PROOF Price Action Trading Still Rules!

Are we making trading more difficult than it actually needs to be in this video that’s what I want to talk about what I want to try and clear up you see I get lots of emails from traders every single day I’m asking after myself from my brother to help them become profitable in their trading one of the things that we do ask a lot of trade is that we don’t know, so, if they’re not already from the arc of our communities we ask them to send us across rooms and charts just to give us an indication of the of the way that they’re trading and what comes across in a good number of them not all of them to be fair, but a good number of these people that are emailing us is the fact that they’re really overusing indicators and as a result of that in the past couple of weeks what I’ve been doing with our day trading community and I’m not sure, if they’ve noticed it they probably have noticed it is I’ve started to post a lot more charts of just plain price action, because what I’m trying to get across to them and what I want to get across to you in this video right here is that often you know less is more, so as traders and as human beings in fact it’s quite normal to want reassurance about things, so, if you’re looking at chart you want something to confirm what you’re looking at and that’s where you start introducing indicators and to be fair there’s nothing wrong with that as long as you use it in the right context, if you look as long as you use it to confirm what it is that you already know that you’re already seeing where it becomes a problem is when you start to build entire systems around it, so you start to throw five six seven eight indicators on a chart and, then you start to make your trading decisions based off of what those indicators are saying which ultimately they’re basically they’re lagging behind the price anyway and you’re making your decisions based on that rather than using that some sort of a confirmation for you getting into the trade and what that’s where the problem is, so what, I’m going to do in this video right here is, I’m going to jump over to the charts and, I’m going to show you some price action sets up it took place literally just this week to really prove to you that less sometimes can mean more as long as you kind of you take the overall chart into account you look at the context of the markets you really take in all of the information can and you build your trading decision based on that, then you’re going to be a profitable trader okay and I’m also going to show you that there’s no there’s no right way to treat, so you know the people that say oh I’m only a breakout trader or I’m only a range trader or you know I’m only this or that I really think that those people are limiting themselves, because what they’re doing is that they they’re probably seeing this sets up the other set up, so let’s say for example they trade breakouts, but they can probably see the range trades they’re just not taking them, because they pitch and hold themselves into this thing calling themselves a breakout trader when that they don’t have to be that that could be one of the traits of their stronger abut, if they’re able to trade and make money from other setups than why not you know, because at the end of the day one of the one of the big problems that a lot of retail trade Watty any trader faces is the fact that they can’t really suck sometimes or somehow feel that they always need to be in the market, if they’re not in a trade and no inventory that doesn’t exist you know they’ll start picking up their monitors and putting their monitors on its side and looking for things that really don’t exist now, if you didn’t pigeonhole yourself and say I’m only one sort of trader and instead says that I’m just a trader and, I’m going to trade whatever it is and the market presents for me, then you’re giving yourselves a lot more opportunity to be to be able to take advantage of okay, so let’s go over to the charts now and let’s talk about some of these setups and let me show you a copy we’ve set up this week just to really sort of drill home the point, then left sometimes is is more okay, so let’s start off by taking a look at a trade that I posted in the Facebook group earlier on this weekend well my facebook page and in the group and that’s this one on the Aussie cabin I want to start off by taking a look at the hourly chart just, so you can see the setup that we’re taking now what we had identified is the fact that the price had been in an upward trend we’ve got this resistance level in here which is a long-term resistance level and it’s clearly something that we don’t want to trade it into and, if the mock price actually gets there, then in fact we might decide to trade against it in the opposite direction when it bounces from this level, so we’ve got that in our sight, so that’s us taking me sort of like the whole market into account and looking at everything that the market is showing us, then we identify that we’ve got this upward sloping trendline now at the time this price section here this had not occurred, but just seeing that this had come down the market bounced up again and, then it was coming back towards our in line I don’t know, if you’ve seen my video but, if you haven’t go back and look over some of the YouTube videos where I talk about trading trend lines and things like that and ultimately what I say is that you know you only need two touch points to be able to identify something and, then you look at price