Advanced Price Action Trading

July 24, 2019

I have been using price action to trade the Forex markets since 2013, it has been financially rewarding and a lot of fun. I love trading and I love price action. 

 

If you are new to price action trading, there are a couple of free courses below that will teach you the basics...

 

Price Action Basics - this is a free price action course that is available on my Forex YouTube channel and also on my website. 

Price Action 101 - this is another free course that I have created, this is available at Technical Forex.

 

The internet is full of free price action content but the majority of this content only teaches the basics and is aimed at beginners. If you are interested in more advanced price action trading content, I created this post and the linked videos below just for you...

 

Advanced Price Action Trading

 

What is advanced price action

 

Price action is part of technical analysis. It is a way to analyse financial markets and predict where future price may be.

 

Advanced price action is a more sophisticated and reliable form of analysis. It focuses on specifics and refines the basics. If you want to make money trading Forex using price action, you need to know advanced price action - the basics is not enough.  

 

Why is advanced price action needed?

 

Price action is reliable form of analysis for many Forex traders but the basics do not work. Ever tried trading engulfing candles? Perhaps pin bars at horizontal levels? The trades were likely losers. The reason for this is that basic price does not work when trading Forex or any other financial market. You need to know what price action setups work and those that do not. You also need to know what support and resistance you should trade and which you should not. Knowing these things can only come from a professional, someone that trades advanced price action on a regular basis. 

 

 

Lesson 1 - Channels

 

Basic price action says, 'look for a setup around a channel support/resistance area'

 

Advanced price action says...

 

- Channels are best traded early on. Once a channel becomes obvious, it is likely to break-out. Use the 3 test rule covered in the video below.

- Channels with multiple trading signals - such as dynamic support or resistance - will be much more reliable.

- Channels can provide trading opportunities even when price closes out of the channel (break-out), due to the principle of support turned resistance and resistance turned support.

- Channels struggling to reach either channel support or channel resistance can be an early signal of a break-out

- Indicators, such as moving averages and the RSI, can provide an early signal of break-out 

- Channels can be more reliable when combined with daily and weekly levels

 

All points covered in the videos below... 

 

The charting software used in these videos is by far the best charting software I have ever used. The best thing... It's totally free! Click here to get started. 

 

 

 

Lesson 2 - Stop losses & take profits

 

Basic price action says, 'place your stop above/below a setup' and 'place your take profit at a set number of pips or risk reward ratio'.

 

Advanced price action says...

 

- Use price action to analyse areas of reversal

- A wider stop-loss can improve win rate

- Setting a take profit should be logical and require analysis

- Setting a stop-loss should be logical and require analysis

 

All covered in the video below...

 

 

Lesson 3 - Indicators 

 

Basic price action says, 'you don't need indicators, your charts should be naked'.

 

Advanced price action says...

 

- Indicators are a great tool to confirm price action analysis

- Indicators combined with price action can provide a higher rate of trading success

- Price action analysis with indicator confirmation provides more reliable analysis 

 

All covered in the video below...

 

 

Lesson 4 - Identifying Trends 

 

Basic price action says, 'the trend is your friend'. 

 

Advanced price action says...

 

- Trading trends is the easiest and most profitable way to trade Forex

- Trends should be confirming through price action and indicators before trading

- Entry on a retrace move is the most logical way of following a trend

 

All covered in the video below...

 

 

Advanced Price Action Trading Strategies

 

Learn more about advanced price action by taking my advanced price action trading course. The course teaches more aspects of advanced price action, including full details about my very own price action trading strategies...

 

 

The Fundamentals of Profitable Trading

Professional Price Action Trading Strategies

All the Knowledge you need to get Started

Deep Price Action Tips and "Secrets"

 

All strategies verified with myfxbook!

I wish you all the best in your trading

 

Samuel Morton

 

P.S you can also follow my advanced price action trading strategies in my Forex trading room

 

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DISCLAIMER

 

*There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Samuel Morton, love-the-pips.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for Forex trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information.You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of Samuel Morton and love-the-pips.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading Forex, Options on Forex, and any retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Samuel Morton and love-the-pips.com is not an investment advisory service, is not an investment adviser, and does not provide personalised financial advice or act as a financial adviser. love-the-pips.com exists for educational purposes only, and the materials and information continued herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments. You hereby understand and agree that Samuel Morton and love-the-pips.com does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein.

*All trading products and services are non-refundable.  It is hardly fair to process refunds just because you change your mind after receiving materials and the education. Just as Amazon.com and iTunes, we do not offer refunds for digital products, there are NO refunds on any digital products offered on this site. Past results are not a reflection of future gains. We strongly advise that you risk no more than 1% capital per signal provided. We cannot be held responsible for any technical or other difficulties that may result in signals not received or followed. Our Mentor Program is non-refundable upon the start of the first training session. Our time is priced at £250.00 per hour, the mentor program offers 2 paid hours with the remaining program free of charge. Read our main disclaimer a. Our Advanced Price Action Course is non-refundable once the purchaser has logged-in.

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