Sistem Trading Price Action || Price Action Trading System
This is the same. It's more to short-term trading It can be used for mid-term trading too but it's more to... ...short-term trading, the maximum is 2 days Which one suits you? You may try it one by one Next, based on the trading system we discussed one is related to trading style Second, after we know our style, we must understand the technical In technical, we read direction, potential of buy or sell After we know the direction and potential, we learn the key levels Technical is big. We'll discuss candlestick, support and resistance then range, and etc. Those are in technical Now, which one should we learn first? Let's do it step by step What matters is knowing it in details, then keep trying it on and on Second is technical. What are the things in technical? First is trend We can read it by the visual By the visual. If it's going up, surely there's trend like this
Second, we can see it by the candle or market structure Third, we can use trendline Or we can use trend channel Trendline uses 1 line, trend channel uses 2 If we draw lines above and below, it's called trend channel We read the dominating move in trend We can read it by the visual by our own eyes then by market structure, and trendline In trend, there are 2 main ones, up trend, down trend, and sideways Ups and downs like this is called sideways, it's flat Let's try to read the trend. Let's go to the chart We use H1. I'll erase it all first. Press Ctrl + Y to turn on the daily limit How to read the trend? Let's read this day, which is between the dotted lines Let's discuss about this day How to read the trend? Trend doesn't have to be 1 day It could go for days. Let's see this, before this goes up
the trend can be seen by the structure or visual For example, it's still formed like this First, let's see the previous day, we can draw a trendline Trendline, if it's going up, we draw from the bottom This green was dominating. Now, let's see the red Up, then down. Then, it goes up a bit then down again Watch. It goes down again, but it's rejected when it's at this edge At first, the trend goes down, then it goes up. We can see it
By visual, green is getting higher By the visual, the trend is going up So, we focus on buy. If it's a down trend, we focus on sell It's going down until the next limit whether it's support and resistance, retracement or else What matters is we read the trend The main thing in reading trend, adjust it to your trading style If we do short-term trading and use it quickly watch the nearest to the running. The present, for example The trend is going up for now, buyer is dominating Buyer is dominating, but there's a limit above called resistance The trend can be canceled if it faces support and resistance, retracement, and etc. What matters is knowing that the structure is aiming up Which one is more dominant? This green is strong so we focus on buy. Before there's sell opposing we focus on the candle structure that's formed In drawing a trendline, we can draw it at the bottom body Trend channel is like this, top and bottom We draw lines on both sides in trend channel Trendline is one When it goes up, we draw at the bottom. When it goes down, we draw at the top What we draw here is called trend channel The below one is support. The above is resistance
If it breakouts the support there's chance that it'll continue Although the down isn't long, at least it continues It means there's chance to order sell What if the trend is going down? We draw from the top that touches lots of candles many touched body. If we draw a channel, it's like this Trend channel has 2 lines, above and below Red goes down to here, then up again If we draw above, it's like this. Then, it goes down again Then, a breakout occurs Breakout means the candle breaches the trend channel strongly not small buy breaching it strongly After the breakout, there's chance that it'll continue There are other limits called support and resistance Let's go back to the topic. We already discussed trend The main and safe one is following the trend. But, it's not always directly When it goes up, we can't just order buy randomly There's technique to order buy Next, the second technical It's identifying key level First is support and resistance How? Read the market psychology It's when the market is up, it couldn't go higher and rejected by seller When it's down, it's rejected by buyer. It's called psychology area Then, there's retracement area Then, there's reversal area Watch these areas. Let's discuss support and resistance first
Support is always at rejection or angle below The angle above is resistance When it goes up and breakouts, then make another psychology level it becomes a resistance and this is the support, and so on The same if it goes down. This is support. This is resistance It's at a psychology level where it's rejected, stopped, and turned Let's see the example Watch when it goes up. I use this one as example It goes up, then rejection starting Tail above is seller rejection It means it's a psychology level This is the first psychology level. It goes up, can't go higher, and rejected It's closed below. Watch, when it goes up again then it couldn't go higher and the candle is closed below It's trying to go up again, but rejected. So, this is the main psychology level Watch. All of them bounced when they reached this area
The maximum body is there. So, it becomes a resistance Watch. When it breakouts up, there's potential that it'll continue What if it couldn't go higher and went back again? When the market keep touching resistance and went back down surely it's a strong impact and there's chance of reversal or sideways This breaches the resistance. These two didn't breach it This is resistance and those candles are closed below resistance When it breakouts, there's chance that it'll continue to go up So, we can order here We can order buy there, but let it go down as strong as it can After it couldn't go down lower, then a green appears then we order. Or, we can order buy after the candle changes surely we must apply the risk management so we're not nervous and anxious there Even though there's correction, it's fine. It's still in our tolerance limit
