#DTFX
----Anatomy of Today's Price action----
-- A Thread--
(Probably all that someone will ever need to learn
how to read a significant portion of Price Action).
Bookmark
Repost to a friend
Enjoy!
----Anatomy of Today's Price action----
-- A Thread--
(Probably all that someone will ever need to learn
how to read a significant portion of Price Action).
Bookmark
Repost to a friend
Enjoy!
1. Range accumulation: The 'seek and destroy environment' is just a usual behavior of the market. Price breaks a level, mitigates an area, flips, and targets the opposite level... it's like Dave's Pro Tip but Pro Max. :)
2. Pullback to an Imbalance: After that, price broke the high of the range, confirming a bullish trend. Don't sell high; buy low. Instead, buy low (the pullback) and sell high. Dave's principles of Sweep, Tap, Flip are always applicable—just follow the trend.
3. Dave Pro Tip: "When price breaks a high (1) and returns to the low that broke the high (2), the first target in your long should be the high that delivered the low to you (3)." "Sauce: If it stops at the target then rejects, the low will taken." #DTFX
4. Bullish Zone: Market breaks structure to the upside, creating a swing. The bullish zone is the previous down move's range. Market tends to revisit this zone. The first tap is a scalp; the second, a double-bottom continuation. Multiple taps are possible.
5. Bearish Flip, and Trend line Fake Breakout: Price closed below last bullish bar, indicating new order flow cycle. Trend line resistance broke range, back to it and leave it.
"All the market does is try to break a level, then fake it." (or like so) — Al Brooks
"All the market does is try to break a level, then fake it." (or like so) — Al Brooks
6. Bearish Zone: A setup for life...No comment!
7. TOR-BOR:
Sell at the top of the range.
Buy at the bottom of the range.
Respect the sequence: Sweep liquidity, Tap to mitigate an area, Flip.
Price will often attempt an action twice; if it fails, it will do the opposite.
Sell at the top of the range.
Buy at the bottom of the range.
Respect the sequence: Sweep liquidity, Tap to mitigate an area, Flip.
Price will often attempt an action twice; if it fails, it will do the opposite.
PS:
These concepts are learned from the teachings by @DaveTeachesFX.
These are my understandings of the concepts; some errors may occur.
This is a read of today's price action. Trading and risk management are up to you.
Go backtest! Lol
Enjoy!
These concepts are learned from the teachings by @DaveTeachesFX.
These are my understandings of the concepts; some errors may occur.
This is a read of today's price action. Trading and risk management are up to you.
Go backtest! Lol
Enjoy!
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