The Piercing Line is a dramatic candlestick pattern. This bullish formation packs two formidable price action concepts: climax and reversal. Here, you’ll learn this superb candlestick pattern through three detailed charts. But first, let’s run through a short primer on the Piercing Line candlestick pattern. How To Identify The Piercing Line Candlestick Pattern The Piercing […]
A 46-Point Price Action Trading Plan Checklist
Designing your first price action trading plan is daunting. There are so many approaches to consider and decisions to make. On top of that, there’s that nagging thought that you’ve missed out something critical in your plan. This is why you’ll find this trading checklist helpful. Try your best to answer the questions in this […]
3-Step Pullback Trading Method
This 3-step method for trading pullbacks comes from Richard Deutsch’s excellent Udemy course. It uses the Keltner Channel to identify trend momentum and tradeable pullbacks. From there, it relies on price action to select the best pullbacks for entering the market. Note: I’ve interpreted the source material with my observations to form the trading rules […]
6 Top ADX Indicator Trading Strategies
J. Welles Wilder was a prolific designer of trading indicators that have survived the test of time. With his broad experience with the markets, Wilder knew that the key to trading is getting the context right. But how do you evaluate the context? Wilder’s answer is the ADX indicator. Wilder designed the Average Directional Index (ADX) […]
7 Effective Tips For Building Trading Discipline
Trading discipline is pivotal to your performance and survival as a retail trader. As an independent trader, you don’t have managers looking over your shoulders. A single lapse of discipline can severely damage your trading account, not to mention your confidence as a trader. However, typical tips to improve trading discipline might not be helpful. […]
4 Price Action Trading Strategies For Pullback Traders
Pullback trading is a fantastic starting point for new traders. It emphasizes the importance of respecting the trend and defining your trade risk. The cornerstone of finding pullback setups involves gauging when a pullback ends. In this list, we’ll explore four trading strategies that use price action analysis to do this. Pullback Trading Strategies Two-Legged […]
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