The risk limit if in XAU, like what we said yesterday is around 400-500 pips, but not always If we order buy there. Sorry, for EURUSD is around 150-250 It's for EU, EURUSD So, the risk is here, 150. The easy term is the stop loss is here We place the SL at 1.18527 We place the SL here Even there's down correction, it's fine. We already anticipate the risk
When it goes down, the SL isn't touched and go back up and profit For the profit, it depends on you We can take 50-80 It depends on the market condition. This is psychology level If it goes down, we think about the support If the market goes up, don't think about the support, but resistance When the market goes down, we think about the support There's psychology level here We can use the tails that are touched And this is at the exact support If it couldn't breakout the support and the color changes there's chance to continue. Test it. We can use many triggers This is psychology level at support and resistance. Next is retracement Not psychology level, but key level, retracement Where do we place the retracement? Let's go back to XAU There's psychology level above. It's a resistance When it's starting to go down, focus on the psychology level below Find the nearest many rejections I'll mark it. I tend to place it on many rejections at an area
This becomes our test area if it goes down Watch. Many rejections here. So, it's the nearest psychology level or the support. Test it. If it breakouts this area, try to order sell Prove the result, profitable or not For example, we order after the breakout we order sell here Where's the loss limit if I order sell here? Take 400-500. Watch the left and see if there's rejection
Turns out it's near a rejection. We place the SL here 1810.72 If it couldn't breakout and go back up strong, watch the power can it breakout the resistance or not? Let's go to retracement It's temporary. The term is correction Watch the trend generally. This is the yesterday The power is almost the same. It's closed almost the same. Buyer and seller have balanced power This goes down, then buyer pulled it back again Above here, it becomes a strong resistance Where's the correction? Watch the nearest domination to the running It's green. The nearest domination is green
We can draw from the bottom green Then, draw a line in the middle. So, it's a retracement Or we can find the closest first that has rejection There are many rejections here, so we test it here If this got breakout, it'll try to reach the retracement While it's above this, there's potential that it'll go back up This is the simulation. If this goes down and it starts to bounce here it'd be like this, bounce and go back stronger If it bounces, it'd be limited by this area too. Can it breakout?
If it breakouts, it'll continue and will be tested here If it breakouts strongly again there's potential to go up again and try to reach this area This is the trip progress and how to determine the limits First, know the support and resistance, nearest psychology level When it goes up, find the above one and vice versa The retracement is here. Take the middle of the domination Next is reversal area The basic is the same, psychology area or retracement For example, it goes down and starts to bounce at the retracement Bounce means green is starting to appear then green appears again which is the confirmation, so it's the reversal area to order Let's find an easy example This, for example. Watch when it goes up Then, when it's at this edge, it stopped There's rejection, starting to be rejected This is a psychology level above or resistance When it's starting to be rejected at this area If we see the left, let's zoom in and out Turns out there's a rejection There's rejection here. The nearest one is here
It's breakout so it continues to go up It's rejected when it's above. So the nearest one now the present psychology level is the nearest here This one has a long rejection We use this long one for our reference When it's starting to be rejected and the candle changes there's confirmation The confirmation appears and the market starts to turn This is the location where the market bounces There's another psychology level below here We can see it from this and this When it bounces after it reaches the psychology level below the color starts to change, then it's the reversal area We can order after there's a clue to go up or at least after there's green confirmation. We order buy here The target is our plan Each person has different plan, depend on how they apply it Then how to practice it, how much do we usually take when we exit Practice it repeatedly If it suits you, use it There's another psychology level above. When it couldn't go up it stopped there and red is starting to appear which means buyer power is starting to be weak When there's in line reds, we can order sell We can order sell in this candle We must pay attention to the risk too Risk must be limited. Where's the area?
In gold, take 400-500. In EU, take 150-250 If our stop loss is touched, at least we already prepared the risk There are times we're wrong. We order sell, it could go up There are times we suffer loss too. In business, loss is normal The point is how to manage the loss as small as possible so we can get more maximally When it goes down, the psychology level is here When it couldn't breakout psychology level and power gets smaller The seller is getting weaker. There are many rejections below Even though the rejections aren't that long, but there are many rejections The last power of seller is below here We order buy after the first 5 minutes. It didn't go down at all When there's correction in the running It goes up, then if we order buy try to wait for a down correction and there's tail above then we order buy when there's correction Do that to get cheaper price And there's potential for it go back to the tail above Practice it a lot. We'll prove it together later
I think that's enough for now. We'll continue next time Before we go to the next topic, is there any question or difficulties? To be continued....