action when it when it approaches for the third such point there’s a lot of people out there that say all no needs three or four or five touches in order for it to be a valid trendline, but the the problem is is that you’re just kind of falling into that trap where you’re looking for all of that additional confirmation again and by the time you wait for that confirmation you end up being the person that’s getting into the market way way too late and all of the professionals have already made their money, so this point here would you’re a mister online and we thought you know what, if the market comes back to this level we’re going to take the trade from that level then, if we zoom into the 15-minute chart we can see exactly where the market came back to that level, so over here this is a trendline this is going to be the third touch point you can see that the market is breaking down towards this level here where it comes down to this area which is mature and, then we’ve also got another support level just beneath it all right, so we were expecting a bounce around here or around this level anyway now what happens we get the price action at this level, so you can see that we’ve got some relatively big-bodied rectangles coming down through the level, then it gets smaller and smaller and smaller and, then eventually we get a very very nice positive bullish engulfing candle over here this candle obviously is a very very bullish candle, because at one point in time it was all the way down here it was very negative and the buyers came into the markets and pushed it all the way up to the top here okay and when they pushed it up to the top once that kind of closed that that’s your your signal to gets into the ultimately you place your stop beneath below there and, then you’re targeting sort of these highs here for where you want to take profits, so it’s not like you’re expecting the market to break out, so when your new house will do anything spectacular you can actually make a sort of like nearly 3/4 times return on your money just from taking trades based on price action okay, so that was me one in the Aussie CAD I played a game with our group this morning and I said show me the setups that occurred yesterday okay, so in the Aussie yen in the euro Ozzy show me those trades and show me where you would have taken it, so at the moment I’m waiting for everybody to post back their charts in the group and we’ll see, if they managed to get this and we’ll send this video out later, so that they don’t get a hint anyway okay, so anyway the euro the Aussie yen, so the other yen what the first thing that I want you to take a look at before we look at the price section is always forget an idea as to what the chart is doing what’s the context of the chart okay and as we can see here from the daily the market is definitely very bullish it’s kind of stopped at this level this resistance level over here or zoom in here and it pulls back from this resistance level here, but we are very bullish on this term we expect it to go way up, so with that in mind we, then jumps across to the 15-minute chart and what we noticed was you have this sort of a consolidation zone here, so the market came down and made it low and, then came up and made a high, then it started to move sideways now there’s a number of ways that you could have traded this and I’ve already seen a few posts within the group one of them was suggesting that you could have taken a trade there was a trend line in here they kind of cut for a few candles and put a technical trade now which is possible I personally, if I was going to be more aggressive probably would have taken it on a break of this high here you know we always like to let’s get that in there this high here whoa why is it not working this try again third attempt there we go this high over here, because I always like to see that a high is broken before I get into the market I wouldn’t have taken it from this love, because the miss high is just way too close and you magical wait for that bridge bare, so you could have taken an entry from this area here around 85 65, but the one that’s we opted for let’s get rid of that resistance line there the one that we opted for is this one over here, so the market broke out above this level here closed above, then went sideways let me zoom into this view you can see, so there are two ways that you can play break right you can either take the initial break right here alright it’s a little bit more aggressive and you could be stopped out or you could wait for the markets kind of prove to you that it wants to go in that in that direction and wait for a little consolidation phase or a pull back after the break which is what we prefer to do most of the time and basically wait for this consolidation yes you’re getting in a little bit little bit later, but you’re getting a little bit of extra confirmation there as well getting on the break there you’re stopping though beneath the lows like that, so you can have a closer stop and as you can see the market has literally keeps giving why does this hold on one second let’s just get rid of that line there the market has broken out from that level and kind of not looks back at all well now it’s looking back and, then finally the final price action and setup that I want to show you is this one here in the euro in the Euro Z, so the Euro of the broke through issue I printed a structure level you can see it best here on the for our chance it printed a structure level back here in January and the