Part 1 Introduction to Price Action Analysis, Price action is basically how prices move It works best in markets where liquidity and volatility. are highest like the FX market Price charts are graphical displays of the underlying reality of. actual price movements,There are three types of charts. 1 Line charts, Line charts represent price changes with a line and thus provides an opportunity to see. patterns and trends in a clear manner,2 Bar charts. In a bar chart each bar represents a fixed time frame of our choice. 3 Candlestick charts, Candlestick charts are essentially similar to bar charts as each candle represent price action. over one specific period,Support and Resistance, In price action trading support and resistance play an important part in the analysis. Support refers to a price level where buyers are interested and are buying into the market. thus pushing the price higher Resistance refers to a price level where sellers are interested. and are selling into the market thus pushing the price lower. Support and resistance are horizontal lines drawn by connecting the lows with previous lows. support line and the highs with previous highs resistance. When price crosses below the previous support level the support will now become resistance. When price crosses above the previous resistance level the resistance will now become. Trends and Trendlines, The trend of a market is the general direction of its price In trading price action traders often. tend to trade with the trend, In an uptrend there is formation of higher highs and higher lows Bullish trendlines are drawn. by connecting the lows with a straight line A bullish trendline is said to complete when the. trendline connects at least three lows, In a downtrend there is a formation of lower highs and lower lows Bearish trendlines are. drawn by connecting the highs A bearish trendline is said to complete when the trendline. connects at least three highs,In a ranging market the price trends sideways. It is possible to draw channels to contain the price action Channels are drawn similarly to. trendlines with an additional line drawn parallel to the trendline. Channels help traders to identify the upper and lower boundaries of which the price will be. Retracements, Retracements are corrections to the main trend Price will often undergo retracements within. the larger trend Retracements provide traders who missed the previous entry another. opportunity to ride onto the trend Some experienced traders trade on the retracement too. Reversals happen when the entire trend change direction There are several key reversal. patterns that traders look out for in price action analysis These patterns will be discussed. Consolidations, A consolidation is simply a ranging market Consolidations usually happen after a huge upward. or downward movement,Fibonacci Numbers, Leonardo of Pisa was the Italian mathematician that came up with a number sequence known. as Fibonacci numbers Fibonacci numbers are interesting as they allow us to derive Fibonacci. ratios which have been observed to occur everywhere in nature. Traders believe that markets also tend to follow Fibonacci ratios and use the numbers in. measuring the strength of retracements,Common Fibonacci Ratios. Fractal Nature of Price Action, Due to the fractal nature of trends all these can be applied to any time frame. Traders should monitor the market over multiple timeframes as it is important to know the. bigger picture at all times while trading,Part 2 Trading Price Action. Trading price action allows analysis without lagging indicators Price action analysis allows. traders to read market direction and be the first to enter and take profit Also it allows trading. in different market conditions in a clean and simple chart. Price action traders should take note of the follow key factors. Direction Level Timing,Trade with the direction of the market. Buy when the market is bullish,Sell when the market is bearish. Stay out when the market is trading in a tight range. Refers to the best price to join in the market based on the direction which was. previously determined i e Support and Resistance,Timing of Entry. Timing is a function of price action build up,Enter trades when the price build up is strong. Factors affecting Price Action,Volatility,A measure of price variation over time. Can directly impact how much profit traders make from each trade. Deduced from,o the range formed by the bars and, o the average size of each bar over a period of time. The larger the range of pips formed by the bars and the more the average pips per bar the. more volatile the market,Amount of market interest that is present. The higher the trading volume and number of traders involved the more liquid the. market will be, Generally liquidity is lower when banks are on holidays. On a daily basis liquidity is peak when the 2 largest markets London and New York. Why trade when the market is liquid, When a market is liquid prices tend to move gradually and steadily. When there is low liquidity prices tend to move abruptly and irregularly. It is important to take note when markets are closed for holidays. It is advise against trading during periods of low liquidity. Number of pips price can possibly move before meeting a significant support or. resistance level,Identify clearance to decide target profit. More traders are likely to join the market in the same direction with more clearance. Spot traders will be quicker in profit taking and have lower holding time due to price. action analysis,Introduction to chart patterns,Continuation Patterns. Key Reversal Patterns,Consolidation Patterns,Part 3 Conclusion. Price action is the first tool in any trader s toolkit for a very simple reason everything else is. based upon it If everything else is the derivative then price action is the main driving force. 1 Know your price patterns and know them well, 2 Draw your trend lines correctly as well as conventionally. 3 Price patterns do fail Have a plan of attack for other potential scenarios. 4 Price action can lead to massive gains If you see price reacting off of a surpassed level. take the hint, 5 Fibonacci numbers are a guide Use them to make sense of common occurrences and. adopt techniques that make complete sense to you, 6 Trade the professional move When price leaps out of an obvious range go with the. flow Momentum is hard to kill, 7 Trading for fun is an easy way to plow forward Trading out of desperation leads to. more desperation,8 If you don t understand it don t trade it. Email us research nusinvest com if you have any questions. We will do our best to answer your queries, This research material has been prepared by NUS Invest NUS Invest specifically prohibits the redistribution of this material in. whole or in part without the written permission of NUS Invest The research officer s primarily responsible for the content of. this research material in whole or in part certifies that their views are accurately expressed and they will not receive direct or. indirect compensation in exchange for expressing specific recommendations or views in this research material Whilst we have. taken all reasonable care to ensure that the information contained in this publication is not untrue or misleading at the time of. publication we cannot guarantee its accuracy or completeness and you should not act on it without first independently verifying. its contents Any opinion or estimate contained in this report is subject to change without notice We have not given any. consideration to and we have not made any investigation of the investment objectives financial situation or particular needs of. the recipient or any class of persons and accordingly no warranty whatsoever is given and no liability whatsoever is accepted. for any loss arising whether directly or indirectly as a result of the recipient or any class of persons acting on such information or. opinion or estimate You may wish to seek advice from a financial adviser regarding the suitability of the securities mentioned. herein taking into consideration your investment objectives financial situation or particular needs before making a commitment. to invest in the securities This report is published solely for information purposes it does not constitute an advertisement and. is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments No representation. or warranty either expressed or implied is provided in relation to the accuracy completeness or reliability of the information. contained herein The research material should not be regarded by recipients as a substitute for the exercise of their own. judgement Any opinions expressed in this research material are subject to change without notice.
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