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                                                                                            Pice action element – “Mother candle”                       Hello. Today I want to review one of technical analyses method from price action. Price action do not uses indicators. It is using candles and levels. It is important to learn price action, because you are analyzing price, which is the most important thing in trading. Trading without indicators are simple when you know how to do it .  The major benefits of price action analysis are:                       1.    It is not lagging as indicators do;                      2.    You can adapt to changed market conditions very fast;                      3.    You can trade at any time.                      For trading you will need four things:                        1.    Candlestick patterns;                        2.    Price action;                        3.    Support and resistance lines;                        4.    EUR/USD H4 timeframe                                                           What is a “Mother candle”?                       A mother candle forms when a large candle makes a recent highs and lows that engulfs the foll…
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OneGoodTrade avatar

Interesting topic. I never could read about this anywhere else.

adask avatar
adask 30 Jul

Like it! Real good approach! Maybe adding some levels and bad trades filter would improve it. Could be good at GBPCHF too I think.

projectx44 avatar

the complicated topic was made into simpler form.Forex community thinks it's a great article.....http://www.fxcommunity.com

JackP avatar
JackP 10 Ago

nice article

nadeemraza143 avatar

I like it and I am using it already.

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16/43
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                                                                                                                                                         Strategy:
1. Use 1h, 4h  or higher any currency pair timeframe.2. Do orders in the tops or in the bottoms, not in the middle of the price!3. Look for available profit - is it worth for doing trade?4. Think about stoploss - is it not too big.5. Be higher timeframe trend follower - chance to win are bigger ant tp - much bigger!6. If you are not shure, never do trade! Forex is  waiting, not doing a lot of orders. Here is not a   place for your emotions. My account started to grow  when I started to wait for only the best patterns.7. Allow market to show, when you must trade!                                                                              Indicators1. MACD with fast EMA12, slow EMA26 and signal EMA 92. Stochastic ossciliator  with settings: %K period 5, %D period - 3, slowing - 53. Candles                                                                             The entry.1. Identify divergence.2. For entry  use a drawn trendline (when the candle closes lower or higher trendline), nice candle (pinbar, evening…
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belman avatar
belman 20 Jul

Good article, very refreshing +1

tntalwar avatar
tntalwar 23 Jul

Nice.

OneGoodTrade avatar

A very mathematical aproach. Well done.

adask avatar
adask 30 Jul

All these oscillators are too lagging. So it will work only on certain market conditions. There will be large strikes of losers.

projectx44 avatar

Forex community thinks that the graph made it easier to understand.....http://www.fxcommunity.com

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