Trading the spot market using price & time analysis.

[TheMoneyMachine]

Hello Everybody,

Great forum, well done Trade2Win.

Does anybody trade the spot market using price & time analysis only?

There seems to be reams of discussion on the analysis & application of technical indicators in the spot market but very little on raw price action and the benefits one can accomplish from learning to use it.

I have flicked through some of the previous threads regarding price analysis but most seem to refer to the equity markets and also discuss volume which unfortunately is not available to us in the spot market.

I apologise in advance if i am covering old ground but it is going to take me some time to cover the discussion boards content.

Look forward to a response.

Regards

TMM

 

[ChowClown]

Hi TMM,

I for one would be keen to see a thread on this subject develop. I've been battling with price/time in general and not just on spot FX, for a while now. Do you use Gann?

 

[jezza888]

Welcome TMM,

I must admit I'm guilty as charged when it comes to using indicators with forex although learning how to use price and time would be a very intriguing and hopefully informative thread. I get by OK with the indications I use but would certainly like to learn more without them.

As you say, alot of raw analysis on these boards revolves more around stocks and indices and the use of volume, which, is no use in forex.

Look forward to a hoefully good thread.

What pairs do you trade?

J

 

[TheMoneyMachine]

Hello ChowClown & jezza888,

Earlier in my trading career i explored Gann along with every other conventional indicator/forecasting tool available until i slowly became to see the wood through the trees and began exploring price per se.

I predominantly trade the major/commonwealth currency pairs, how about you?

Regards

TMM

 

[JonnyT]

I'm trading currencies predominantly GBP/USD using 15 minute charts only.

No indicators.

Its early days yet but today was very kind to my analysis.

JonnyT

 

[jezza888]

Mainly GBP/USD and occasionally EUR/USD.

I'm using the stochastic Oscilator at the moment but losing faith!

 

[TheMoneyMachine]

Hello Jonny T,

Glad to hear you have had a successful day.

Initially the transition from using technical indicators to raw price action can be extremely difficult. When you have come accustomed to looking at charts with myriads of additional data attached it feels almost ridiculous looking at a plain price chart.

What made you attempt the switch Jonny?

TMM

 

[TheMoneyMachine]

jezza888,

Its ok to lose faith in the indicators your currently using but never lose faith in yourself!

I asked myself what can the stochastic indicator (and all the rest) tell me that the price alone can not.

TMM

 

[jezza888]

All well and good if you are good at reading price alone. Something I know I have alot to learn in.

I have tried numerous indicators as I'm sure many have, and do try to analyze trends, channels, patterns et al at the same time yet I'd probably say both have had equal success. Or not as the case may be!

What time frames do you usually use?

 

[JonnyT]

Hello Jonny T,

Glad to hear you have had a successful day.

Initially the transition from using technical indicators to raw price action can be extremely difficult. When you have come accustomed to looking at charts with myriads of additional data attached it feels almost ridiculous looking at a plain price chart.

What made you attempt the switch Jonny?

TMM

I've been anti indicators for ages now.

Price action has to be the way to trade.

JonnyT

 

[TheMoneyMachine]

jezza888,

I use tick data, 15 minute, 60 minute & daily time frames. With the nature of the spot market it is vitally important to be aware of the underlying trend so different tactics can be implied depending on the direction your positioned.

TMM

 

[wuli dancer]

Hi,
I'm new to this forum and new to trading in general. I've been fx trading with a mini real account and demos for about a year. Still struggling to turn the corner on consistent profitability. Your thread topic is of interest to as I have yet to settle on a particular indicator or combination there of to provide winning trading signals. I have a couple of quick questions to ask just to get into the flow of this conversation if I may.

1. When you say that you look at price action alone, do you use any type of trend lines, S/R lines, fibo retr. levels at all along with the price chart?

2. Are you looking at bar, line or candle type charts with this technique?

3. What is used to provide a trade signal in either long or short direction?

Thanks in advance for your input.

Looking forward to participating and learning along with this group.

WD

 

[JonnyT]

I look purely at 15 minute candles and decide from the candles whether I should be long, short or not in a trade.

JonnyT

 

[jezza888]

you make it sound so easy Jonny!

 

[fxmarkets]

I asked myself what can the stochastic indicator (and all the rest) tell me that the price alone can not.

TMM

the rolling value of the chosen indicator value. do those indicator values have or indicate future price movement or do they serve use as a tool. yeah i'd say so.

can they distract you from pure price action, acceptance, rejection, for some possibly.

 

[JonnyT]

you make it sound so easy Jonny!

Give me a break!

Its early days yet.

Ask the same question after Xmas.

JonnyT

 

[jezza888]

Give me a break!

Its early days yet.

Ask the same question after Xmas.

JonnyT

If I haven't blown my account by then!?

How do you go about trading intraday with price alone? I can see patterns, trends, channels and the rest on anything over a 4 hour chart with (normally) quite good success, but when it comes to intraday I'm lost.

 

[JonnyT]

Look at each 15 minute candle in conjunction with the ones around it.

Has price stopped going up?
Has price stopped going down?
Does it look toppy?
Could this be a reversal?
etc.

Given opportunity I might display some of todays trades.

JonnyT

 

[jezza888]

It would be appreciated if you can.

 

[TheMoneyMachine]

Hi,
I'm new to this forum and new to trading in general. I've been fx trading with a mini real account and demos for about a year. Still struggling to turn the corner on consistent profitability. Your thread topic is of interest to as I have yet to settle on a particular indicator or combination there of to provide winning trading signals. I have a couple of quick questions to ask just to get into the flow of this conversation if I may.

1. When you say that you look at price action alone, do you use any type of trend lines, S/R lines, fibo retr. levels at all along with the price chart?

2. Are you looking at bar, line or candle type charts with this technique?

3. What is used to provide a trade signal in either long or short direction?

Thanks in advance for your input.

Looking forward to participating and learning along with this group.

WD

Hello WD,

1. If price is moving up or down then it is trending, i do not use a line to confirm this. If price reacts at some point i do not use a support or resistance line to confirm this. I do not use Fibonacci retracement levels.

2. I display price data using Japanese candlesticks.

3. I use several entry techniques based on breakouts & continuations.

TMM