In Depth Guide to Price Action Trading: Powerful Swing Trading Strategy for Consistent Profits

by PA Traders, Laurentiu Damir

Learn the power of trading by reading price movementsThe only strategy you will ever needThis book will provide :An extremely efficient and complete swing trading strategy, with very good risk-reward ratio, for use on any liquid market like Stocks, Forex, Futures, Commodities, Indices.An in depth analysis of price action movements.Sound knowledge with respect to the most efficient price action techniques of analyzing the markets.After reading this guide you will be able to :Trade on your own and achieve consistently good results month after month, provided you learn and follow what is presented throughout the book.Interpret and analyze price action movements in a way that will provide you with high probability trading setups.Establish key areas in the market where the price is most likely to change direction.See the main trend and the change of trend by combining the most efficient price action techniques of market analysis.Establish the confluence area in the market, the area where all the best trades have are most likely to happen.Find trading setups, execute them, place protective stops, set targets and manage every trade to finnish.Adapt to every situation the market will through your way.Topics discussed include :Support and resistanceThe importance of timeframesPrice action trendsPrice action swingsCongesion areasDirectional barsConfluence areasFibonacci retracement levelesPrice action patternsRisk-reward ratioTrade management,entry,stop,targetThe importance of discipline

104 pages, Kindle Edition

Published October 18, 2016

Reviews

[Elavarasan · Rating 2 out of 5]

First, should have mentioned a way to know which stock to analysis 😮‍💨. Even if this applies to any stocks, we can't analyse all stocks. Most of the stocks are already in the middle of impulsive or retracement moves 🥴


Timeframes:

Support & resistance - daily or weekly
Trend - 4H or daily
Rejection of confluence area - 15m or 1H



Strategy:

1. Identify support and resistance on daily timeframe
2. Identify price action trend on 4h timeframe
3. Develop confluence area (means?)
4. Observe rejection of confluence area on the 15m timeframe

Rejection signs:

when price retracement of uptrend enters the confluence area,

Price spikes like V
Candle wicks on the downside
Big white (green) directional candle
Price stops making LH’s and LL
Price moves sideways (many swings inside other swings)
Impulsive move in the direction of the main trend (uptrend)




Entry - Always at the extension of swing “1”

- Initial 1-2 move has to be surpassed in either direction before you can expect for price to touch swing 1 territory and enter the trade

- break of the initial move happens to the downside in an uptrend (more common)



Stop loss - below the move that surpassed the initial 1-2 move

- below where the downward move stops, if break of the initial move happens to the upside (less common)



Trailing SL - below HL’s of the small uptrend

Target - last HH of an uptrend (beginning of the retracement move on the 4H chart)

Risk reward ratio - usually 1:2 (more often than not even 1:3)

If the potential profit is not at least 1.5-2 times greater than the risk you will be taking, then discard the trade.

[Sarynette Guzman · Rating 5 out of 5]

Great Intro into Price Action

This book makes it so easy to read the charts. Author’s explanation are simple and clear. He does a great job of giving clear examples and guides you thru excerises that mimic real trades. I highly recommend for beginners and people looking to fine tune their trading skills using charts.

[Fitzgerald Kirton · Rating 5 out of 5]

I am confident in what I have learnt

To be given and insight to any market true the charts
A language of interpretation. I have read long books on the same subject none of them stuck to me until now

[Ben Cook · Rating 3 out of 5]

Useful for understanding concepts such as support and resistance, also strips away a lot of the potentially unhelpful confusion surrounding other indicators or oscillators that people like to use to one relatively straightforward mechanical approach.

[Ray Erikson · Rating 4 out of 5]

Good basic trading concepts

Damir presents a useful set of practical trading concepts for beginning and journeyman traders. I would give five stars, but while the content and composition are excellent, the diagrams are not all as clear as they might be.

[Y T · Rating 4 out of 5]

Not an easy book especially if you’re new to trading.

The authors explain in detail on the price action topic, e.g. confluence area, candlestick patterns, etc.

I’ve learnt to use the 4hr charts as a guide in reading the higher timeframe patterns.

Would recommend all traders to give this a read.

[Jayanta Brahma]

previously i have read books from this authors and i am quite satisfy his teachings . He makes me understand the all charts which previous was very difficult to understand .

[Ocean · Rating 5 out of 5]

One of the best TA books in trading.

[Imran Cedric]

Price action

[Austin Gunnerson · Rating 2 out of 5]

Decent book didn't learn as much as I would like but I needed the physical book not the kindle version. Learned about trading on uptrends, what defines and uptrend, waiting for confirmation etc.

[RAHUL SINGH · Rating 4 out of 5]

First principles based writing on a complex topic.

[Lai Soon Chong · Rating 4 out of 5]

Decent Reading

Good reading but I found myself a bit confuse after finishing the book. Exact trade setup picture would really help i guess.