Price Action Trading Method

Swing Highs and Lows The first thing that we need to recognise is what is a Swing High and Swing Low. This is probably the easiest part of price action and bar counting although the whole process gets easier with practice. Market Phases There are only three ways the market can go; UpDownSideways With the swing high/low definition now in mind we can start to build some layers on to the chart to identify these market phases and start to do a...

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The 9 Characteristics of Great Traders

What separates the 10% that make money from the 90% that don't? 1. 10,000 hours In his recent book Outliers: The Story of Success, Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that 'try their hand' at trading view it as a get rich quick scheme. That in a very short space of time, they will...

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Andrew's Pitchfork

Andrew's Pitchfork, otherwise known as median line studies utilizes the concepts of support, resistance, and retracements (see: Support & Resistance). As is visually depicted below, Andrew's Pitchfork consists of: Handle Resistance Trendline "tine" Median Line Support Trendline "tine" Steps to creating a Pitchfork Find a significant pivot or retracement (in the chart above, the lower left corner) Find...

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