price action

This is a discussion on price action within the First Steps forums, part of the Reception category; I keep reading posts of people saying 'forget the indicators all you need is price action' what does this actually ...

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Old Nov 5, 2008, 10:02pm   #1
 
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price action

I keep reading posts of people saying 'forget the indicators all you need is price action'

what does this actually mean

could anyone post an example of a trade using just price action
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Old Nov 5, 2008, 10:15pm   #2
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When a price rejects a level in a way the momentum keeps it moving in the opposite direction;
or when a price continually retests a level till it breaks.

Thoughts?

(A pin bar could be an example of a rejection).

Edit: I hate your avatar, it creeps me out.
Edit2: Watch tick charts

Last edited by KillPhil08; Nov 5, 2008 at 10:28pm.
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Old Nov 5, 2008, 11:14pm   #3
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Originally Posted by price777999 View Post
I keep reading posts of people saying 'forget the indicators all you need is price action'

what does this actually mean

could anyone post an example of a trade using just price action

Get a thread going, or a private forum. You can call it, "No price, no chat, just indicators".
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Old Nov 5, 2008, 11:36pm   #4
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The thing is, indicator freaks 'need' price to prove them right, which is a bit contradictory to say the least.

Indicator users don't know what side thier bread is buttered on, t*ssers.

Don't bother starting a thread, it'll all be tweaked up anyway.

What's the old saying? If you can't make price work, tweak the indicator, if that don't work, take up religion. Blind faith can be moulded to suit the individual, as long as it's faith and blind.
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Old Nov 6, 2008, 12:18am   #5
 
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Quote:
Originally Posted by KillPhil08 View Post
When a price rejects a level in a way the momentum keeps it moving in the opposite direction;
or when a price continually retests a level till it breaks.

Thoughts?

(A pin bar could be an example of a rejection).

Edit: I hate your avatar, it creeps me out.
Edit2: Watch tick charts
Fractal Price Action Example :: Move the Markets :: Entries ::

is this it ?

thats a real grey by the way
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Old Nov 6, 2008, 12:41am   #6
 
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price777999 started this thread Click the image to open in full size.

so these would be price action trades ?
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Old Nov 6, 2008, 2:40am   #7
 
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Originally Posted by price777999 View Post
I keep reading posts of people saying 'forget the indicators all you need is price action'

what does this actually mean

could anyone post an example of a trade using just price action
price777999,
I stole the chart I attached from the "just charts..." group.
I outlined some things on that chart to give an idea of trading with just price.
I personally like to trade with price and time but as you asked for a "price" example that's whats on the chart.
I hope it helps
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Old Nov 6, 2008, 7:30am   #8
 
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I'm trying to write a blog on one simple form of price action, might help, might not.....

http://www.trade2win.com/boards/trad...tml#post557828
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Old Nov 6, 2008, 3:46pm   #9
 
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price777999 started this thread brilliant cheers Hwsteele & Foredog.........more examples of price action still welcome .

is my example correct ?
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Old Nov 6, 2008, 8:21pm   #10
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Originally Posted by price777999 View Post
brilliant cheers Hwsteele & Foredog.........more examples of price action still welcome .

is my example correct ?
I'm no expert but i believe it is.

Shane
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Old Nov 6, 2008, 9:46pm   #11
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Originally Posted by price777999 View Post
Click the image to open in full size.

so these would be price action trades ?
In that first chart when price quickly briefly that upper resistence level and then was instantly sucked back down into that trading range to me is a sign of weakness. With that in mind i may have entered on the break of that first support but mostly likley on a retractment. all in hindsight ofcourse which is always helpful.
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Old Nov 7, 2008, 3:00pm   #12
 
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price777999 started this thread well this price action thing isn't working for me today .


Click the image to open in full size.

Last edited by price777999; Nov 7, 2008 at 3:37pm.
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Old Nov 7, 2008, 5:05pm   #13
 
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well this price action thing isn't working for me today .


Click the image to open in full size.
You just need a little practice that's all.
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Old Nov 7, 2008, 5:51pm   #14
 
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price777999 started this thread top bannana Hwsteele thanks !
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Old Nov 7, 2008, 10:42pm   #15
 
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You are more than welcome. It just takes some practice that's all. You will never be perfect at it as there is always something you will notice after the fact, but the more you do it the easier it gets.
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