reason that we call this a structure level and what we’re looking for is we’re looking for a reaction to a level, so we wouldn’t consider this necessarily a level of supports around here we want the markets come down and, then react to a level move away from a level which is what happens, if the market comes down to this level other moves away from it and, then it comes down to it played with it and eventually breaks it’s on about the the 7th 6th or 7th of February there ok, so the setup that we took was again let’s go up to the 15-minute chart basically well there are two that you could have taken the one that we took all right as once the the market we’ve kind of like one two three reversals we got them a little bit later on this one, but the one that we took is this one two three reversals from the market came up to this level here came down it reacted to the level, so it showed us that it sees the level there it didn’t, if it wants it to break above that would have been the perfect moment to do that right, if you think about the way that the markets worked, if it’s going to break to the upside we should see a lot of momentum through through this resistance level here we didn’t get that, so, then we thought okay, so that previous support level was now acting as resistance the market pulls back, then attempts to break through there again, so, but it doesn’t print a high that’s higher than its previous high and, then eventually it breaks beneath this level here that’s the signal turn see have you stopped above the highs and you trade it down towards the low of the range, if you were awake or you live in Australia around 3:30 in the morning GMT, then the other option that you could have taken would have been to take a trade when it broke back beneath this level here, so the market breaks up above it proves that it can’t hold above it, then breaks below and, then you could have taken yourself from that area there stopped above the highs and again you could have held it to the bottom of the range in which case you have got a ridiculous risk Awards raid or you could have traded it down to the 100 moving average or something like that okay, so that wraps it up for for this video I hope you enjoyed it and I hope it kind of really proves a couple of points there for you I’m not expecting you to go away and completely change your trading philosophy at all I think I’m just kind of trying to prove a point to all of you traders out there that are looking for that that Holy Grail or that magical system and I just want to show you that really there is no magical system there’s a number of ways that you can get into or out of the market and as I said before sometimes less truly is more you know, if you try to throw more indicators on to your charts and things like that you’re going to find that you come unstuck, because you learn to not you’re kind of you’ll be removing the responsibility from yourself right, so you won’t be looking at yourself and saying you know I need to read the market you’ll be putting it all on a bunch of indicators and, then wondering why it doesn’t work out okay, so I hope you enjoyed that as I said I hope that gives you some food for thoughts a very very quick message to those of you that are watching as this video is posted, if you’re watching later, so basically after the 14th of February 2017 this message has nothing to do with you, so you can rubbish which off now but, if you are watching this week please remember that we’ve got a 25 cent discount on our money file which is the service where my brother and I basically we write up all of the trades that we’re looking at the longer centuries they were looking at for the week ahead and we send it out in a report on a Sunday and typically this is going to be good for those of you that you kind of you work full time, so you don’t have enough time to analyze from the market or maybe you’re new to and you just kind of want to look over someone’s shoulder and make sure that you’re making the right sorts of decisions, so as I said what our Altima is is it’s a report that we send out each and every Sunday we detail every single one of the trades that we’re looking to take, so we say you know the levels that we’re looking to take them from the entries where applicable, so sometimes, but the the opportunity will be setting up as we’re writing and we can say, so this this level that we’re looking to get in at other times the price won’t be there yet, so we’ll say we will get in, if the price were to give us a one-two-three reversal, if it was close outside of this area here we will, then get them to the trade things like that, but ultimately it’s my brother and I think it’s all it’s a fantastic service for all traders out there you know even, if you don’t necessarily use all of the ideas that we give you and you just use it to give you a heads up from what the Mart is doing, then it’s still a fantastic service ok, so, if you’re interested in that, I’m going to post a video beneath the video here a video, I’m going to post a link beneath the video here, so please keep click on that link take a look for more information about and, if you’ve got any questions please feel free either posted beneath the video or drop us an email email either all will be happy to answer it thank you very much for watching I hope you got loads of value up this video I hope you got across where it is I was really trying to feel to put I just um, so thank you very much for watching.

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