If Open Bar is near Previous Bar low then sell Entry Strategy
Reader’s message
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Sir,
You say, ( Previous bar: inside if open bar is near previous bar low then sell entry target is previous bar near low stop-loss previous bar far high vice versa,……daily time frame best. )
Sir would you mind please provide me a video of this strategy, I will be waiting for your response.
Thanks,
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Here is video
If Open Bar is near Previous Bar low then sell Entry Strategy
All about price action trading
Price action trading is a common term in the market.
Traders use this method to be accurate in deciding the future of the investments.
The concept of price action trading embodies the analysis of basic price movement as a methodology for financial speculation.
As it ignores the fundamental factors of a security and looks primarily at the security’s price history, it is a form of technical analysis.
But the difference of it from most forms of technical analysis is that its main focus is the relation of a security’s current price to
its past prices as opposed to values derived from that price history.
This past history includes swing highs and swing lows, trend lines, and support and resistance levels.
Price action is simply how prices change – the action of price.
Other than using indicators, price action traders use the price movement as the indicator.
The market tends to repeat its action various time, this is the main theory of the price action trading.
The trader observes the relative size, shape, position, growth (when watching the current real-time price)
and volume (optionally) of the bars on an OHLC bar or candlestick chart.
The use of price action analysis for financial speculation doesn’t exclude the simultaneous use of other techniques of analysis.
On the other hand, a minimalist price action trader can rely completely on the behavioral interpretation of price action to build a trading strategy.
Price action traders combine bars, patterns, formations, behaviors and setups together with other bars, patterns, formations etc.
to create further setups.
In most cases nude candles or bars are used by price action traders.
There is no such thing as a “Holy Grail” in the market.
But the accuracy rate of price action trading is far better than others and close to 100%.
This has made price action trading a useful tool for the traders.
