USDCHF | Live Price Action Lesson
In this lesson we have the major pivots in price action directed with the blue path so that we can easily find the trend and to also figure out how to take action on finding out if this pair is Bullish or Bearish
In this case we see that price is at the same high in the past with tight swings creating a range or also called the distribution phase in the 4 market cycles and these two sings alone are telling us that price is looking bearish for the long term
After knowing what the overall goal is for price action 🐻 we can create a strategy for short positions only and look for entries at high points within the entire range to swing this market
(the pivots are our zones of entry either up/down)
I've also drawn an impulse wave to add more confluence to the according swings Up and Down as both directions have the same pattern
Note: Usually the 1st wave is typically way smaller with the 3rd wave⚡ being the largest and quickest.
Using the 150-day MA can now help you manage the trade in either direction like show on chart
we can see that almost every pivot bounced somewhat around the average line for optimal entry points
At the top like the last setup price action broke below and then retraced back to the MA to confirm if the selloff is true after being rejected.
🎯
The goal for this setup is to capture the entire swing and to scale the position as price falls further with more confirmation along the way
Typical forex traders dont teach this type of method as its harder to manage and unrealistic based on how long its takes (70 days+ give or take)
This is a different approach and would be similar to mid - long term swing trading stocks or crypto but it very possible for forex as well based on your strategy and style
By finding the true pivot points in price action you can easily break the trade down to capture 100 - 200 pips or less but will require you to look at the charts in one way only and not both ☯
as it can be confusing.
If you enjoyed reading this and learned something new to help advance your trading journey please boost this post, share it, and comment your thoughts on this universal strategy so that I can continue to make more, Thanks!🙂
In this case we see that price is at the same high in the past with tight swings creating a range or also called the distribution phase in the 4 market cycles and these two sings alone are telling us that price is looking bearish for the long term
After knowing what the overall goal is for price action 🐻 we can create a strategy for short positions only and look for entries at high points within the entire range to swing this market
(the pivots are our zones of entry either up/down)
I've also drawn an impulse wave to add more confluence to the according swings Up and Down as both directions have the same pattern
Note: Usually the 1st wave is typically way smaller with the 3rd wave⚡ being the largest and quickest.
Using the 150-day MA can now help you manage the trade in either direction like show on chart
we can see that almost every pivot bounced somewhat around the average line for optimal entry points
At the top like the last setup price action broke below and then retraced back to the MA to confirm if the selloff is true after being rejected.
🎯
The goal for this setup is to capture the entire swing and to scale the position as price falls further with more confirmation along the way
Typical forex traders dont teach this type of method as its harder to manage and unrealistic based on how long its takes (70 days+ give or take)
This is a different approach and would be similar to mid - long term swing trading stocks or crypto but it very possible for forex as well based on your strategy and style
By finding the true pivot points in price action you can easily break the trade down to capture 100 - 200 pips or less but will require you to look at the charts in one way only and not both ☯
as it can be confusing.
If you enjoyed reading this and learned something new to help advance your trading journey please boost this post, share it, and comment your thoughts on this universal strategy so that I can continue to make more, Thanks!🙂
NathanAL
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
NathanAL
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.