It's a normal distance to take another position If we have sell here. For example, we don't take it since it's not 100 Then, the market goes up. What do we do?
Learn to cover it and play with the running Don't read until it's done yet. If we do that and it explodes, we'd lose our chance to recover When it's big, it's hard to recover Even we use twice bigger lot, it's still hard to solve it So, when it goes down at first, then it goes up remember to watch the time. First 5 or even 20 minutes and it's still going up If it's still going up, we can use it here We can use the running when it's here When it's at the edge, we can order sell Surely we must pay attention to the risk management Or, when there's down correction, we can order buy with bigger lot Bigger lot could be 1.5x bigger or 2x bigger It depends on how we play the lots. And, it must be trained
When we order here and it moves up, at least we reduce our loss At least we can save the below one So, when it's closed, we're done too even though not all Say, it's thick like this and the time is more than 20 minutes. There's correction here At this line, we can order buy with 2x bigger lot It's okay to buy when there's correction or sell when it's at the edge All need training, lot management, and risk management That's where we fight on the running See which one that wins "I'm often stuck in things like this" "When it goes up, I'm confused and surprised" "But, I still don't have the reflex to change position" "To be honest, I don't know what to do when it's there" "When it's up there, it stopped" "Meanwhile, if we order again here" "our SL is touched." -Which one? "The red beside it" "Our SL is at 1809" That's why don't just wait for the SL to be touched If our SL is touched, it's like losing before a fight But, when we monitor the running, learn to hone our skills and instinct We must try to exit from the red zone with various ways. Then, use what suits you Get used to do it Get used to use some lots, and it'd be in our conscience with times It's if we're trained So, don't wait the SL to be touched, it'd be long It means we lose the moment to solve it For example, this goes up strong We can see that it couldn't go down further Then, green is starting and in the 50th minute, the green is thick After it eats the previous red To be continued....
2021-07-23 20:05
